The presidents of the US and Brazil on Friday signed a
memorandum stating cooperation in the development of biofuel
technology in three different levels.
In the agreement, US President George W. Bush and Brazilian
President Luiz Inacio Lula de Silva committed to reducing their
countries dependence on the use of petroleum and other
non-renewable fossil fuels.
The document stated clearly that opportunities should be created
in order to provide other countries in the world with access to
biofuel technologies.
According to President Lula, the agreement inaugurated a path
that leads to true democratization of energy in the world.
In his speech, President Bush said that he was satisfied with
the negotiations that led to the memorandum. He added that some
time ago it was impossible to think of an American president coming
to Brazil to discuss energy.
Bush stressed that dependence on petroleum was a question of
national security to a country like the US, which has to import it
from other regions.
(Xinhua News Agency March 10, 2007)
