BRASIL/UK: Risky Deep Offshore Drilling Subsidized By Brits.

GUARDIAN EXCLUSIVE /     "The British government is subsidising one of the world's largest and riskiest oil-drilling projects in the Atlantic Ocean and would be liable for tens of millions of pounds if a major accident took place. Documents seen by the Guardian show that UK trade ministers underwrote loans taken out by the Brazilian state-run energy company Petrobras in 2005 in order that Rolls Royce and other companies could contribute to the building of the giant P-52 platform.  The platform is now operating 125km off the coast of Brazil in 1,798 metres (5,900 feet) of water - deeper than BP's Deepwater rig that exploded in April and led to the disastrous oil spill in the Gulf of Mexico."
AND..."Environmental groups today accused the government of forcing British taxpayers to underwrite a project that could lead to a disaster similar to the spill in the Gulf of Mexico."