Brazil drills deep for petrodollars

- "Such has been the flow of good news about his country’s vast energy resources that President Lula da Silva of Brazil has already declared God to be “a Brazilian”. The discovery of what could be up to 100bn barrels of oil lying deep under the Atlantic promises to transform the nation’s economy and bring millions of people out of poverty. But when in July the president opened the taps on his country’s first commercial deep-sea oil production platform, the sheer scale of the challenge facing Brazil was starkly underlined by the offshore catastrophe further north in the Gulf of Mexico."

ABNAmro Energy Monthly August 2010

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