In November 2007, Brazil’s state-run oil company, Petróleo Brasileiro (Petrobras), announced a remarkable discovery: in a tract of the South Atlantic some 180 miles off the coast of Rio de Janeiro, it had found a giant oil reservoir buried beneath a mile and a half of water and a thick layer of salt. Called “pre-salt” oil because of its unique geological positioning, the deposit was estimated to hold 8 to 12 billion barrels of oil, making this the biggest discovery in the Western Hemisphere in 40 years. Further test drilling by Petrobras and its partners revealed that the initial find — at a field called Tupi — was linked to other deepwater “pre-salt” reservoirs, bringing the total offshore potential to 50 billion barrels or more. (To put that in perspective, Saudi Arabia is believed to possess reserves of 264 billion barrels and the United States, 30 billion.)
With this discovery, Brazil could “jump from an intermediate producer to among the world’s largest producers,” said Dilma Rousseff, chief cabinet official under President Luiz Inácio Lula da Silva and thought to be his most likely successor. To ensure that the Brazilian state exercises ultimate control over the development of these reservoirs, President da Silva — “Lula,” as he is widely known — and Rousseff have introduced legislation in the Brazilian Congress giving Petrobras control over all new fields in the basin. In addition, Lula has proposed that profits from the pre-salt fields be channeled into a new social fund to alleviate poverty and underdevelopment in the country. All this has given the government a huge stake in the accelerated development of the pre-salt fields.
Extracting oil a mile and half under the water and from beneath two-and-a-half miles of shifting sand and salt will, however, require the utilization of technology even more advanced than that employed on the Deepwater Horizon. In addition, the pre-salt fields are interspersed with layers of high-pressure gas (as appears to have been the case in the Gulf), increasing the risk of a blow-out. Brazil does not experience hurricanes as does the Gulf of Mexico, but in 2004, its coastline was ravaged by a surprise subtropical cyclone that achieved hurricane strength. Some climatologists believe that hurricane-like storms of this sort, once largely unknown in the South Atlantic, will become more common as global warming only increases.
Which brings us to scenario #3: It’s 2020, by which time the pre-salt area off Rio will be host to hundreds of deepwater drilling rigs. Imagine, then, a subtropical cyclone with hurricane-force winds and massive waves that suddenly strikes this area, toppling dozens of the rigs and damaging most of the others, wiping out in a matter of hours an investment of over $200 billion. Given a few days warning, most of the crews of these platforms have been evacuated. Freak winds, however, down several helicopters, killing some 50 oil workers and flight crew members. Adding to the horror, attempts to seal so many undersea wells at such depths fail, and oil in historically unprecedented quantities begins gushing into the South Atlantic. As the cyclone grows to full strength, giant waves carry the oil inexorably toward shore.
Since the storm-driven assault cannot be stopped, Rio de Janeiro’s famous snow-white beaches are soon blanketed in a layer of sticky black petroleum, and in a matter of weeks, parts of Brazil’s coastal waters have become a “dead ocean.” Clean-up efforts, when finally initiated, prove exceedingly difficult and costly, adding immeasurably to the financial burden of the Brazilian state, now saddled with a broken and bankrupt Petrobras. Meanwhile, the struggle to seal all the leaking pre-salt wells in the deep Atlantic proves a Herculean task as, month after month, oil continues to gush into the Atlantic.
Scenario 4: East China Sea — A clash over subsea gas
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