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Brazil eyes ethanol boom after US president's speech

This article was originally published in The Public Ledger

BRAZILIAN ethanol producers have welcomed US president George W. Bush's aim to cut his country's petrol use by 20% over a decade as a fantastic business opportunity. "We've never had such a great opportunity to substitute petroleum," said Luiz Carlos Correa Carvalho, director of Canaplan consultancy at Piracicaba in Brazil's main sugarcane growing state of Sao Paulo. He added that Mr Bush's speech on Tuesday was an invitation to countries such as Brazil to participate in global efforts to cut greenhouse gas emissions and reduce global warming.

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