Bill Clinton: Brazil No. 1 among rising economies

Brian Winter – Reuters, 08/28/2012

Brazil appears to have the best long-term prospects among rising economic powers, thanks to its stable policy framework, ample natural resources and good relationship with its neighbors, former U.S. President Bill Clinton said on Tuesday in a ringing endorsement of an economy that has struggled lately.

“If I were just sitting in a room betting on the future of rising countries, I’d bet on Brazil first,” Clinton said.

Brazil’s economy has been stagnant for the past year and is expected to grow only 1.7 percent in 2012 – less than half the projected average in Latin America. Some business leaders believe the country’s credit and commodities-led growth model has been nearly exhausted and are calling on the government to cut taxes and take other urgent steps to stimulate investment.

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At Brazil summit, World Bank and international coalition pledge to reduce greenhouse gases

Associated Press/Washington Post, 06/01/2011

The World Bank and 40 cities from around the world joined forces Wednesday with a pledge to reduce greenhouse gas emissions.

The bank reached the agreement with the C40 Cities Climate Leadership Group, a coalition founded in 2005 with the aim of reducing carbon emissions. Its chairman is New York City Mayor Michael R. Bloomberg.

Bloomberg, World Bank President Robert Zoellick and former President Bill Clinton announced the new partnership during the opening session of the C40 Large Cities Climate Summit.

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Vale to invest $1.5 billion in Brazil dam following CEO ouster

Juan Pablo Spinetto and Jessica Brice – Bloomberg, 04/29/2011

April 29 (Bloomberg) — Vale SA, the Brazilian miner that announced the ouster of its chief executive amid government criticism, agreed to buy a stake in a hydro-power project in the Amazon and invest about 2.3 billion reais ($1.5 billion).

Vale, the world’s second-largest miner by market value, said in a regulatory filing yesterday its board approved buying as much as 9 percent of Norte Energia SA, which will build and operate the Belo Monte dam, from Gaia Energia & Participacoes SA. Rio de Janeiro-based Vale will reimburse Gaia for expenditures made and assume its future investment commitments.

The deal comes less than a month after Vale said it would replace Chief Executive Officer Roger Agnelli amid criticism from Brazil’s government, which has direct and indirect stakes, that it wasn’t doing enough to help generate jobs. The 25.8 billion-real dam, which will flood 516 square kilometers (199 square miles) of the world’s largest rainforest, is a key piece in the government’s plan to increase energy supplies.

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Bill Clinton’s corn sense

The Wall Street Journal, 02/25/2011

America’s political addiction to ethanol has consequences, from raising the price of food to lining the pockets of companies like Archer Daniels Midland. So we’re delighted to see another prominent booster—Bill Clinton—see the fright.

We have to become energy independent” but “we don’t want to do it at the expense of food riots,” the former President told an agriculture conference Thursday. He urged farmers to consider the needs of developing countries—the implication being that the diversion of corn to ethanol production limits food supplies and artificially raises prices.

No kidding. At the same gathering, Department of Agriculture chief economist Joseph Glauber did the math. Despite a forecasted 4% increase in corn planting, Mr. Glauber expects corn used for ethanol to hit a record five billion bushels in 2011-12, or more than one-third of total U.S. production, thanks to renewable fuel mandates and tax incentives. Corn prices recently hit two-and-a-half-year highs.

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