IBOV 175,699.79 ▼ 0.53% IPSA 11,036.77 ▲ 0.11% IPC MEX 66,529.27 ▲ 0.85% MERVAL 3,251,266 ▲ 0.68% COLCAP 2,294.60 ▼ 0.18% BVL PERÚ 57,174.37 — — USD/BRL5.08▲ 0.11% USD/MXN17.39▼ 0.20% USD/CLP924.58▼ 0.21% USD/COP3,237▲ 0.04% USD/PEN3.40▲ 0.18% USD/ARS1,473▲ 0.17% USD/UYU40.15▲ 1.04% USD/PYG6,039▲ 1.28% USD/BOB10.65▲ 5.99% USD/DOP58.27▼ 0.05% USD/CRC447.49▲ 0.88% USD/GTQ7.62▲ 2.09% USD/HNL26.73▼ 0.01% USD/NIO36.62▲ 0.31% USD/VES723.93▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.72▲ 0.14% USD/TTD6.76▲ 1.32% EUR/BRL5.81▼ 0.78% BRENT 83.77 ▼ 1.13% WTI 78.67 ▼ 0.84% IRON ORE 161.91 — — COPPER 6.38 ▲ 0.74% GOLD 4,053 ▼ 0.21% SILVER 58.01 ▼ 1.30% SOY 1,201 ▼ 0.54% CORN 469.00 ▲ 8.13% WHEAT 678.75 ▲ 7.52% COFFEE 334.25 ▼ 0.87% SUGAR 14.88 — 0.00% ORANGE JUICE 136.85 ▼ 2.42% COTTON 81.20 ▲ 2.01% COCOA 5,874 ▲ 3.78% BEEF 226.95 ▼ 1.93% CATTLE 350.28 ▲ 0.42% LITHIUM 70.84 ▼ 1.04% PETR4 40.45 ▼ 0.52% VALE3 74.29 ▲ 0.38% ITUB4 43.37 ▼ 0.60% BBDC4 18.55 ▼ 0.43% ABEV3 15.70 ▼ 0.70% BBAS3 20.59 — 0.00% B3SA3 15.75 ▲ 2.74% WEGE3 43.79 ▼ 0.93% PRIO3 57.53 ▼ 0.07% SUZB3 41.88 ▲ 1.87% RENT3 40.56 ▲ 0.05% AZZA3 18.75 ▼ 0.53% CSAN3 3.84 ▼ 1.29% RAIZ4 0.30 ▼ 3.23% PCAR3 2.30 ▼ 6.12% GMAT3 3.98 ▲ 0.51% PSSA3 55.16 ▲ 1.60% CVCB3 1.37 ▼ 0.72% POSI3 3.94 ▼ 1.25% SLCE3 13.66 ▼ 1.09% NATU3 8.54 ▼ 0.12% BRKM5 6.41 ▼ 6.15% RANI3 8.06 ▲ 0.62% CSNA3 5.11 ▼ 1.73% CMIN3 5.07 ▼ 0.59% USIM5 8.11 ▼ 1.46% GGBR4 23.66 ▲ 1.46% ENEV3 27.04 ▼ 0.48% CPFE3 47.16 ▼ 0.08% CMIG4 11.16 ▼ 0.36% EQTL3 40.74 ▼ 0.51% LREN3 14.15 ▼ 0.98% VIVT3 35.51 ▼ 0.03% RAIL3 14.06 ▼ 0.50% KLABIN 17.48 ▲ 0.92% RAIA DROGASIL 18.69 ▲ 0.48% RDOR3 36.17 ▲ 0.33% HAPV3 11.06 ▼ 1.16% FLRY3 16.54 ▲ 0.79% SMTO3 15.63 ▼ 3.04% UGPA3 30.57 ▲ 1.53% VBBR3 33.46 ▲ 0.48% BBSE3 40.63 ▲ 0.59% BPAC11 