• 5 minutes Covid-19 logarithmic growth
  • 8 minutes Why Trump Is Right to Re-Open the Economy
  • 12 minutes Charts of COVID-19 Fatality Rate by Age and Sex
  • 14 minutes China Takes Axe To Alternative Energy Funding, Slashing Subsidies For Solar And Wind
  • 5 mins Which producers will shut in first?
  • 14 mins The Most Annoying Person You Have Encountered During Lockdown
  • 8 mins Its going to be an oil bloodbath
  • 9 hours We are witnesses to the end of the petroleum age
  • 17 hours As Saudi Arabia Boosts Oil Output, Some Tankers Have Nowhere to Go
  • 14 hours Breaking News - Strategic Strikes on Chinese Troll Farms
  • 9 hours Saudi Aramco struggling to raise money for this year's dividend of $75 billion. Now trying to sell their pipelines for $10 billion.
  • 22 hours Death Match: Climate Change vs. Coronavirus
  • 12 hours A New Solar-Panel Plant Could Have Capacity to Meet Half of Global Demand
  • 13 hours >>The falling of the Persian Gulf oil empires is near <<
  • 16 hours Natural gas price to spike when USA is out of the market
Coronavirus Could Lead To Mass Layoffs In Oil And Gas

Coronavirus Could Lead To Mass Layoffs In Oil And Gas

Covid-19 is not only impacting…

Why Are Tesla Cars So Popular?

Why Are Tesla Cars So Popular?

From their sleek futuristic design…

Brazil to Triple Funding for Renewable Energy and Biofuel Research

Brazil to Triple Funding for Renewable Energy and Biofuel Research

Brazil has one of the largest, fastest growing economies in the world, and also some of the largest offshore oil reserves in the word. However, rather than relying on that oil to fuel its economic growth it has decided to focus on renewable energies and biofuel.

The Brazilian government has announced that it will spend $2.85 billion on renewable energy and biofuel research and development, hoping that the new energy sources and technology will bring its energy industry into the modern age, and help it cut its carbon emissions.

Alexandre Tanaka, from Financiadora de Estudos e Projetos (FINEP) a Brazilian research and finance agency, told Bloomberg that the President Dilma Rouseff wants to triple the funds available to innovative technology companies, as the country attempts to become a supplier of quality energy technology and processes, as opposed to purchasing from other countries.

Related article: How Renewable Energy will Benefit from US Natural Gas Exports

Under a new government program aimed at encouraging development in innovative technology, FINEP and the Brazilian Development Bank (BNDES) will provide loans to any companies working on renewable energy or biofuel research at rates as low as 3.5%.

Mark Kenber, CEO of The Climate Group, said that the “government investment to support innovation in clean energy technology will drive job creation and offer green investors incentives and stability, which will help Brazil compete with in the fast expanding clean energy markets around the world.

Brazil has huge potential to lead the global clean revolution, and with plans like these it looks like the nation is now ready to kick-start such efforts.”

By. Joao Peixe of Oilprice.com



Join the discussion | Back to homepage




Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News