|Image from flickr|
When President of America, Barack Obama arrived in Brazil, continuing the war in Libya, Brazil was considering proposing an idea to name the city Rio de Janeiro as World heritage Site in UNESCO. While the west ignored the new emerging countries, Brazil, India and China were growing with a big boom.
Today Brazil has come all by itself to this position that US President is forced to look again after his policies. Obama arrived in Brazil to press a "reset button" in their relationship with Brazil just how he did with Russia (U.S and Russia, undoing the 'cold war effect')
"What is clear is that in an increasingly global economy, our partnership with these nations is only going to become more vital," US President, Obama said on Saturday in a radio.
Though there is less expectation among Brazilians of any big political changes, the current visit is more focussed on business. There are less chances of talks about Brazil's permanent membership in UNSC.
As the position of US in terms of popularity is going down in oil rich middle east and Venezuela, Brazil's newly discovered oil reserves is the thing which has made US to look southwards. The reserves are estimated between 30 billion to 80 billion barrels. If the estimation is true, which is most likely, Brazil will be counted among top 10 countries in the world in terms of reserve quantity.
Brazil which is already independent in energy production and consumption has considers new oil reserves as a good source of revenue through exporting.
Discovery of oil reserves so close to US has no doubt brought smiles in white house, but it couldn't stay for long as China has replaced US as Brazil's top trading partner in the year 2010, while Argentina, South Korea and Germany also reserving their shares. While China has already reserved 200,000 barrels of oil a day for a decade1, US doesnt want to be too late to miss any deal.