Drill, Baby, Drill—in Brazil
From time to time we hear that Brazil has been a great success in becoming more energy self-sufficient especially through an aggressive (meaning heavily subsidized) sugar-ethanol program. But note this story in today’s New York Times: Brazil is going to nearly double its investment in offshore oil and gas exploration, to $174 billion over the next five years. This at a time of low oil and gas prices.
So by all means, let’s use Brazil as an example of sound energy policy.