57.46 ▼ 0.85% CURY3 33.37 ▼ 0.66% AERI3 2.04 ▼ 1.45% VIVARA 23.35 ▼ 0.34% COMPASS 25.10 ▼ 0.40% VAMOS 3.09 ▼ 1.90% SANB11 27.12 ▼ 0.80% ASAI3 8.80 ▲ 1.62% SBSP3 30.23 ▼ 0.36% WALMEX 50.00 ▲ 1.48% GMEXICO 200.36 ▲ 0.40% FEMSA 227.14 ▼ 0.95% CEMEX 22.75 ▲ 2.48% GFNORTE 185.19 ▼ 0.54% BIMBO 57.40 ▲ 1.85% TELEVISA 9.63 ▲ 1.05% AMX 22.81 ▼ 0.18% GAP 393.39 ▼ 0.47% ASUR 282.06 ▲ 2.34% OMA 237.59 ▲ 1.09% KOF 179.69 ▼ 0.11% GRUMA 279.74 ▲ 0.12% KIMBER 38.82 ▲ 0.99% SQM-B 66,292 ▼ 2.37% COPEC 6,230 ▲ 0.32% BSANTANDER 77.53 ▼ 1.41% FALABELLA 5,872 ▼ 0.05% ENELAM 85.60 ▼ 0.17% CENCOSUD 2,042 ▲ 0.10% CMPC 1,093 ▼ 0.91% BANCO CHILE 187.13 ▼ 1.25% LATAM AIR 25.01 ▲ 0.44% YPF 77,400 ▼ 0.48% GGAL 8,000 ▲ 1.14% PAMPA 5,195 ▼ 0.67% TXAR 665.00 ▲ 0.45% ALUAR 948.50 ▼ 0.05% TGS 9,790 ▲ 0.82% CEPU 2,326 ▼ 0.04% MIRGOR 16,475 ▼ 1.64% COME 45.42 ▼ 0.72% LOMA NEGRA 3,590 ▲ 1.63% BYMA 303.75 ▲ 0.91% TELECOM ARG 4,343 ▲ 0.23% ECOPETROL 15.99 ▼ 1.05% BANCOLOMBIA 81.79 ▼ 0.38% GRUPO AVAL 4.99 ▲ 0.71% CREDICORP 396.63 ▲ 1.12% SOUTHERN COPPER 179.35 ▼ 1.66% BUENAVENTURA 30.25 ▼ 2.51% MERCADOLIBRE 1,848 ▼ 1.38% NUBANK 14.04 ▲ 0.32% XP 17.04 ▲ 0.98% PAGSEGURO 9.27 ▼ 0.16% STONE 11.29 ▼ 0.13% GLOBANT 32.25 ▲ 4.29% TECNOGLASS 45.31 ▲ 2.44% GAP AIRPORT 226.74 ▲ 0.35% ASUR 282.06 ▲ 2.34% OMA AIRPORT 109.14 ▲ 1.39% AMX ADR 26.20 ▲ 0.08% FEMSA ADR 130.65 ▼ 1.89% CEMEX ADR 13.10 ▲ 2.34% PETROBRAS ADR 17.76 ▼ 0.89% VALE ADR 14.56 ▼ 0.21% ITAU ADR 8.54 ▼ 0.18% SANTANDER BR 5.38 ▼ 0.28% AMBEV ADR 3.06 ▼ 0.97% CSN 1.01 ▼ 1.94% GERDAU 4.67 ▲ 1.35% LATAM ADR 54.74 ▲ 2.30% BTC 65,351 ▲ 0.61% ETH 1,930 ▲ 2.14% SOL 78.00 ▲ 0.31% XRP 1.12 ▲ 1.11% BNB 580.95 ▼ 0.14% ADA 0.17 ▲ 0.29% DOGE 0.07 — 0.00% AVAX 6.69 ▼ 0.11% LINK 8.56 ▲ 2.65% DOT 0.86 ▲ 0.50% LTC 45.64 ▲ 0.45% BCH 