Short Term Uncertainty Won’t Kill Brazil’s Oil Boom

Since Brazil’s socialist leader, Luiz Inácio Lula da Silva – known as Lula, came into power in January this year, the country’s oil and gas industry has faced uncertainty. Many wondered if he would move away from fossil fuels in support of his election campaign pledge to bring an end to deforestation.

But Brazil still relies heavily on its oil revenues, as one of the biggest oil and gas powers in Latin America. And, Brazil has the potential to further develop its fossil fuels if Lula approves new exploration and production…