Lula’s win in Brazil presidential race likely means return to state-led economy

The return of Luiz Inacio Lula da Silva as Brazil’s president will likely usher in greater government involvement in development of the country’s oil and natural gas resources and a larger role for state-led Petrobras in leading the country’s energy transition. The victory by the leftist Lula and his Workers’ Party, or PT, is expected to return Brazil to the…