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Brazil's New Oil Wealth: Three ETFs to Watch

Michael Johnston submits:

For many Americans, the idea of “reducing our dependence on foreign oil” seems like an enormous undertaking. Decades after the push for developing green energy sources began, little progress has been made. The spectacular failures (remember the ethanol experiment?) have far outnumbered the mild successes. Solar power technology has improved by leaps and bounds, but it still hasn’t been proven as financially viable, and the U.S. trails badly behind China and Japan in the race to become the world’s dominant player. Although there is seemingly a Prius on every street corner, rising gas prices hurt just as much as ever.

Sao Paolo, The Financial Center of Latin AmericaMaybe we could learn a thing or two from Brazil. Following severe energy shortages more than 30 years ago, Brazil has successfully carried out a green energy revolution. The country that once imported 85% of its oil is now a net exporter. The Latin American nation (and potential Olympic host) relies on hydroelectric power for more than 80% of its energy needs and utilizes ethanol (or a gas/ethanol combination) to power 90% of the cars on its roads.


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Published Friday, September 04, 2009 3:14 AM
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