Brazilian Oil: Government Seeks Greater Control Of Coastal Reserves

New York Times:

RIO DE JANEIRO -- Faced with the world's most important oil discovery in years, the Brazilian government is seeking to step back from more than a decade of close cooperation with foreign oil companies and more directly control the extraction itself.

Read the whole story: New York Times

Comments

[Academic]

Is this news? Shouldn't a sovereign, democratic and independent country be in total control of its natural resources on behalf of and in trusteeship of its own people?

It only becomes news when this isn't the case but rather the exception because these said resources are being selfishly exploited by foreign concerns to the detriment of the people to whom these resources rightfully belong.

What would you say if I used the same terminology in respect of your wife? And what would it imply about you and more importantly the influence and control I unseemly have over her?

Professor Dr. Stanley Collymore.

[acslaterson]

Brazil, one of my top 3 choices if I ever leave the U.S.

[EasyEs]

I hope the Brazilians can manage their oil better then the Mexicans or Venezuelans with their declining production.

[leevntheus]

Of course the CIA is probably in full press mode now to conjure up unrest, violence, and mayhem there to help prop up a dictator that answers only to Exxon, BP, and Goldman Sachs.

We all know this story all too well.

[leevntheus]

Good job Brasil!!!

I finish my energy engineering degree in two years with a minor in Portuguese languages.­..after 20 years of independent small business mastery...­do any of you think I'm keeping my family of six staying here in this cesspool of a country? HA!!

Brasil....­here we come!!!

Green energy...a­utonomous energy...a­nd voter control of oil....sma­rt people....­.

[BlackBuddha]

Now... if the US could drop tariffs on importing the Brazilian ethanol...­.

[Impeachthe0]

Not a single word in this article about the 2 billion dollars of tax payers money that the administration is loaning to Petrobras for oil exploration. George Soros has a vested interest in Petrobras and this is just a way to pay back George. I thought we hated oil.

[HGMercury]

I just should add that countries like Brasil now have the responsibility to develop in a way consistent with the best "green" practices for the betterment of the environment.

[OneTop]

Good for Brazil

[instagladiator]

Ditto x2

[HGMercury]

For many years now countries like Brasil were forced to practically give away their natural resources (with the cooperation and enrichment of local corrupt politicians) for pennies on the dollar. It is about time they and others get out from under the thumb of developed countries and generate benefits for their people. Lula, as a young man lived through that early reality and to his credit, kept his cool and worked within the system to where he is now.

It's a tough road ahead, mostly due to continued internal corruption, but if they do it right, Brasil will be a premier superpower, and nobody can stand in its way.

[drjasonmd]

Expect the MSM to start accusing Lula of being a communist dictator in league with Hugo Chavez.

[piul05]

Oh, have no doubt about that....

[HGMercury]

It's way past the time that anyone can afford and get away with doing that on the world stage. The dog's tail has grown too big...

[fbr79]

I wish we weren't such oil addicts, and by we I mean Humans. It is just ridiculous that so much of the world's economy is dependent on a specific natural resource.

[drjasonmd]

Water is next.

[instagladiator]

Yep, just a matter of time.