'Where's the money going?': why Brazilian towns awash with royalties from oil are still among the poorest

Since the first big finds in the 1940s, Brazil's politicians have vowed all of its people would benefit. But in some oil towns, one in four people still live below the poverty lineThough 60 miles (100km) apart, the Brazilian municipalities of Presidente Kennedy in Espírito Santo state and Campos dos Goytacazes in Rio de Janeiro state have one big thing in common: oil. Since late in the last century, their public funds have been bolstered by billions in royalties from oil finds in the offshore Campos Basin.Yet despite having significantly more resources than other towns and cities in Brazil, both still face problems such as poor sanitation and healthcare, inadequate social housing and state education as well as corruption scandals. Continue reading...