LONG STOCK, SHORT FOREST
Amazon shares at up 20%, Ytd, nearing their all time highs. This success cannot for its namesake the Amazon rainforest. Despite recent Brazilian efforts to ban deforestation and encourage protection, the Brazilian care of the Amazon has attracted widespread criticism, from almost all developed countries. In fact, their domestic space
agency reported over 3,500 new fire outbreaks in the proceeding 48 hours of legislation being passed.
Whilst the current oxygen capturing capacity of the Amazon is often quoted as 20% of the world, this is not the case with the figure closer to 6%. However, the forest contains 200 metric tons of already captured carbon, and is home to 10% of the total number of species. Fortunately, President’s Bolsonaro’s contribution to saving the rainforest came in him declaring it ‘Brazil Week’ in order to cushion his plummeting rating and improve his international standing. Whilst this might appear meaningless, it pretty much is.
'It's enough to eat a little less. You talk about environmental pollution. It's enough to poop every other day. That will be better for the whole world.’
-Jair Bolsonaro on the environment, August 10th, 2019.