The main problem with Petrobras - which I do own - is that it trades at quite an inflated PE relative to most oil companies.

My strategy is shifting toward sinking money into countries like Brazil, where petrodollars are flowing.

Well, that's quite the comfort. I'm just a college student with some money stashed away and was considering using my knowledge of Peak Oil to do something practical (buying a farmhouse is not a option)with that knowledge. I don't have the cash to invest big "on brazil", so I've picked up a couple of companies that I think will do good (Petrobras and Vale, the mining company). Any other recommendation on investing "on Brazil"? Government bonds? Other companies?

There's a "Brazil ETF" (sorry don't know the ticker...)

I reckon Clean Energy Brazil are also a good punt...

Nick.