233.97 ▼ 1.07% TRX 0.33 ▲ 0.44% XLM 0.19 ▲ 1.39% HBAR 0.07 ▲ 1.33% NEAR 2.07 ▲ 3.03% ATOM 1.57 ▲ 0.70% AAVE 96.88 ▼ 2.03% SELIC 14.25% EMBRAER 81.86 ▼ 0.76% EMBRAER ADR 64.51 ▼ 0.62% JBS 12.09 ▲ 2.16% JBS BDR 61.28 ▲ 2.56% MBRF3 15.59 ▼ 3.11% MBRFY 3.04 ▼ 3.18% INTER 5.65 ▼ 0.88% EGX 52,558 ▲ 0.50% USD/ZAR16.32▼ 0.34% USD/NGN1,379▼ 0.25% NIKKEI 68,752 ▲ 1.49% CSI300 4,787 ▼ 0.20% HSI 24,681 ▲ 1.40% NIFTY 24,079 ▲ 0.11% KOSPI 7,284 ▲ 6.24% JCI 6,042 ▲ 0.04% USD/JPY162.13▼ 0.08% USD/CNY6.76▼ 0.20% DAX 24,999 ▼ 0.59% CAC 8,384 ▲ 0.20% FTSE 10,514 ▼ 0.15% MIB 52,413 ▼ 0.85% IBEX 19,279 ▼ 0.40% STOXX 642.69 ▲ 0.09% EUR/USD1.14▲ 0.18% GBP/USD1.35▲ 1.03% SPX 7,562 ▲ 0.25% DJI 52,688 ▲ 0.34% NDX 29,442 ▼ 0.49% RUT 2,983 ▲ 0.62% TSX 35,369 ▲ 0.14% VIX 16.23 ▼ 1.64% USD/CAD1.40▼ 0.07% US10Y 4.5610 ▼ 0.52% IBOV 175,699.79 ▼ 0.53% IPSA 11,036.77 ▲ 0.11% IPC MEX 66,529.27 ▲ 0.85% MERVAL 3,251,266 ▲ 0.68% COLCAP 2,294.60 ▼ 0.18% BVL PERÚ 57,174.37 — — USD/BRL 5.08 ▲ 0.11% USD/MXN 17.39 ▼ 0.20% USD/CLP 924.46 ▼ 0.23% USD/COP 3,232 ▼ 0.12% USD/PEN 3.40 ▲ 0.18% USD/ARS 1,473 ▲ 0.17% USD/UYU 40.15 ▲ 1.04% USD/PYG 6,039 ▲ 1.28% USD/BOB 10.65 ▲ 5.99% USD/DOP 58.27 ▼ 0.05% USD/CRC 447.49 ▲ 0.88% USD/GTQ 7.62 ▲ 2.09% USD/HNL 26.73 ▼ 0.01% USD/NIO 36.62 ▲ 0.31% USD/VES 723.93 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.72 ▲ 0.14% USD/TTD 6.76 ▲ 1.32% EUR/BRL 5.81 ▼ 0.78% BRENT 83.77 ▼ 1.13% WTI 78.67 ▼ 0.84% IRON ORE 161.91 — — COPPER 6.38 ▲ 0.74% GOLD 4,053 ▼ 0.21% SILVER 58.01 ▼ 1.30% SOY 1,201 ▼ 0.54% CORN 469.00 ▲ 8.13% WHEAT 678.75 ▲ 7.52% COFFEE 334.25 ▼ 0.87% SUGAR 14.88 — 0.00% ORANGE JUICE 136.85 ▼ 2.42% COTTON 81.20 ▲ 2.01% COCOA 5,874 ▲ 3.78% BEEF 226.95 ▼ 1.93% CATTLE 350.28 ▲ 0.42% LITHIUM 70.84 ▼ 1.04% PETR4 40.45 ▼ 