Brazilian President Luiz Inacio Lula da Silva said, Brazil will direct future revenues from recent discoveries of deep-water crude reserves in so-called pre-salt  which lie 16,400 feet and 22,966 feet below sea level, toward education and combating poverty. Speaking in a nationally-broadcast, commemorating Brazil’s independence from Portugal in 1822, Lula said “The priority for the [...]

September 7th, 2008 | Tags: brazilian president, eradicate poverty, luiz inacio lula da silva, lula, lula da silva, offshore oil, petrobras | Category: Business and Economy | Leave a comment