Leave it to the government. It’s proposing a “tax and cap” regime for energy producers which will require fossil-fuel generating plants to pay extra.  The idea is to encourage clean fuels and discourage dirty ones. That’s fine in theory. But instead of helping our future energy situation, it’s going to make it a lot worse.

Offshore areas of the world — especially in deep water — are the key to the world’s energy future. Far out and deep down. That’s where the last great hydrocarbon discoveries remain to be made.

Oil exploration experts have predicted that Brazilian oil find – the Tupi deposit and possible offshore fields nearby – may cost up to $240 billion to exploit.

But if the prospects turn out to hold $6 trillion of petroleum, they’ll kick the emerging market into the premier league, making it one of the world’s ten largest oil producers.

“There are those who will tell you that oil is a cyclical business and a global fungible commodity,” says Christian DeHaemer in Taipan Daily.