The world lives a context of energetic pre-crisis, and Brazil has discovered new
big reserves of the “black goldâ€, which led to changing the regulation framework of its
exploitation in the country. This paper focuses in analysis, from last years, the
changes in oil production and tries to evaluate its effects in growth of production and
its links to the rest of Brazilian economy. Using data derived from the I-O matrix in the
supply side, and Balance of Payments data, we try to see if there were meaningful
changes in the period 1998-2007 from the period 1990-1997 in terms of the oil sector
linkage to the rest of the economy, technological modernization, its relation to
employment and average earnings, and its impacts in the external insertion of the
country (exports and dividends balance).
