03 Aug '11, 6pm

Will Oil Consumers Tighten Their Belts?: A Brazilian oil executive predicts that oil demand will be met in comin...

Will Oil Consumers Tighten Their Belts?: A Brazilian oil executive predicts that oil demand will be met in comin...

Bloomberg News Petrobras’s P-51 platform in the Marlim Sul field, some 90 miles off the Brazilian coast. There’s always a lot of concern about energy, especially when very hot weather reminds us of climate change and headlines warn that unrest in the Middle East could drive up oil and gasoline prices again at any moment. But Petrobras’s chief executive, José Sergio Gabrielli de Azevedo, who is in the United States this week talking up his company’s new business plan, sees reason for optimism. Petrobras is the growing energy giant in the developing world, and perhaps the single biggest example of Brazil’s emergence as a world economic power. Brazilians are known to be upbeat, and Mr. Gabrielli de Azevedo is no exception. He sees a “very tight market” for oil in the near term, but over the next 20 years or so, he thinks producers will be able to meet demand. “We are not goin...

Full article: http://green.blogs.nytimes.com/2011/08/03/will-oil-consum...

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