Academic

THE SECRET TO BRAZIL?S ENERGY SUCCESS: ?Brazil has gone from importing 77% of its oil from foreign ?

By Glenn Reynolds

THE SECRET TO BRAZIL’S ENERGY SUCCESS: “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.”

I don’t recall Obama mentioning that part.

Full post as published by Instapundit.com on April 01, 2011 (boomark / email).