Canadian Tar Sands: Let Them Keep This Dirty, Expensive Oil ResourceRecent estimates suggest that Canada's tar sands could hold more recoverable oil than Saudi Arabia. Unfortunately, current science requires that oil be extracted from tar sands in a pit-mining process that is extremely expensive (as well as harmful to the environment).
Petrobras' $240 Billion Tupi Oil Field: Good News for Brazil (and Owners of PBR)Last summer, when the price of crude passed $120 a barrel and crude futures markets lost all signs of rationality, Brazil's national oil company PetroBras added fuel to the fire when it announced the discovery of a brand new field off its coast containing an estimated 5 billion to 8 billion barrels of oil. Analysts at Cambridge Energy Research later estimated that the new field, named Tupi, would require 15 oil wells to be drilled at a staggering cost of $240 billion.
3. Biofuels: Still Just a Pipe DreamEthanol entered the year with celebrity status; it exited 2008 on life support. The following chart sums it up well: