Brazil's oil euphoria hits reality hard

[W.G.Ewald]

When fields said to hold billions of barrels of oil were discovered off the coast here, exuberant government officials said the deep-sea prize would turn Brazil into a major energy player.

More than six years later, the outlook for Brazil's oil industry, much like the Brazilian economy itself, is more sobering. Oil production is stagnant, the state-controlled oil company, Petrobras, is hobbled by debt, and foreign oil companies are wary of investing here.

"It's funny, a few years ago, everybody loved Brazil," said Roger Tissot, a longtime consultant on Latin American energy. "And now it seems the love is gone."

Brazil's oil euphoria hits reality hard - The Washington Post

What did they do with the $2,000,000,000,000 Obama gave them?

 

[dhananjay1]

They would not be taken seriously if they name their company Petrobras. Just because the country's name is Brazil doesn't mean it's short should be Bras.

 

[IBSA]

Brazil's oil euphoria hits reality hard - The Washington Post

What did they do with the $2,000,000,000,000 Obama gave them?

Likely the money went for politicians' accounts and pockets.

 

[sydsnyper]

Sent back to america in corporate contracts

Brazil's oil euphoria hits reality hard - The Washington Post

What did they do with the $2,000,000,000,000 Obama gave them?

 

[W.G.Ewald]

Sent back to america in corporate contracts

And then donated to DNC

 

[TrueSpirit1]

And then donated to DNC

DNC or FSA ?

Btw, what is DNC ?

 

[W.G.Ewald]

DNC or FSA ?

Btw, what is DNC ?

Democratic National Committee. Actually big corporations contribute to both DNC and RNC to cover their bets :-(