They're just too stupid or arrogant to see it. Yet. Day rates will double down there. No sane company will run the risk of drilling for those lunatics without a huge premium. Excellent work Brazil; you've proven you're still a 3rd world septic tank country.
Like politicians everywhere (see Obama, current EPA), they don't care. It's not about the long-term or the country's welfare, it's about their position and power and influence. If they can order the stoppage of drillling and production and shake down Chev and RIG for millions or billions, they can grandstand to the electorate what a great job they've done against the big greedy Yankee oil companies. Isn't their current president some former Marxist guerilla?
So true.......take a look at Jan '14 calls.........maybe 55's (I bought more today)..........if this injunction holds up and those rigs leave..........it will be proof beyond doubt that the the stock market must be treated as "uninvestible" from this point forward..........dig a hole and crawl in...........but not an oil well!!