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Opinion, by Michael Royster

RIO DE JANEIRO, BRAZIL - Brazil’s most sacred cow is Petrobras. When calved in 1953, its birthright included a monopoly over the exploration, production, development, refining and distribution of oil and gas. It lost that monopoly in 1995, but it has never lost its monopolist mentality.

Worse yet, during his term as President, Lula treated Petrobras as his own personal political fiefdom. There . . .

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