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Watching The World: Brazil's brave new world
10/05/2009
Brazil's oil and gas industry is looking at some highly significant changes following what officials call the world's largest oil discovery in 30 years—the famed presalt layer.Dilma Rousseff, chief of staff to Brazil's President Luiz Inacio Lula da Silva and chairman of the board of state-owned Petroleo Brasileiro SA (Petrobras), said her country will exploit the presalt layer for social betterment."With the creation of the New Social Fund, Brazil will create a public savings account that funnels presalt revenue into education, science, and technology as part of our fight against poverty," Rousseff said.Does that sound a little ominous? One thinks immediately of the proble...
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