Monday, November 19, 2007

Brazil Moving Forward With Nuclear Sub Program to Protect Offshore Oil Reserve

Brazil is looking to build a nuclear submarine (or two) to protect the recently-discovered Tupi offshore oil reserve that has been described as "a massive find".

President Lula da Silva authorized $540 million in funding for the nuclear submarine program, which has been talked about for years, but never pushed as hard as it is now. Silva has also been trying to push forward with restarting the building of nuclear power plants as a cleaner, more efficient way of producing energy.

Nonetheless, this oil find is big news for South America's largest and strongest economy, especially considering that they are a key U.S. ally in the Western Hemisphere.

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