0.52% VALE3 74.29 ▲ 0.38% ITUB4 43.37 ▼ 0.60% BBDC4 18.55 ▼ 0.43% ABEV3 15.70 ▼ 0.70% BBAS3 20.59 — 0.00% B3SA3 15.75 ▲ 2.74% WEGE3 43.79 ▼ 0.93% PRIO3 57.53 ▼ 0.07% SUZB3 41.88 ▲ 1.87% RENT3 40.56 ▲ 0.05% AZZA3 18.75 ▼ 0.53% CSAN3 3.84 ▼ 1.29% RAIZ4 0.30 ▼ 3.23% PCAR3 2.30 ▼ 6.12% GMAT3 3.98 ▲ 0.51% PSSA3 55.16 ▲ 1.60% CVCB3 1.37 ▼ 0.72% POSI3 3.94 ▼ 1.25% SLCE3 13.66 ▼ 1.09% NATU3 8.54 ▼ 0.12% BRKM5 6.41 ▼ 6.15% RANI3 8.06 ▲ 0.62% CSNA3 5.11 ▼ 1.73% CMIN3 5.07 ▼ 0.59% USIM5 8.11 ▼ 1.46% GGBR4 23.66 ▲ 1.46% ENEV3 27.04 ▼ 0.48% CPFE3 47.16 ▼ 0.08% CMIG4 11.16 ▼ 0.36% EQTL3 40.74 ▼ 0.51% LREN3 14.15 ▼ 0.98% VIVT3 35.51 ▼ 0.03% RAIL3 14.06 ▼ 0.50% KLABIN 17.48 ▲ 0.92% RAIA DROGASIL 18.69 ▲ 0.48% RDOR3 36.17 ▲ 0.33% HAPV3 11.06 ▼ 1.16% FLRY3 16.54 ▲ 0.79% SMTO3 15.63 ▼ 3.04% UGPA3 30.57 ▲ 1.53% VBBR3 33.46 ▲ 0.48% BBSE3 40.63 ▲ 0.59% BPAC11 57.46 ▼ 0.85% CURY3 33.37 ▼ 0.66% AERI3 2.04 ▼ 1.45% VIVARA 23.35 ▼ 0.34% COMPASS 25.10 ▼ 0.40% VAMOS 3.09 ▼ 1.90% SANB11 27.12 ▼ 0.80% ASAI3 8.80 ▲ 1.62% SBSP3 30.23 ▼ 0.36% WALMEX 50.00 ▲ 1.48% GMEXICO 200.36 ▲ 0.40% FEMSA 227.14 ▼ 0.95% CEMEX 22.75 ▲ 2.48% GFNORTE 185.19 ▼ 0.54% BIMBO 57.40 ▲ 1.85% TELEVISA 9.63 ▲ 1.05% AMX 22.81 ▼ 0.18% GAP 393.39 ▼ 0.47% ASUR 282.06 ▲ 2.34% OMA 237.59 ▲ 1.09% KOF 179.69 ▼ 0.11% GRUMA 279.74 ▲ 0.12% KIMBER 38.82 ▲ 0.99% SQM-B 66,292 ▼ 2.37% COPEC 6,230 ▲ 0.32% BSANTANDER 77.53 ▼ 1.41% FALABELLA 5,872 ▼ 0.05% ENELAM 85.60 ▼ 0.17% CENCOSUD 2,042 ▲ 0.10% CMPC 1,093 ▼ 0.91% BANCO CHILE 187.13 ▼ 1.25% LATAM AIR 25.01 ▲ 0.44% YPF 77,400 ▼ 0.48% GGAL 8,000 ▲ 1.14% PAMPA 5,195 ▼ 0.67% TXAR 665.00 ▲ 0.45% ALUAR 948.50 ▼ 0.05% TGS 9,790 ▲ 0.82% CEPU 2,326 ▼ 0.04% MIRGOR 16,475 ▼ 1.64% COME 45.42 ▼ 0.72% LOMA NEGRA 3,590 ▲ 1.63% BYMA 303.75 ▲ 0.91% TELECOM ARG 4,343 ▲ 