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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (101254)	9/12/2011 12:41:28 PM
From: Wharf Rat	Respond to of 149317

"Brazil has gone from a net importer of oil to a net exporter of oil:" Oh. I missed that one. Must have happened in the last 3 weeks. Brazil boom takes world fuel markets by surprise (Reuters) - When Brazil discovered huge offshore crude reserves four years ago, state oil company Petrobras sketched out plans to become a regional fuel exporter. That plan has since been turned upside down. Rapid domestic economic growth and rising fossil fuels use has turned it into a recurrent fuels importer, with occasional gasoline purchases in 2010 evolving into regular imports that may not cease until the end of the decade. This leaves Brazil following the path of other emerging markets such as China, which upended the oil products markets ten years ago with explosive demand, and the Middle East, where rising incomes have spurred demand growth. uk.reuters.com Based on the BP data base, Brazil consumed 121% of their total petroleum liquids production in 2005, and in 2010 they consumed 122%. In 2005, their net oil imports were 360,000 bpd and in 2010 their net oil imports were 470,000 bpd.