|
|
|
|
Search: 
Latin American Herald Tribune
Venezuela Overview
Venezuelan Embassies & Consulates Around The World
Sites/Blogs about Venezuela
Venezuelan Newspapers
Facts about Venezuela
Venezuela Tourism
Embassies in Caracas

Colombia Overview
Colombian Embassies & Consulates Around the World
Government Links
Embassies in Bogota
Media
Sites/Blogs about Colombia
Educational Institutions

Stocks

Commodities
Crude Oil
US Gasoline Prices
Natural Gas
Gold
Silver
Copper

Euro
UK Pound
Australia Dollar
Canada Dollar
Brazil Real
Mexico Peso
India Rupee

Antigua & Barbuda
Aruba
Barbados
Cayman Islands
Cuba
Curacao
Dominica

Grenada
Haiti
Jamaica
Saint Kitts and Nevis
Saint Lucia
Saint Vincent and the Grenadines

Belize
Costa Rica
El Salvador
Honduras
Nicaragua
Panama

Bahamas
Bermuda
Mexico

Argentina
Brazil
Chile
Guyana
Paraguay
Peru
Uruguay

What's New at LAHT?
Follow Us On Facebook
Follow Us On Twitter
Most Viewed on the Web
Popular on Twitter
Receive Our Daily Headlines


  HOME | Brazil (Click here for more)

Big Rio March Against Brazil Oil Royalty Plan

RIO DE JANEIRO – Thousands of demonstrators took to the streets of this metropolis Thursday to protest a bill calling for oil royalties to be evenly shared among all of Brazil’s states.

Marching under the banner “Against Injustice, In Rio’s Defense,” thousands of festive protesters made their way along the downtown Avenida Rio Branco.

Brazil’s Senate approved the bill last month and it now must be analyzed by a special committee before being voted on by the full lower house.

According to media estimates, Rio de Janeiro, the country’s largest oil-producing state, would lose an estimated 125 billion reais ($69 billion) in revenue over the next nine years if the controversial bill becomes law.

“We can’t remain indifferent. This is a demonstration against a confiscation of Rio’s wealth and has nothing to do with political parties,” the president of the Federation of Industries of Rio de Janeiro State, Eduardo Eugenio, said.

The plan to more broadly distribute oil royalties also could adversely affect the producer states of Espirito Santo, Piaui, Rio Grande do Norte, Ceara, Maranhao, Para and Amapa.

Rio state Gov. Sergio Cabral said the proposed legislation would infringe upon Rio de Janeiro city’s ability to bear the costs of hosting the 2014 soccer World Cup and the 2016 Olympics.

Thousands of public employees took part in Thursday’s rally after being given permission to leave work early, while state authorities chartered dozens of buses that transported thousands of people to Rio from other municipalities.

All those wanting to go downtown for the march also were allowed to ride for free on the Rio metro.

Cabral had said in recent days that about 100,000 people were expected to turn out for the protest but organizers did not indicate Thursday how many participated.

The fierce debate over how to distribute oil wealth has arisen after the discovery of massive offshore deposits in recent years.

Those ultra-deep reserves are located in the so-called “pre-salt” region off the coasts of Sao Paulo and Rio de Janeiro states, Brazil’s two wealthiest by gross domestic product. EFE
 

Enter your email address to subscribe to free headlines (and great cartoons so every email has a happy ending!) from the Latin American Herald Tribune:

 

Copyright Latin American Herald Tribune - 2005-2021 © All rights reserved