Commodity Corner – Brazil’s Big Oil Bet – The Mangru Report on Fox Business – Episode 20 October 10, 2010Posted by Admin in Market Commentary, Panel Discussion.
Tags: America, analysis, Anthony Pulieri, billion, brazil, commentary, deposits, drill, economic, economy, environment, euro-pacific capital, government, hot topics, ignacio, interviews, john browne, lula, michael solomon, middle east, natural resources, news, offshore, oil, pbr, petrobras, politics, raise, rousseff, silva, socialist, stock, talk show, talking, television, United Bullion Group, where did my america go
While most people in America have been focusing on an upcoming General Motors (GM) IPO that was supposed to be some $70 billion dollars, it seems that Brazil has beat us to the punch. Recently, state-run Brazilian oil giant Petrobras (NYSE: PBR) raised some $70-75 billion in a secondary stock offering that was completed late September to finance the company’s growth and expansion, in particular new offshore deposits of oil found off the coast of Brazil.
Watch Dan Mangru and the Mangru Report Panel of Experts composed of John Browne (Euro-Pacific Capital), Anthony Pulieri (United Bullion Group), and Michael Solomon (Author, Where Did My America Go?) discuss whether the $75 billion was a good bet on Petrobras, whether the incoming Brazilian government will take Petrobras in a more socialist direction, and how the U.S. is invested in offshore oil in Brazil but not in America.