Opinion, by Michael Royster
RIO DE JANEIRO, BRAZIL - “O Petróleo é Nosso!” (“It’s Our Oil!”) was the joyful cry of Brazilian nationalists in the early 1950s; the government had created a monopoly in all things oily and gassy which would last for over forty years. In 1995, when the Plano Real(ity) visionaries decided to allow others inside Brazil’s playpen, street demonstrators carried signs saying “Defenda o Monopólio!”
Petrobras (the monopolist in question), prospered, as do all operations that . . .
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