• 4 minutes Ten Years of Plunging Solar Prices
  • 7 minutes Hydrogen Capable Natural Gas Turbines
  • 10 minutes World looks on in horror as Trump flails over pandemic despite claims US leads way
  • 13 minutes Large gas belt discovered in China
  • 5 hours Rioting and Protesting
  • 1 min The Downside of Political Correctness
  • 15 mins Trump waves a Bible
  • 2 hours George Floyd’s History
  • 10 hours US and Australia Sign SPR Lease Agreement
  • 3 mins China To Boost Oil & Gas Exploration, As EU Prepares To Commit Suicide
  • 12 mins Main Stream Media falls into depressed mood today after hearing the record May jobs report UP 2.5 MILLION JOBS !
  • 4 hours Let's try to link the recent events back to the situation with oil production and pricing
  • 23 hours Healing, Not Hatred
  • 4 hours In the Event of WW3, Oil and/or Renewables?
  • 17 mins Coronavirus hype biggest political hoax in history
  • 10 hours China’s Oil Thirst Draws an Armada of Tankers
  • 20 hours Trumps Oil Industry....
  • 23 hours Let’s Try This....
  • 1 day Chicago Threatens To Condemn - Possibly Demolish - Churches Defying Lockdown
John Daly

John Daly

Dr. John C.K. Daly is the chief analyst for Oilprice.com, Dr. Daly received his Ph.D. in 1986 from the School of Slavonic and East European…

More Info

Brazilian Offshore Fields - Caveat Emptor

A decade ago Jim O'Neill, then Goldman Sachs head of global economic research and commodities and strategy research, coined an acronym that has increasingly come to dominate the last decade in a study reported entitled, "Building Better Global Economic BRICs." Despite the coy cuteness of the title, the paper's content was both serious and prescient, predicting the rise of the four BRIC economies - Brazil, Russia, India and China - over the next few years.

O'Neill's forecast has come to pass, but what is interesting about the rise of the BRIC economies is that only Russia is a major energy exporter, vying with Saudi Arabia for the world's number one position. Both India and China have to purchase expensive energy imports to fuel their economies, which leaves Brazil as the median state - since the beginning of the year, it has been a modest net energy exporter, greatly pleasing Brazil's government and treasury.

While Brazil is seemingly poised for not only soaring economic growth, its energy sector is about to boom as well, and herein lies a cautionary tale, nor for individual investors, but for those seemingly invulnerable economic colossi, the multinational oil companies.

As oil is the world's most fungible commodity oil companies have unprecedented economic clout and political support that it buys in most countries and they usually use that massive influence to improve their bottom lines regardless of the lopsided deals that they forge with resource-rich…




Oilprice - The No. 1 Source for Oil & Energy News