How the Hydro-Mafia Got Back Into Belo Monte

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“>irresponsibly used public pensions as subsidies and committed to absorbing the lion’s share of the risk, including, most recently, now utilizing the Brazilian Treasury as an additional guarantor in case the companies of Norte Energia or any other investor can’t make their payments. There is no clearer signal that this project is doomed to lose money.

The three companies have a fever to build the Belo Monte Dam Complex like no other. Yet, make no mistake; with these companies’ zeal come skyrocketing costs.  And given the hydro-mafia’s record, expect these to be borne by the people and the species of the Xingu.