Many Americans have the vague (and false) impression that a massive conversion to ethanol production eliminated Brazil's need to import oil. Brazil did indeed promote bio—fuel. But the real credit for ending oil imports goes to those evil oil drillers working in Brazil, unleashed on the environment by the same government earning greenie kudos for biomass conversion. Brazil is better—known for its ethanol, but the bulk of what they are doing to gain fuel self—sufficiency is actually drilling for oil. Eighty percent of Brazil's energy is its own oil.  Less than a week ago Brazil declared independence from imported oil amidst publicity for its ethanol promotion. One offshore platform just opened in Brazil's South Atlantic this past weekend by itself will yield more energy than all the ethanol in Brazil. Why can't the U.S. do the same and drill its own oil? That's something Congress ought to really be debating, not this price—gouging nonsense....(Read Full Post)