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obama serves the corporations, not america.
the oil multinationals want brazil to give them a larger role in tapping that new deepwater find - and obama is pressuring brazil to let the corporations in with preferential treatment and sweet deals.
the winner in this deal, as in so many of these deals, are the multinat oil corps.
Brazil is in no hurry to drill that deep oil - which will take some 5 to 10 years to bring the fields fully online, minimum - because it knows the longer it waits the better price it gets, and the higher the profit margins on what is a very expensive and technically difficult deep drilling job - one of the deepest ever attempted.
The important thing to know about that oil is that it is believed to be largely light sweet crude, the highest profit type of oil, and militarily the most important, because it can be refined the most quickly with the simplest type of refinery.
the multinats are excited about it because it's the largest discovery of light sweet that isn't owned by one of the sovereigns made in teh last 40 years - it represents a leverage against OPEC control, a control that has been pushing the multinats out of the most profitable oil patches.
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