Brazil's President Wants Oil Money To Fight Poverty

Law360, New York (August 18, 2008, 12:00 AM EDT) -- The future of oil regulation in Brazil following the discovery of expansive reserves in the sub-salt layer of the Santos Basin last year is once again in the spotlight, with President Luiz Inacio Lula da Silva calling for changes to the country's petroleum law that would channel oil-related profits to combat poverty.

“We need to change the petroleum law in this country. We need to use this wealth for the poor. Part of the money should go towards solving the country's problems, like education, and should...
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