The world is swimming in oil... it's not rare, it's not running out.

via fark business:

http://www.bloomberg.com/apps/news?pid=20601086&sid=aBUoYKhu7PWk

<...>

April 24 (Bloomberg) -- Brazil's discoveries of what may be two of the
world's three biggest oil finds in the past 30 years could help end the
Western Hemisphere's reliance on Middle East crude, Strategic
Forecasting Inc. said.

Saudi Arabia's influence as the biggest oil exporter would wane if the
fields are as big as advertised, and China and India would become
dominant buyers of Persian Gulf oil, said Peter Zeihan, vice president
of analysis at Strategic Forecasting in Austin, Texas. Zeihan's firm,
which consults for companies and governments around the world

<...>

Brazil may be pumping ``several million'' barrels of crude daily by
2020, vaulting the nation into the ranks of the world's seven biggest
producers,

<...>

Brazil's state-controlled Petroleo Brasileiro SA in November said the
offshore Tupi field may hold 8 billion barrels of recoverable crude.
Among discoveries in the past 30 years, only the 15-billion-barrel
Kashagan field in Kazakhstan is larger.

Haroldo Lima, director of the country's oil agency, last week said
another subsea field, Carioca, may have 33 billion barrels of oil. That
would be the third biggest field in history, behind only the Ghawar
field in Saudi Arabia and Burgan in Kuwait.

<...>

More discoveries will follow in Brazil's offshore basins, most of which
have yet to be opened to exploration, Zeihan said. Repsol YPF SA, Exxon
Mobil Corp. and Devon Energy Corp. are among the producers scouring
Brazil's waters for reserves.

``The finds they've got so far are just the tip of the iceberg,'' Zeihan
said. ``Brazil is going to change the balance of the global oil markets,
and Petrobras will become a geopolitical supermajor.''

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end government intervention, break the oil cartels, re-establish the
free market and gasoline will be cheap.