Brazil's energy company, Petrobras, inaugurated a new offshore platform on June 3 in Angra dos Reis. Brazil has located major offshore oil fields and plans to greatly increase production in the coming years.
Credit Ari Versiani / AFP/Getty Images
When people say Brazil won't be the next Saudi Arabia, they mean it in a good way.
Brazil has discovered enormous oil reserves far off its coast, but the country's robust and varied economy means it shouldn't become dependent on oil.
"Brazil is not just going to be an oil exporting country," says Paulo Sotero, director of the Brazil Institute at the Woodrow Wilson Center for International Scholars. "That's not all it's going to do."
Often conflated, often confused, fiscal and monetary policies take very different approaches to influence the economy. And use two very different departments: the government and the Fed. Senior Editor Paddy Hirsch explains.
Europeans are worried that countries like Italy and Greece, struggling with heavy debts, could fail, and threaten the Euro. Their solution – a Eurobond. Senior Editor Paddy Hirsch explains what a Eurobond is, and why some people don’t like the idea.