The Oil from Ipanema
By: Richard Miles
Brazil has vast oil reserves, but can the Bolsonaro government get the energy to market? Returning guest Lisa Viscidi of the Inter-American Dialogue says reforms are already in place that will enable oil production “to take off.” The real obstacles are the financial stability of Petrobras, the shaky state oil conglomerate, and the monopoly that the state has on most aspects of energy production, delivery, and even retail sales. Lisa also comments on market worries about Mexican president López Obrador’s commitment to existing energy contracts, and the huge effect of sanctions on Venezuelan oil production.