0.23% ECOPETROL 15.99 ▼ 1.05% BANCOLOMBIA 81.79 ▼ 0.38% GRUPO AVAL 4.99 ▲ 0.71% CREDICORP 396.63 ▲ 1.12% SOUTHERN COPPER 179.35 ▼ 1.66% BUENAVENTURA 30.25 ▼ 2.51% MERCADOLIBRE 1,848 ▼ 1.38% NUBANK 14.04 ▲ 0.32% XP 17.04 ▲ 0.98% PAGSEGURO 9.27 ▼ 0.16% STONE 11.29 ▼ 0.13% GLOBANT 32.25 ▲ 4.29% TECNOGLASS 45.31 ▲ 2.44% GAP AIRPORT 226.74 ▲ 0.35% ASUR 282.06 ▲ 2.34% OMA AIRPORT 109.14 ▲ 1.39% AMX ADR 26.20 ▲ 0.08% FEMSA ADR 130.65 ▼ 1.89% CEMEX ADR 13.10 ▲ 2.34% PETROBRAS ADR 17.76 ▼ 0.89% VALE ADR 14.56 ▼ 0.21% ITAU ADR 8.54 ▼ 0.18% SANTANDER BR 5.38 ▼ 0.28% AMBEV ADR 3.06 ▼ 0.97% CSN 1.01 ▼ 1.94% GERDAU 4.67 ▲ 1.35% LATAM ADR 54.74 ▲ 2.30% BTC 65,351 ▲ 0.61% ETH 1,930 ▲ 2.14% SOL 78.00 ▲ 0.31% XRP 1.12 ▲ 1.11% BNB 580.95 ▼ 0.14% ADA 0.17 ▲ 0.29% DOGE 0.07 — 0.00% AVAX 6.69 ▼ 0.11% LINK 8.56 ▲ 2.65% DOT 0.86 ▲ 0.50% LTC 45.64 ▲ 0.45% BCH 233.97 ▼ 1.07% TRX 0.33 ▲ 0.44% XLM 0.19 ▲ 1.39% HBAR 0.07 ▲ 1.33% NEAR 2.07 ▲ 3.03% ATOM 1.57 ▲ 0.70% AAVE 96.88 ▼ 2.03% SELIC 14.25% EMBRAER 81.86 ▼ 0.76% EMBRAER ADR 64.51 ▼ 0.62% JBS 12.09 ▲ 2.16% JBS BDR 61.28 ▲ 2.56% MBRF3 15.59 ▼ 3.11% MBRFY 3.04 ▼ 3.18% INTER 5.65 ▼ 0.88% EGX 52,558 ▲ 0.50% USD/ZAR 16.32 ▼ 0.11% USD/NGN 1,379 ▼ 0.14% NIKKEI 68,752 ▲ 1.49% CSI300 4,787 ▼ 0.20% HSI 24,681 ▲ 1.40% NIFTY 24,079 ▲ 0.11% KOSPI 7,284 ▲ 6.24% JCI 6,042 ▲ 0.04% USD/JPY 162.10 ▼ 0.05% USD/CNY 6.7572 ▼ 0.08% DAX 24,999 ▼ 0.59% CAC 8,384 ▲ 0.20% FTSE 10,514 ▼ 0.15% MIB 52,413 ▼ 0.85% IBEX 19,279 ▼ 0.40% STOXX 642.69 ▲ 0.09% EUR/USD 1.1442 ▲ 0.15% GBP/USD 1.3486 ▲ 0.74% SPX 7,562 ▲ 0.25% DJI 52,688 ▲ 0.34% NDX 29,442 ▼ 0.49% RUT 2,983 ▲ 0.62% TSX 35,369 ▲ 0.14% VIX 16.23 ▼ 1.64% USD/CAD 1.4044 ▼ 0.12% US10Y 4.5610 ▼ 0.52%
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Brazil Politics - Brazil

