Friday, March 19, 2010

Brazil Passing Bill to Divide Oil Wealth

A bill has been passed through the lower house of Brazil's Congress to evenly divide oil riches throughout the country. Certain areas in Brazil are very oil rich, especially Rio de Janeiro, and have raked in hundreds of billions of dollars over the years. These oil-producing regions have been very outspoken in their opposition to this bill. It would mean great losses to their regions. In Rio de Janeiro, tens of thousands of people marched in protest to the bill earlier this week.
Many countries in South America face this same issue: select regions are resource-rich, while others have very few natural resources. So far, these resource-rich regions have benefited greatly off these extra profits, without much accountability. However, this bill shows that change may occur, and perhaps equality can occur for the whole nation, and spread to the rest of Latin America.

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