Good morning! Today, we talk about the mines and energy minister’s new push for oil ventures in the Equatorial Margin. The Cerrado has taken over as Brazil’s new deforestation hotspot. And markets’ inflation expectations are worsening.
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A new push for Amazon offshore oil drilling
![oil "Our brothers from Guyana are sucking on Brazil's riches through a straw," said Mines and Energy Minister Alexandre Silveira. Photo: Tauan Alencar/MME](https://brazilian.report/wp-content/uploads/2024/05/53727242706_dc067b1398_c.jpg)
In an iconic final scene from Paul Thomas Anderson’s 2007 film “There Will Be Blood,” prospector Daniel Plainview, played by Daniel Day-Lewis, reveals to a dumbfounded pastor who owns a once oil-rich piece of land that he has been draining his oil for years.
- “Here, if you have a milkshake, and I have a milkshake, and I have a straw. There it is, it’s a straw, you see? Watch it. Now, my straw reaches across the room and starts to drink your milkshake. I drink your milkshake. I drink it up!”
For Brazilian Mines and Energy Minister Alexandre Silveira, that is exactly what neighboring country Guyana is doing to Brazil’s potentially massive Equatorial Margin oil reserves. “Our brothers from Guyana are sucking on Brazil’s riches through a...