Mr. Obama ought to tell the whole story about Brazil, instead of just half of it. He touts the measures Brazil took to improve its energy independence, such as flex-fuel vehicles and biofuels. And yes, Brazil has gone from importing 77% of its oil from foreign sources in 1980 to importing no oil by 2009. A great success story in conservation and alternative energy? Not really. Total Brazilian oil consumption still more than doubled.
The biggest factor is that Brazil increased its domestic oil production over the last two decades by 876% (not a typo). Most of that production has come from offshore exploration.
Brazilians achieved independence from foreign oil the old-fashioned way—they drilled.
Saturday, April 02, 2011
Stephen Hayward: The Secret to Brazil's Energy Success