The President of Brazil, Luiz Inácio “Lula” da Silva, inaugurated the country’s new deepwater oil field on Tuesday. Trial extraction of oil by Petrobras began in the Jubarte oil field 77 kilometers off the coast of the state of Espirito Santo. The discovery of massive oil reserves has triggered a debate in Brazil on how to use the country’s newly discovered oil wealth to fight poverty and transform the South American giant into a developed country.
Brazil . . . will oil lead to progress? . . .
President Lula, who grew up in extreme poverty (he was a shoeshine boy and a street vendor when he was a child), called the reserves a gift from God that should be used primarily to benefit the country by using it to lift people out of poverty and investing in education and health. Brazil may change its laws dealing with oil exploration and may create a new corporation to manage the oil reserves or increase its stake in Petrobras, the state-owned oil production company. Read more about the debate in this link.
Brazil also looks set to enhance its military capabilities to safeguard the country’s newly discovered wealth. The Brazilians are looking to develop the capability to build nuclear submarines with help from France or as a joint project with neighbour Argentina. A good move, as the notorious international killer corporate oil mafia may try filthy tricks to lay their dirty hands on the oil wealth that belongs to the people of the Latin American country.
Accelerated efforts to build Brazil’s first nuclear submarine are under way . . .
An alien Earthling wishes Brazilians good luck in their endeavours to utilise the newly discovered oil reserves to eradicate poverty in Brazil and to transform the country into a developed one!