Oil finances health, education and energy transition, says Silveira

The Minister of Mines and Energy, Alexandre Silveira, stated this Tuesday (16 January 2024) that Brazil will continue to seek new oil discoveries and that this strategy does not constitute a contradiction with the speech of the government of President Luiz Inácio Lula da Silva (PT) on prioritizing the energy transition. The minister participates in the 54th World Economic Forum, in Davos, Switzerland.

Silveira said that Brazil cannot give up its natural wealth and the chance to use these resources to promote socioeconomic development. The minister also argued that the country’s energy matrix is ​​one of the cleanest in the world and that the resources it extracts from oil finance advances in renewable sources.

“We have the best electrical energy matrix on the planet and we have one of the best energy matrices in the world, but we still have oil as a great national wealth, including financing health, education and the energy transition itself”said Silveira in an interview with GloboNews.

Silveira explained that the decreasing curve of potential oil reserves found in Brazil begins in 2028 and that the country could become an oil importer from 2032. “We cannot allow the possibility of becoming importers of crude oil”these.

According to the minister, the most developed countries have not yet delved into the energy transition and have made promises that are never implemented. This has made the horizon of the effective transition from the oil energy matrix distant and uncertain.

Silveira cited France as an example of a country that criticizes oil exploration in the territory where other countries are sovereign, but that does not give up the revenue it acquires from oil search and production activities.

“France, which is so critical of oil exploration, does not have oil reserves, so it criticizes oil a lot, but it has the 4th largest oil company in the world, which is TotalEnergies, in other words, the world still needs this energy source ”he stated.

LULA GOVERNMENT IN DAVOS

Silveira and ministers Marina Silva (Environment) and Nísia Trindade (Health) participate in the 54th World Economic Forum in 2024. They are part of the reduced Brazilian delegation at the event. Lula and Minister Fernando Haddad (Finance) chose not to attend.