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Brazil Vows to Join OPEC After Striking Huge Oil Reserve

Morales and Lula exchange coats for a picture Brazilian President, Luiz Inácio Lula da Silva, talking this Saturday, November 11, during the Ibero-American summit in Santiago, Chile, said that thanks to the discovery of as much as 8 billion barrels of oil off the coast of Brazil, his country might soon join OPEC, the Organization of the Petroleum Exporting Countries.

"This discovery of an exceptional reserve, with good quality oil and plenty of gas," he stated, "puts Brazil in a highly privileged situation. Very soon Brazil is going to join OPEC."

The  new oil fields discovered by Brazilian state-controlled Petrobras puts Brazil among the ten top oil producers at 9th place, just after Venezuela.

Venezuelan President, Hugo Chávez, had proposed on Friday that Brazil join Venezuela in a joint venture called Petroamazonia, which would sell subsidized oil to South America's poorest countries.

Lula responded saying that in his view OPEC should reduce oil prices: "The countries that have oil need to be compensated with a just price for their oil. However, the countries that sell oil, cannot think that they can live at the poor countries cost and choke their economies."

"Obviously we intend to participate in such a forum where we can discuss politics for the whole world. When Brazil is part of OPEC, we are going to fight a little to get a lower oil price, because this is one of the contributions that the oil-rich countries can give the poorer countries," the president stated.

For Lula, Brazil's biodiesel policy is already an alternative for Latin American countries as well as for some African and Asian nations. The Brazilian president reassured the world that Brazil won't change its biofuel policy due to the just-discovered new oil and gas reserves.

"We want to present our plan soon, defining the areas in which we are going to plant. And it is important to make it clear that in this government no one will have a chance to planting anything related to biodiesel in the Amazon except for dendê (oil palm), which is originary from the region. There will not be sugar cane in the Amazon,  there will not be soybean in the Amazon", he ascertained.

Lula stressed that Brazil won't join OPEC before it starts exporting oil, something that will not happen until he leaves office in January 1st, 2010. For now, all the oil Brazil produces is being consumed domestically.


  • Show Comments (14)

  • bo

    [quote]GOD IS BRAZILIAN! [/quote]

    When god made brazil Saint Peter asked him why he gave her so many wonderful natural resources….and god replied, “wait until you see the people I’m going to put there!”

    I’m reminded of that joke evertime I drive my car in this wonderful country chock full o’ jackasses.

  • shelly

    Brazil needs to take this opportunity and invest in alternative technology and research. The next president needs to invest in programs, rehabilitate our State and Federal universities, which are the birthplace of ingenuity. Use the royalty money for social programs, invest in the military, health and schools. Do it now, because in twenty years time some other country here or in Europe, Asia… will find alternative fuels that aren’t biofuel. That are bacterias and chemicals reactions and universities in the US are investing heavily on research. Brazilian universities cannot compete in terms of research with the US.
    For example on the Time Global Warming edition, had an example of excellence and it won’t take long until someone here discovers the golden egg. Angela Belcher is an M.I.T. polymath and material scientist and bioengineer and at 49, she has received the Arthur Foundation “genius” grant in 2004, where she developed a whole new kind of battery, not building it but growing it. She engineered a virus knows as the M13 bacteriophage, that latches onto and coats itself with bits of inorganic material, including gold and cobalt oxide. That turns each long, tubular virus into what amounts to a minuscule length of wire. Coax these nanowires to line up, and you have the components of a battery that is far more compact and powerful than anything availabe.As you all know, even electrical battery is an environmental nightmare. To dispose you need land fills, her battery grows itself (virus), uses water as a solvent, so practically there is no waste. Also, the small bulk is organic and the battery is partially biodegradable. Her idea if it takes flight will leave the corn issue behind and let’s see Brazil will once again be “land of ALMOST opportunity”.

    Other news are that my university has found are working with a particular phytoplankton and they are trying to develop a cable which is 10X better the fiber optics. We have so much money being invested, it is not even funny. This will change the communications industry forever.

