Previously on WMD, we learned that it wasn't the Chinese who is exploring for oil off the coast of Cuba, but rather Brazil. The Wall Street Journal has an interesting look in to the attitudes of the Brazilians on the subject of oil exploration that includes this insight:One company official explains the difference by saying that Brazilians understand the importance of energy to their future, while Americans do not.Now, I can see you thinking, "But, Matt, that's some Brazilian oil baron!" Yes, yes, that is true. But you might be surprised to know, that the environmentalists in Brazil are a-okay with oil exploration too:
Another, equally important reason is that, according to Mr. Gabrielli, neither environmentalists nor Brazilian politicians have raised concerns about exploiting oil in the waters off the Brazilian coast.Of course, we are still relying on the oil baron's testimony, but this is the Wall Street Journal after all and not some right-wing blog...
I'm not sure I can go along with everything in the article, but it sure makes for an interesting read... I really hate this part, but I think it probably is true...
In the U.S., Congress doesn't have nearly such a vested interest in a successful oil industry. What good are corporate profits if they go to shareholders, pensioners and employees? Congress has even been denied the windfall profits tax. For American politicians there is a much greater incentive to respond to the concentrated power of the special interest group known as the "greens."For a good deal of the political class in the US, it's not about what is best for the constituents that they represent, it's about how to get re-elected.
