This post is to follow up on what I mentioned in class about the oil field discovered a couple hundred miles off the coast of Rio de Janeiro Peter Zeihan, vice president of analysis at Strategic Forecasting in Austin, Texas says, "The finds they've got so far are just the tip of the iceberg,'' Zeihan said. "Brazil is going to change the balance of the global oil markets, and Petrobras will become a geopolitical supermajor.'' The article speaks about how monumental this discovery could be for Petrobras, the state run oil company of Brazil, and Brazil itself. It could completely shift the way oil seems to control the world, since the US would shift their purchasing more towards Brazil and away from Saudi Arabia and the Middle East. The article also talks about how if this were to happen, the US would have no need to continue policing the waters of the Gulf, and therefore the region would become exponentially more violent, which would have lasting effects on everyone. (This is evidenced by the fact that just today after a US vessel allegedly made shot at an Iranian vessel the price of oil jumped).
The whole article can be found at:
http://www.bloomberg.com/apps/news?pid=20601086&sid=aBUoYKhu7PWk&refer=latin_america
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