Massive crude oil deposit found in Argentina - 120 million barrels/year

[The Straight Story]

Massive crude oil deposit found in Argentina

Posted 3 hours 36 minutes ago

A joint Argentina-British Pan American Energy company has discovered a crude oil field in the southern province of Chubut, yielding an estimated 120 million barrels per year, local authorities said.

"It's the biggest oil deposit in decades," Chubut Governor Mario das Neves told reporters in provincial capital Rawson, 1,450 kilometres south of Buenos Aires.

He said the oil field was located in Chubu's central Escalante region, which years ago was uneventfully explored by US oil giant Amoco.

Pan America Energy, formed by Argentina's Bridas and Britain's British Petroleum, is Argentina's second-biggest crude oil producer.

http://www.abc.net.au/news/stories/2008/01/27/2147443.htm?section=world

[RB TexLa]

1. Bet Amoco feels like shit

[DavidDvorkin]

11. Amoco is now owned by BP

Perhaps that's how BP came to be involved in this.

[RB TexLa]

13. OK, the BP part makes sense

can't believe I forgot that.

[Tarheel_Dem]

2. OMG..better keep this quiet or "W" will invade (eom)

[SoCalDem]

3. Well. here goes the neighborhood.. n/t

[mitchtv]

4. Good news for La Argentina

They could use a little good news.

[graywarrior]

5. I can buy a Hummer!

Or get a hummer. Whatever.

[high density]

6. I guess we know the next land for freedom

Yee haw!

[Hugabear]

7. The US should keep its greedy fucking hands off

Why is it that the US acts like it has a right to oil anywhere in the world, wherever it might be? Expect * to start cozying up to Argentina, trying to get his hands on that oil.

[NMDemDist2]

8. considering the US consumes 20 million barrels a DAY

:shrug:

it's not gonna go far for us....

[karlrschneider]

9. A "per year" figure is meaningless. Who writes this shit?

:eyes:

[havocmom]

10. Is there technology to slant drill to get at it

from Paraguay?

[peacetalksforall]

12. South America will be on its way to being independent of the tyranny of

the U.S. and European corporations and entities as well as the U.S. & World banking systems that put their big thumbs on that continent and squeezed it dry for decades with the help of some really malevolent leaders who were good at making deals and keeping down their own people.

(Unless Rev Moon and the Bushes with orders to our military kids take over.)

There is a memory that haunts me that took place soon after Bush became king. The Argentina money situation collapsed. I think I remember that it was worse than all their collapses of the previous 30 years. It involved a battle led by the U.S. involving a contract - Arentina - Taliban - Unocal - the reason some Taliban went to Crawford. I found this for now:

"The commitment to invade Afghanistan was made long before 9/11.

The Bush Administration wanted to secure for American energy companies-notably the Enron and Unocal Corporations-the strategic pipeline route across Afghanistan to the Caspian Basin. But the Taliban had signed a contract in 1996 with the Bridas Corporation of Argentina, preempting the route.

Scarcely settled in Washington in early 2001, the Bush Administration immediately pressed the Taliban to rescind the Bridas contract, and undertook planning for military intervention should negotiations fail. Administration officials and the Taliban met for talks three times throughout the spring and summer, in Washington D.C., Berlin, and Islamabad-but to no avail.

At the last session, in August, 2001 the Administration threatened a "carpet of bombs" if the Taliban did not comply. The Taliban would not. Soon thereafter-still weeks before September 11-President Bush notified Pakistan and India he would attack Afghanistan "before the end of October."

Then 9/11. Then two more refusals of Osama bin Laden's head. Then, on October 7, the Bush Administration looses the carpet of bombs.

Since then Afghanistan has been supplied with a puppet government, the Bridas contract is history, and the country is dotted today with permanent U.S. military bases in close proximity to the pipeline route. It was a war of conquest and occupation."

Mods - these are short paragraph sentences - comes to about four normal ones?

http://www.informationclearinghouse.info/article19095.htm

I wish all the countries on that continent peace, prosperity, and opportunity for those controlled by manipulative policies and intrusions keeping so many in unnecessary poverty and making do for decades - mostly to pay predatory loans to the World Bank and the IMF while their former Presidents moved to Marbella on Spain's Costa del Sol - or maybe just Coral Gables to become businessman.

[warren pease]

14. Ooops... Guess who just joined the axis of evil.

[neverforget]

15. Consumption is at 85 million barrels/day so this new find will last how

long? What a crappy headline!

[enid602]

16. Argentina

Well, considering that Argentina has been energy self sufficient for 30 years or so, this could have a dramatic impact on their economy.

[applegrove]

17. Oh boy. Argentinians better watch out. Oil economies are not the nicest

places to live.