Brazil has displayed immense economic growth in the past decade and gained more international influence. But a serious impediment to further growth is poor infrastructure, particularly in terms of energy consumption.
The US and Brazil have worked together on biofuel development, exploring offshore oil reserves, expanding the utilization of natural gas, and reducing the reliance on carbon, according to a Council on Foreign Relations report on US-Brazil relations.
During Obama’s March 2011 visit to Brasilia, the two presidents announced the Strategic Energy Dialogue to expand energy cooperation and promote energy security. The initiative also promises to involve private sector cooperation, according the the US Department of Energy. The US pledged $1 billion to boost oil infrastructure in Brazil last year, according to Mercopress.
