GE wants to help Brazil extract 100 billion barrels of offshore oil


With all the talk about the expanding oil & gas market in the United States, I found this clip on Bloomberg TV about GE's intentions to supply equipment that would help extract petroleum from a massive oil discovery 150 miles off Brazil's coast to be particularly interesting. Oil experts say there may be as much as 100 billion barrels of oil locked below layers of salt a mile below the ocean floor. It's said to be the biggest oil find in a generation and could reportedly supply all of Brazil's oil needs for a century.




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