RIO DE JANEIRO — Brazil’s efforts to become one of the world’s major oil producers have attracted businesses such as U.S. drilling giants Halliburton and Baker Hughes, gained it partnerships with oil companies from India and China, lured immigrants from idyllic Norway and drawn investment dollars from American pension funds in Florida, South Carolina and California.
But the prospects for success have darkened in the seven years since Brazil first identified massive oil deposits in deep water off its coast. Many fear that Brazil’s chance to become one of the world’s major energy producers is fading as the global energy landscape changes dramatically. Continue reading