Another ding on the Arabs

The New York Times reports on the rising economy in Brazil, helped by things like this: "Petrobras, Brazil’s national oil company, shocked the oil world in November when it announced that its Tupi deepwater field offshore of Rio de Janeiro could hold five billion to eight billion barrels of oil. Analysts think there could be billions of barrels more in surrounding areas. While the oil will be expensive and complicated to extract, Petrobras has said it expects to be producing up to 100,000 barrels a day from Tupi by 2010, and hopes to produce up to a million barrels a day in about a decade."

Rico says Brazil will probably suck it all up themselves, what with their expanding economy, but hopefully it'll help keep the world price down...