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18 March 2010
BRASIL: Rio Embroiled In Oil Royalties Fight.
NYTIMES/ A bill that would share oil royalties and deny the state of Rio and other oil-producing states billions of dollars is under consideration in the congress and causing much consternation. If passed, Rio’s annual oil revenue would fall to about $134 million from about $4.3 billion. “No one has the right to take away that which nature has put within the limits of Rio de Janeiro,” said Rio minister Carlos Lupi. Two congressmen from non-producing states, Ibsen Pinheiro and Humberto Souto, proposed equal distribution of oil royalties to states and municipalities.