Brazil: US should exploit offshore oil

August 22, 2008 1:29:54 PM PDT
The president of Brazil's state-run oil company says the United States must exploit offshore resources while limiting environmental impact.

Petroleos Brasileiro SA President Sergio Gabrielli says that the current debate over offshore drilling in the U.S. is important, but adds, "You can't leave those resources untapped."

Gabrielli said Friday that Petrobras would significantly reduce the environmental risk at its offshore operations in the Gulf of Mexico in 2010 by deploying drilling ships that can detach from the wells in case of a hurricane.

Petrobras is a world leader in deep-water drilling and the company claims to produce oil with minimal environmental impact.