Brazil's Coming Oil Dependence

Few countries are as blessed with energy resources as Brazil. Hydroelectric plants on its river systems provide approximately 85 per cent of its electricity. It is the world’s second biggest producer of biofuels, after the US. It has great potential for new, renewable energy sources such as biomass and wind power. And recent discoveries of what promise to be huge oil fields off its coast seem certain to make it one of the world’s biggest oil-producing nations. In spite of this, Brazil has struggled to secure cheap and reliable energy supplies. Read more in the Financial Times.