The Rising Influence of Rising Affluence

[DewDiligence]

PBR blurb from WSJ:

http://online.wsj.com/article/SB10001424052970203315804577211553456517484.html

Petrobras ranks fifth in production globally among listed oil and gas producers but trumps them hugely on spending. Yet the company's return on equity lies at the other extreme—by far the worst of the six biggest Western oil majors. That isn't likely to improve soon. Credit Suisse expects capital investments by Petrobras to achieve returns merely in line with its cost of capital, putting it on the cusp of destroying shareholder value.

I don’t disagree (#msg-51214642).