Next front in the oil wars–Brazil?

Watch out, Lula. With every one of these finds you make, you end up endangering yourself and your country…

Further oil and gas supplies have been discovered off the south-eastern coast of Brazil, boosting the shares of state energy firm Petrobras.

The emergence of a new reserve in the Espirito Santo field comes a month after a reserve of up to eight billion barrels was found nearby.

No figures have been put on the size of the latest discovery although Petrobras said it offered “high potential”.

It believes Brazil could become one of the world’s top 10 oil producers.

Brazil currently has proven oil reserves of 14 billion barrels, more than half of which have been discovered in the past five years.

Ministers believe a succession of recent finds could enable Brazil to eventually match the oil output of powerhouses such as Venezuela and Saudi Arabia.

This would be a good time for Brazilian voters to turf out every last right-wing free-trader in their parliaments, and elect someone who will put that oil money to good use developing the country from within. You know, somebody like Chavecito. Only speaking Portuguese rather than Spanish.

Of course, as soon as they do that, Washington will want a piece of their ass, too.

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