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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Snowshoe who wrote (129178)	3/11/2010 9:17:36 AM
From: elmatador	Read Replies (1) of 206118

collecting a much bigger chunk of the profits from the oil produced in their countries. Two of the world's oil-rich countries may make it harder for oil companies to do business with them. Both Brazil and Nigeria currently offer fairly good contract terms to international oil giants like Exxon Mobil (XOM, Fortune 500) and Royal Dutch Shell (RDSA) that operate within their borders. But now they're hoping to collect a much bigger chunk of the profits from the oil produced in their countries. The legislation would also require that international energy outfits get the majority of the materials used to extract oil from Brazilian suppliers, and would give the government final say over which projects get developed. money.cnn.com As shareholder of Brazil Inc. I have to applaud the measure.

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