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Made in Brazil

PRESIDENT Luiz Inácio Lula da Silva has put four laws before Congress that will give Petrobras a controlling position in Brazil's coveted pre-salt acreage and significantly reduce the private-sector's role. Some politicians and media commentators have criticised the proposed legislative changes, likening them to the counter-productive form of resource nationalism that has occurred in some parts of the world. But this is a simplistic view. There's good resource nationalism and bad. The bad type deprives its country of practical economic or technological solutions for developing its resources (Venezuela, for example). And it sets down a political marker that makes companies wary of future inv

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