Bolsonaro Favors Developing Parts of Amazon Forest, Even Selling its Oxygen

By · July 28, 2019 · 4 min read

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BRASÍLIA, BRAZIL – Noting that the Amazon forest is known for being the “lungs” of the world, Brazilian Economy Minister, Paulo Guedes, believes that Brazil should “charge” other countries for the oxygen they use. Guedes, while visiting Manaus on Thursday, July 25th, defended the concept that the country should create a world oxygen exchange in Manaus.

Brazil,Brazil's Economy Minister, Paulo Guedes, wants to create oxygen market for Amazon region,
Brazil’s economy minister, Paulo Guedes, wants to create an oxygen market for the Amazon region. (Photo by Ibama/Wikimedia CC)
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“We want to know if Americans recognize oxygen ownership. We produce oxygen for the world,” said the minister, while on a visit with Brazilian president Jair Bolsonaro. “We Brazilians are Americans’ natural partners, but we want to know if they recognize the oxygen ownership we produce,” he asked during a presentation on duty-free tariffs and trade in Manaus, the capital of Amazonas state.

“With intelligence, we can create wealth with the preservation of the Amazon. There are things here that no one else has,” he said. Guedes also argued that the lack of exploitation of resources is due to the lack of property rights.

President Bolsonaro also responded to concerns by European countries about the management of the natural wealth of the Amazon, by stating: “The President of France (Emmanuel Macron), Ms. (Angela) Merkel (chancellor of Germany) wanted me to come back here (after G20 meeting in June), and start to demarcate another thirty indigenous reserves, expanding environmental reserves. This is a crime.”

Brazil,President Jair Bolsonaro and Economy Minister, Paulo Guedes, speak in Manaus about Amazon Region
President Jair Bolsonaro and economy minister, Paulo Guedes, speak in Manaus about the Amazon Region. (Photo by Alan Santos/PR)

Bolsonaro added that he is seeking partnerships with developed nations, and in particular with the United States, for the exploration of Brazil’s Amazon territory.

In April, during a radio interview, Bolsonaro mentioned that during his March visit to the United States he had mentioned to U.S. president Donald Trump that he wanted the United States to take part in a joint development program.

“When I met Trump, I told him, among other things, that I wanted to open the Amazon to be explored in a partnership (Brazil/U.S.),” Bolsonaro said during the interview.

In addition to “selling” oxygen to the rest of the world, Brazil’s federal government promises to finish paving BR-319, a highway which cuts through the Amazon forest, linking Manaus and the neighboring state of Rondonia to the rest of the country.

Inaugurated in 1976 only to be abandoned by federal governments in the 1980s and 1990s, BR-319 has been the subject of controversy due to its poor condition, with many parts closed to traffic, especially during the rainy season. After decades of abandon and millions of dollars spent on clearing land, many stretches of the highway have been invaded by grass and shrubs.

During his 2018 presidential campaign, Bolsonaro took a pro-agriculture and economic development stance for the region and has often criticized interference by foreign governments and international non-governmental organizations.

“The Amazon is ours, not yours,” Bolsonaro said earlier this month to a group of foreign journalists. “You (foreign countries) want to treat Indians as prehistoric beings, and there are Indians who want to work, to produce,” he argued.

Among his campaign promises was stopping new demarcation of indigenous lands, reducing the power of environmental agencies and allowing mining and commercial farming on indigenous reservations.

“More than 15 percent of the country’s territory has been set aside as indigenous land and quilombos (settlements inhabited by descendants of Brazilian slaves). Less than a million people live in these places, isolated from the real Brazil, exploited and manipulated by NGOs. Together we will integrate these citizens,” he said days after taking office in January.

This position has led to widespread criticism among environmentalists and human rights groups, as well as former environmental government officials. In May, eight former environment ministers issued a joint statement warning that too much development and the weakening of environmental laws could lead to disaster.

Brazil,Former Brazilian Environment Ministers criticize the Bolsonaro Administration's stance on the environment
Former Brazilian environment ministers criticize the Bolsonaro administration’s stance on the environment. (Photo by Marcos Santos/USP Imagens)

“Brazil has come a long way to consolidate its environmental governance. We have become a global leader in combating climate change, humanity’s greatest challenge this century. We are also one of the mega-biodiverse countries on the planet, which brings us enormous responsibility for the conservation of all our biomes. There is no development without the protection of the environment,” read the statement.

“We all have our political, ideological, priority differences, but none of us (former ministers) ever dared in our administration to dismantle ICMBio, Ibama, propose the extinction of parks or even the revision of indigenous lands already demarcated and approved,” said former minister Carlos Minc, who led the Environment Ministry during former president Luiz Inácio Lula da Silva’s second term in office. “If I had a word to classify this new administration, I would say the word is unsustainable,” he concluded.

With the Bolsonaro government struggling to boost Brazil’s ailing economy, the region may become increasingly attractive to the federal government as a source of revenue. Noting that the Amazon region is the “richest on planet earth”, Bolsonaro states what has become growing belief within his administration: “By joining development with environmental preservation, the region will be the economic soul of Brazil.”

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