Brazil reports massive oil discovery

Ultra-deep offshore find challenges ‘peak’ theorists pushing ethanol

…The discovery challenges “peak oil” theorists who contend the Earth’s supply of oil is running out.

WND previously reported the geological description of the Campos Basin suggests that the rock formations in which the oil is being found are in Upper Oligocene to Lower Miocene deposits; in other words, deposits from the Cenozoic Era dating back only some 24,000 years.


The geological description of the Campos Basin is consistent with the abiotic theory, that oil is formed inorganically, within the mantle of the earth, and seeps up into reservoirs formed in porous sedimentary rock deposits.

The “peak oil” theory was first proposed in 1956 by Shell Oil’s M. King Hubbard who drew a bell shaped curve and argued that oil production would gradually diminish to nothing after reaching “peak production” sometime in the 1970s.

Critics have charged that peak oil theorists continually revise their estimates of when oil production will be exhausted without abandoning their theory when new discoveries of oil reserves challenge their fundamental assumptions.

World News Daily