Friday, November 09, 2007

Good news-bad news for Brazil

By Libby

The good news.

RIO DE JANEIRO, Brazil (AP) -- A huge offshore oil discovery could raise Brazil's petroleum reserves by a whopping 40 percent and boost this country into the ranks of the world's major exporters, officials said.

The government-run oil company Petroleo Brasileiro SA, or Petrobras, said the new "ultra-deep" Tupi field could hold as much as 8 billion barrels of recoverable light crude, sending Petrobras shares soaring and prompting predictions that Brazil could join the world's "top 10" oil producers.

The bad news is if this pans out, the neo-cons are likely to decide the Brazilain people need to be 'lberated' and the oil company de-nationalized and turned over to the 'free market' capitialists.

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Blogger Capt. Fogg said...

La fora estão os senhores da guerra
E cantam já hinos de vitória.
Qual é a historia desta terra?
É o medo, ali mesmo.

-Pedro Ayres Magalhães-

Out there the warlords
already singing hymns of victory.
What's the history of this world?
Fear, that's it.

11:19:00 AM  
Blogger Libby Spencer said...

I'm glad you translated. My Portugese is rusty. It's beautiful and chilling at the same time.

And so appropros, as always.

2:01:00 PM  

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