Brazilians have long been known to produce ethanol from sugar. But now, recent discoveries of offshore crude deposits may hold up to 8 BILLION barrels of oil. Among discoveries in the past 30 years, only the 15-billion-barrel Kashagan field in Kazakhstan is larger.
And these are only the initial findings. Brazil only seriously began drilling research in 2007.
http://www.bloomberg.com/apps/news?pid=20601109&sid=aBUoYKhu7PWk&refer=home
https://www.stratfor.com/campaign/geopolitical_diary_whats_important_not_whats_popular_5
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