Still, it's a glorious find. Light and sweet. Biggest since Kashagan 20-30 years ago. (The IHT wrote that Kashagan was discovered in 2000 in the paper today, but the truth is that the Russians had known about it since the 80's but never had had any reason, nor the ability, to drill it).

This Tupi field is really ultra-deep. 6000 metres of water and then 4800 metres of rock and salt. When it's completed it will be a triumph of science and engineering.

I don't mind the problematic location as I have financial interests in the ultra-deep offshore drilling sector.

Peak oil is not an energy crisis. It is a liquid fuel crisis.