An enormous offshore field in territorial waters, the biggest oil discovery in the Western Hemisphere in 30 years, has Brazilians saying, "Drill, baby, drill, " while environmentalists worry the forward-thinking nation will take a big leap backward to focus on crude. (AP Photo/Ricardo Moraes)
An oil platform operated by Queiroz Galvao Oleo e Gas SA for Petroleo Brasileiro SA (PETR4) in Brazil’s southeastern Campos Basin tilted 3 degrees and the well it was drilling was shut for safety reasons, the country’s oil regulator said.
The platform was “stabilized” and a “small” leak of drilling fluid was contained, the ANP, as the agency is known, said in an e-mailed statement late yesterday. The ANP said it will investigate the causes of the incident.
Brazil is set to make a killing off oil. Simply because it’s almost all export. Most of their cars and trucks run on ethanol made from the excess sugar they produce. This is one of the reasons sugar prices are so high and we have to use corn syrup in our soft drinks. So the environmentalist don’t have a say in the matter unless suddenly Brazilians start buying vehicles that run on gas.