Daniel Chavez Moran, a retired developer of five-star hotels and resorts throughout Latin America, founded the non-profit Vidanta Foundation to support public policies that strengthen democracy, promote economic and social development, and further integrate Latin America into the global economy. This Wall Street Journal article about oil discoveries energizing Latin America’s future came to his attention:
RIO DE JANEIRO (Dow Jones)–Brazil’s emergence as a hot frontier for oil and natural gas was boosted Wednesday by two fresh discoveries, with exploration and development of the country’s newfound oil wealth likely to attract billions in investments over the next decade.
Latin America’s largest country is squarely in the cross hairs of the global oil industry, with Brazil’s stable democracy and robust economic growth making it especially attractive…
Brazil is betting heavily on development of its offshore fields, with former President Luiz Inacio Lula da Silva–the predecessor and mentor to current head of state Dilma Rousseff–saying oil could transform the country by easing the crushing poverty afflicting many of its citizens…oil exports could reach 600,000 barrels a day by 2020 and generate $27.9 billion in revenue. That’s nearly double the $16.1 billion in oil-export revenue Brazil earned in 2010.