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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: Maurice Winn who wrote (24998)	11/9/2007 11:19:09 PM
From: elmatador	Respond to of 219928

Brazil will soon have lots of friends; Chinese oil ministry officials will already be booking flights to Rio. But Brazil is no African republic, eager for a quick deal. Customers for Tupi’s barrels might be expected to offer something more than a wad of cash. The country that is already flexing its muscles vigorously in world trade fora will raise its voice a little bit louder. Even as Petrobras was crowing over its discovery yesterday, Brazil joined forces with Canada to sue the US over its trade-distorting farm subsidies. Elmat: I think we should send a message about that Ethanol tariff too. This time the US will have no choice but to listen. America needs more oil and Brazil is a friendly neighbour, sort of. Brazil is the principal opponent of America and Europe at the World Trade Organisation, leading the attack by the emerging market nations against rich nation farm subsidies and quotas. Brazil has won cases against the EU over sugar quotas and against the US over cotton subsidies. It’s latest campaign is to bring down America’s tax on imported ethanol, used as a biofuel additive in petrol. The Tupi discovery will add a powerful lever to Brazil’s argument that America must open its doors to a clutch of ambitious Brazilian industrialists who want to turn Brazil’s sugar cane plantations into an ethanol factory for export to the US. business.timesonline.co.uk