Saudi Brasilia

Lula's happy. Brazil announced the 8-billion barrel Tupi field last year, and now the Carioca field which may have 33 billion barrels. If this is true, Brazil will move from 16th to 9th in the world for proven reserves. (I assume Carioca is just "possible"--it still needs to become "probable" and then "proven," which obviously may not happen.) With so many recent finds like this, from Chevron's discoveries in the Gulf to the weird (and clearly premature) announcement of a giant field in Indonesia to these Brazilian jumbo fields, one wonders what the peak oil guys have to say now.

Update: Petrobras distances itself from the 33 billion barrels claim here.