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Jair Bolsonaro Brazilian President Jair Bolsonaro declared “war” on government oil company Petrobras during a live broadcast online on Thursday evening over what he called “absurd” profits that were tantamount to the “rape” of the Brazilian people.
Petrobras is a mostly government-owned oil company with some private shareholders. Out of respect for the latter, Bolsonaro, a conservative, said he would not directly intervene to lower gasoline prices, but warned that Brazil would “break” as a country if the company did not lower prices and accept slightly lower profit margins in the interest of the greater good.
English-language outlets covering Bolsonaro’s comments noted that he is running for reelection this year against socialist ex-president Luiz Inácio Lula da Silva this year, who used his power to force Petrobras to lower prices (and was convicted on charges related to a sprawling corruption scandal in which Petrobras was a main actor). Bolsonaro has been feuding with the oil company for much of the past year regarding fuel prices, however, and fired its CEO in March.
“People are pleading with Petrobras, don’t readjust the price of gasoline. You are raking in absurd profits,” Bolsonaro said during the online broadcast on Thursday. “She [Petrobras] should have a social function. Petrobras, we are at war. Petrobras, don’t increase the price of gasoline. Your profits are a rape, are an absurdity.” “Many oil companies around the world have reduced their prices, lowered the profit margins of their companies. What for? To help their country not break,” Bolsonaro continued. “Brazil, if it has one more price increase, it can break. And Petrobras staff don’t understand, or don’t want to understand, or are just looking to make a profit.”
“I appeal to Petrobras, because I have no way of interfering – look at the abusive profits you have. It is so true […]
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