Opinion, by Michael Royster
The Curmudgeon has never quite believed the “sky is falling” rhetoric of Rio de Janeiro politicos over the Ibsen Amendment. After all, the Amendment calls for all the royalties earned from offshore drilling to be distributed among the several states (27) and the several thousand municipalities (over 5,500) according to the distributive criteria of the FPE and the FPM, which makes it sound as if Rio will get its fair share. The Curmudgeon was wrong, the rhetoric is right.
FPE and FPM are the funds whereby Federal Government tax revenue is shared out. Brazilian Constitutions . . .