Good news for Brazil

And the rest of us.
They’ve found a huge new oil reserve. I’d do business with Brazil over loony Hugo Chavez any day of the week.

I wonder how this will affect their biofuel production. Biofuels have been going out of favor as food prices rise and Ban Ki-Moon is going to Brazil next week to discuss it.

I say, if new oil finds off the coast take the pressure off the Amazon region, that it’s probably a plus situation. If new oil finds take the wind out of Hugo Chavez’s sails just a little bit, it’s definitely a plus situation!