Private industry could get this oil up for likely a fraction of the cost. Too bad for Brazil, this payday will shrink them further into socialism...
You may be surprised. The quest for Perfect EPA compliance and ZERO accidents has brought endless pondering and paperwork.
I work for big oil and have worked for big guv, the difference is funding for small projects is faster with oil.
Not really. Petrobras is active in the U.S. Gulf of Mexico and is technically competent. They aren't hidebound and slow-moving like Petroleos Mexicanos, which is much more your stereotypical socialist enterprise.
PDVSA, the Venezuelan state enterprise, has been more like Petrobras in the past, but Chavez wants to turn it into something like Pemex has been.
Even Pemex doesn't want to be Pemex any more; they are finding that the demands being placed on them by Mexico's accelerating industrial economy require them to improve.