    Brazil will stay behind big time, I don’t see the universities spending this amount of money. Furthermore, only a handful of people get in, thus you limit the “brain-power”. The elitist society will drown itself in its own selfishness.

  • shelly

    Brazil will be come a economic superpower.

    Yes it will, but only the 10% of the population will benefit. The poor will work hard as a mule and will continue to earn slave wages and kids will have to quit school to support this “growing economy”.

  • shelly


    So God must be a hateful being, because so many people suffer! Justice is for the rich not for the poor, divine and human justice only exist for the rich elitist people in Brazil!

    No, I don’t think God is Brazilian, prove it!

  • João da Silva

    [quote]Brazil will be come a economic superpower and Ireland, don’t make me laugh. Brazil will even surpass the US in Agriculture, Beef, Poultry, Orange Juice, Soya, Biofuels, Ethanol, Petro, passenger jets, and every imaginable resources on the planet.[/quote]

    While we are becoming an economic superpower, what role does Portugal intend to play? Bringing in Sex tourists and Padarias? Or you intend sucking our wealth and taking it to Portugal. Get real Portuguesa

    [quote]Don’t make me laugh.[/quote]

    No, I am not making you laugh.Just want to make you cry.

  • Portuguesa

    The Irish Americans are wanna be Anglosaxons
    The Irish Americans are wanna be Anglosaxons.
    1 potato 2 potatoes potato heads…..

    Ireland is a joke compared to Brazil. The Irish never conquered a piece of land except for a potato field and even then they couldn’t even grow enough potatoes to feed ther country, so the all left to go to Massachetts. Now that they are American and excepted after a 100 years of racial dicrimination from the blue blood Yanks, they now think there GOD’s gifts to this world.

    Brazil will be come a economic superpower and Ireland, don’t make me laugh. Brazil will even surpass the US in Agriculture, Beef, Poultry, Orange Juice, Soya, Biofuels, Ethanol, Petro, passenger jets, and every imaginable resources on the planet.

    The Jolly Green Giant is waking up, watch out! Mr. Irish-American man…God made the Irish no. 1, hahahahahahahahahahahah! Don’t make me laugh.

  • João da Silva


    O’ Pecker must be Irish! And Forrest, don’t think I didn’t catch on to your sense of humor 😉

  • forrest Brown

    you have to be invited into OPECker
    Shelly is right the top 20 %
    will be the ones that see any thing from this .

    one thing is not told the oil is very deep and the fields will take years to start working .
    unless petrobras spends the m,oney to bring some north sea deep water rigs in .
    and then what if the the big oil spill happens .
    looking at the current path and the beaches brasil would loose the 3 top beaches in RIO

    and to the south loose the island of the rich ilibhella but only on the poor side

  • João da Silva

    Cheap Talk.
    [b]Brings in votes.[/b]

    Yesterday I was reading about George Wallace. To quote him:

    [quote]Later, when a supporter asked why he started using racist messages, Wallace replied, “You know, I tried to talk about good roads and good schools and all these things that have been part of my career, and nobody listened. And then I began talking about niggers, and they stomped the floor.[/quote]

    so if you try to talk about the need for education, we don’t listen, but when one begins to talk about OPEC and petro-dollars pouring into Brazil, he gets elected.



  • shelly

    big deal
    Guys get a grip! How much do you think the situation for the poor will change? See Venezuela, rich in oil but the people are desperate. I can bet my money on this one, the favelados won’t see a benefit and the Brazilians will continue to have a huge divide between classes. You wish you could put your finger on the benefits 😀 😛 ( I am from Brazil by the way!)

  • new yorker

    hey londoner
    The las I knew Ch.c had fall in love with his cell mate in Rio’s prison and is thinking of changing his name to Das Dores 😉 😀 😉 😉 😉 😉 😉 😉

  • Londoner

    Where the f*** is Ch?
    Where the f*** is Ch now? I told you last year, son… Country of the future… wait and see…


  • aes

    Very noble, nice showing.

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