Having said that I came across an interesting story – while Detroit depleted their billions on developing trucks that would, in retrospect, achieve the ostentatious goal of building bigger engines for urban vehicles, Brazil spent its research on achieving 100% fuel independence. The secret to their miracle was E85, which is 85% percent alcohol distilled from corn or sugarcane and 15 percent gasoline.
This has immense implications for Brazil’s economy. Its growth will no longer be tethered by OPEC regulated pricing. Oil prices are in a flux due to a number of reasons – Instability in the Middle East, the rising cost of excavation, an ever increasing demand for Petroleum from the newly industrialized world i.e. India and China.
Independence from Foreign Oil means that Brazil will be able to hedge against these rising concerns, insulating its economy against a sizeable risk, and in turn attracting foreign investors who see this as a potential haven.
Every socially responsible country must take positive steps in this direction to negate the influence of fluctuating foreign oil prices, secure a stable future, and chart a sustainable path forward.
citizen.africa 