Exxon Mobil attempts to portray Brazilian discovery as important
According to an announcement by Exxon Mobil, recent exploration efforts off the coast of Brazil have found petroleum in subsurface deposits that may approach significant, if not slightly noteworthy, volumes of the polluting and archaic resource. According to Exxon spokespeople, exploratory drilling at a site called Azulao-1 has yielded evidence that perhaps up to 8 billion barrels of economically-recoverable oil may exist below the Brazilian sea bed there. If all goes well, possibly some fraction of that optimistic figure might actually be recovered and pumped into the shrinking, post-Peak Oil carbon market, at some point in the next decade or two.
Eight billion barrels of oil is roughly equivalent to three months of current world petroleum demand.