Ecuador Scraps Plan to Block Rain Forest Oil Drilling

The decision by Ecuadorian President Rafael Correa to abandon a plan to spare the species-rich Yasuní rain forest in eastern Ecuador from oil development has dashed hopes for what environmentalists had hailed as a historic approach to weaning industrial society from its dependence on fossil fuels. ...

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China May Assist in Venezuela’s Land Planning for Oil Production

Venezuela-China Cooperation Agreement on Hydrocarbons, Petrochemicals, and Mining, which became effective on July 30, 2013 upon its publication in the Official Gazette, the Asian giant will be allowed to cooperate in land planning in Venezuela within the framework of the projects on hydrocarbons, petrochemicals, and mining. ...

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Brazil Set to Profit from Surge in Ethanol Demand

Ethanol is in high demand in Brazil and across the world. As the largest sugar producer ethanol, Brazil is set to profit as the price of biofuel at the pump is now more competitive than gasoline on the open market, according to Sao Paulo-based trader and producer Copersucar SA (note: in the US, oil and gasoline are heavily subsidized). ...

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