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Originally Posted by JSH
That could be based on the 2008 financial crisis
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That was the official claim from the government at that time.
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Brazil wouldn't have wanted to pay to upgrade their refineries to make ultra-low sulfur diesel nor pay to import it from other countries.
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The so-called Premium refineries meant to be built in Ceará and Maranhão were never finished, basically due to widespread corruption at Petrobras under some former governments.