Bolsonaro's Fossil Fuel Focus Threatens Brazil's Energy Transition
Brazil, the ninth largest economy and a significant energy power, faces uncertainty under new President Jair Bolsonaro's energy and environmental policies. Bolsonaro, who took office in 2019, has signaled a shift towards fossil fuels and reduced environmental protections, potentially halting the country's energy transition.
Brazil, a major player in global energy, is the ninth largest oil producer and second in biofuels and hydropower. It also ranks eighth in wind power installed capacity. Under Bolsonaro, the government could reverse the energy transition by eliminating subsidies and incentives for renewable energies, potentially leading the country back to a fossil fuel path.
Hydropower, Brazil's main energy source, accounts for 63.7% of electricity generated. The government owns half of major electric utilities like Electrobras and oil company Petrobras. Despite this, renewable energy sources make up 81.9% of Brazil's installed capacity for electricity generation, indicating a significant shift towards cleaner energy. However, Bolsonaro's plans to lower taxes on fossil fuels and speed up environmental licensing processes raise concerns about the future of these initiatives.
Bolsonaro's government has proposed changes that could impact Brazil's energy landscape significantly. The future of state-owned companies like Electrobras and Petrobras hangs in the balance. While Brazil has seen substantial growth in wind and solar power in recent years, the new administration's policies could either accelerate or hinder this progress, shaping the country's energy path for decades to come.
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