American Samizdat

Sunday, June 19, 2005. *
Three decades after the first oil shock rocked its economy, Brazil has nearly shaken its dependence on foreign oil. More vulnerable than even the United States when the 1973 Middle East oil embargo sent gas prices spiraling soaring, Brazil vowed to kick its import habit. Now the country that once relied on outsiders to supply 80 percent of its crude is projected to be self-sufficient within a few years. [...] Today about 40 percent of all the fuel that Brazilians pump into their vehicles is ethanol, known here as alcohol, compared with about 3 percent in the United States. No other nation is using ethanol on such a vast scale. The change wasn't easy or cheap. But 30 years later, Brazil is reaping the return on its investment in energy security while the United States writes checks for $50-a-barrel foreign oil.
posted by Trevor Blake at 9:24 AM
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