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Brazil, which is already an oil powerhouse, has one foot in OPEC+ and the other in the energy transition. Brazil in OPEC+: a masterstroke?
O invitation for Brazil to enter the OPEC+ is like a recognition that we are all in on oil. With production booming, especially in Equatorial margin, Brazil could even double its productive capacity. But, there is a catch: will joining this club be good for our economy?
Global challenges, oil still rules
Around the world, the Oil remains king. Despite all the talk of green energy, renewable energies are still expensive as hell. And, with the United States having low oil reserves, any conflict could cause the price of a barrel to soar. So, it looks like oil will reign for a long time.
A Petrobras It has already shown that it can't do the job alone, so Brazil needs to call people from abroad to invest here. But, won't joining OPEC+ and having to follow the club's rules hinder these plans? It's a question of whether think.
- There have never been as many accidents involving oil exploration in the Brazilian sea as there are now
- US blocks Chevron in Venezuela and Brazilian oil companies can profit from heavy oil
- Environmental Tragedy in Ecuador: Oil Spill Causes Unprecedented Damage
- ANP reveals alarming increase in oil exploration accidents in Brazil in 2024
Brazil's role at COP 28
Now, talking about the environment, Brazil went to COP 28 with a speech clean energy. We have a good part of our energy coming from renewable sources, and the Amazon is an issue that unites everyone. But at the same time, joining OPEC+ seems a bit contradictory. It's like wanting to swim and not get your clothes wet at the same time.
And to close, we have Treta between Venezuela and Guyana. Venezuela wants to take a part of Guyana that is full of oil. If one rolls invasion, Brazil cannot just watch. And this whole story shows how oil still changes the pieces on the international political board.
Brazil is at a crossroads: on the one hand, we want to increase oil production; on the other hand, we have to think about energy transition. And in the midst of all this, we still have to keep an eye on international movements. Oil is still king, but the future calls for change. So, what will Brazil's move be? Stay tuned, we continue to keep an eye on this geopolitical chess. Until next time, everyone!
