Brazil's Lula hails new oil find as 'passport to the future'

Brazilian President Luiz Inacio Lula da Silva expressed optimism about the recent discovery of oil near the Amazon coast, describing it as a "passport to the future." This statement came despite strong opposition from environmentalists who oppose drilling in the area. The oil giant Petrobras announced last week that it had identified hydrocarbons off the coast of northern Amapa state, nearly a year after it began drilling.

The majority state-owned firm had to undergo a five-year process to obtain an environmental permit before starting exploration.

Lula, dressed in a Petrobras orange jumpsuit, stated during a visit to the company's operations base that the discovery would be beneficial for Brazil's future. He clarified, however, that this did not mean he was against his goal of one day achieving energy independence. "I'm going to keep it in a chest, it's so good, it smells so good," Lula joked, brandishing a vial containing a crude sample.

While Lula supports the gradual transition away from fossil fuels to combat climate change, he believes Brazil requires oil revenues to finance this transition and to achieve energy sovereignty. The oil was found in the Equatorial Margin, approximately 175 kilometers off the Amazon coast. Petrobras President Magda Chambriard indicated that an additional 15 to 20 days of drilling would be necessary to determine the exact size of the field.

Environmental experts have long warned that burning fossil fuels is the primary cause of global warming, and environmentalists argue that the drilling could jeopardize a region teeming with biodiversity, located off the coast of the world's largest rainforest. Lula, who is 80 years old, is currently seeking a fourth non-consecutive term in the upcoming October elections.