Lurking in the shadows of the current Florida Property Tax issues, Florida Governor Charlie Crist (R) has been traveling with several key Florida Legislators through South America working different trade agreements. The most lucrative of which would have created an enormous trade agreement with Brazil to import Ethanol into the United States.
Florida would serve as the National Headquarters for this effort potentially bringing billions in profits to the state to help fill our tax coffers when they are depleted from property tax cuts. Unfortunately, the deal with Petrobras seems to be on the back burner -- indefinitely.
According to an article on Tallahassee.com, the issue at hand for Governor Crist is that Petrobras (NYSE stock symbol PBR) has confirmed business links to Iran. That linkage violates the spirit of a bill he signed in June that forbids the state from investing its $140 billion pension fund in companies that do business with Iran.
This is a big disappointment considering the benefit it would have for the Florida Economy as well as the National effort to "Go Green". This also shows that the US needs to consider its many options for producing its own Ethanol and other Bio-fuels domestically to reduce the US dependence on Foreign Fuels.
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