The Mortification of the Flesh

Portugal native, global restaurateur, and chef Antonio “Toni” Pais was a culinary leader and fixture in Pittsburgh for over 40 years.
Pais died on July 7 from complications of Parkinson’s disease. He was 69.

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74% of the new jobs were government-financed and the construction jobs added were likely also due to government infrastructure programs.

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A Commentary podcast states that Trump's platform is the least family-conservative platform in the last 50 years.

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The Mortification of the Flesh

We live in a complex world. Physics describes a world of multiple levels, realities of unseen levels. Like faith-based Leftism, there are truths so real and deep that they cannot be seen--or inferred. The border is secure. The President is in good health. Modern Monetary Theory. Fossil Fuels are successfully being reduced in our progress to zero usage.

From The Guardian

At least 16 of the 33 Latin American and Caribbean countries are involved in about 50 major new oil and gas onshore and offshore projects.

Two new powerhouses, Brazil and Guyana, are expected to register two of the three largest increases in fossil fuel exports by 2035.

According to the latest report from the International Energy Agency (IEA), production in Latin America and the Caribbean, which stood at 8m barrels a day (mb/d) in 2022, will grow by 5.8 mb/d by 2028. With increased production in countries such as Brazil and Guyana and new projects all over the region, non-Opec countries are strengthening their foothold in the oil and gas market, playing a crucial role in the shifting geopolitics of oil and gas worldwide.

Even if the world market for fossil fuels starts shrinking by the end of the decade, countries like Brazil, Guyana, Argentina, Ecuador, Mexico, and Suriname are betting on oil as a source of wealth, economic growth, and development – despite its impact on the planet and thanks to the international community’s inertia in “transitioning away” from the oil era.

According to the latest report from the International Energy Agency (IEA), production in Latin America and the Caribbean, which stood at 8m barrels a day (mb/d) in 2022, will continue to grow above demand, adding 2 mb/d destined for export by 2030. With increased production across the region, non-Opec countries are strengthening their foothold in the oil and gas market, playing a crucial role in the shifting geopolitics of oil and gas worldwide.

Brazil and Guyana, are expected to register two of the three largest increases in fossil fuel exports by 2035. The region currently accounts for 15% of the world’s oil and gas resources and could increase its share if other historical producers transition away from the oil market, reducing their production and exports.

Brazil, which used to be a modest oil producer until the discovery of its pre-salt deposits in 2006, has become one of the top ten largest oil producers. More than 100 wells have been drilled, with production increasing from 41,000 barrels a day in 2010 to 2.2m a day last year, according to Petrobras.

Petrobras has identified new fields in the “equatorial margin” region, which stretches from Rio Grande do Norte to Amapá. It is also considering the extraction of fossil fuels at the mouth of the Amazon River, which the Brazilian Institute of Environment and Renewable Natural Resources (Ibama) and environmental groups such as Greenpeace have spoken out against.

Petrobras plans to invest $6bn from its own budget in exploring new deposits over the next five years, adding another 10bn barrels to its reserves – almost doubling its current capacity.

“You have oil in one place. Guyana is exploring, Suriname is exploring and Trinidad and Tobago are exploring. Will you stop exploring yours?” asked Brazilian Lula at a recent event in Rio de Janeiro organised by the Future Investment Initiative Institute (FII Institute) from Saudi Arabia.

In neighboring Guyana, one of the poorest countries in Latin America, the economy has grown quickly since ExxonMobil discovered oil in 2015. GDP per capita is soaring, growing by 33% in 2023. It is expected to increase by 34% in 2024.
 
Ashni Singh, Guyana’s finance minister, says: “We’re using this period [of oil exploitation] to ensure Guyana’s long-term competitiveness, to secure long-term economic growth, and to invest in the things that matter most to improving the quality of people’s lives – and in particular, the most vulnerable.”

Meanwhile, Suriname has become a “rising star” in the oil market with some big offshore discoveries, including new deposits in Block 58 by TotalEnergies and APA, estimated at 700m barrels, with the potential to transform the economy of South America’s smallest nation.

In addition to oil giants Venezuela, Mexico, Argentina, Ecuador, Peru, Trinidad and Tobago, Barbados and even the environmentally exemplary Costa Rica have ambitions to expand their oil and gas industry. “We must carefully assess these resources,” said Costa Rica’s president, Rodrigo Chaves. “This is a multibillion-dollar industry. And, as a nation, we should discuss its potential.”