Brazilian President Luiz Inacio Lula da Silva said that revenue from the country's enormous offshore oil fields will be invested in the scientific and technological development of Latin America's biggest country, according to AP. Silva made his remarks today during a meeting on how to regulate exploration of the vast oil reserves recently discovered off the coast of southeastern Brazil. The new rules are expected to be announced on Monday. The reserves lie more than a mile below the ocean's surface and under another 2.5 miles (4 kilometers) of earth and salt. Estimates of the entire area's recoverable oil range between 50 billion and 100 billion barrels.
