Lula’s Brazil Doubles Down on Oil and Cash ...Middle East

A new offshore oil auction in the Amazon, a major investment in refinery expansion, and an attempt to extract $6.2 billion from the energy industry—this may not sound very appropriate for a government that has made some big net-zero promises. Yet it is exactly what the Lula da Silva government in Brazil is doing. South America’s biggest country produces around 3.5 million barrels of crude daily. It also recently auctioned 19 blocks in the Foz do Amazonas basin, part of the Equatorial Basin and a highly sensitive ecosystem, according…

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