WSJ: Obama Underwrites Offshore Drilling
Too bad it's not in U.S. waters.DOT #2:
You read that headline correctly. Unfortunately, the Obama Administration is financing oil exploration off Brazil.
The U.S. is going to lend billions of dollars to Brazil's state-owned oil company, Petrobras, to finance exploration of the huge offshore discovery in Brazil's Tupi oil field in the Santos Basin near Rio de Janeiro. Brazil's planning minister confirmed that White House National Security Adviser James Jones met this month with Brazilian officials to talk about the loan.
The U.S. Export-Import Bank tells us it has issued a "preliminary commitment" letter to Petrobras in the amount of $2 billion and has discussed with Brazil the possibility of increasing that amount. Ex-Im Bank says it has not decided whether the money will come in the form of a direct loan or loan guarantees. Either way, this corporate foreign aid may strike some readers as odd, given that the U.S. Treasury seems desperate for cash and Petrobras is one of the largest corporations in the Americas.
Aug. 15 Billionaire investor George Soros bought an $811 million stake in Petroleo Brasileiro SA in the second quarter, making the Brazilian state-controlled oil company his investment fund's largest holding.DOT #3:
As of June 30, the stake in Petrobras, as the Rio de Janeiro-based oil producer is known, made up 22 percent of the $3.68 billion of stocks and American depositary receipts held by Soros Fund Management LLC, according to a filing with the U.S. Securities and Exchange Commission. Petrobras has since slumped 28 percent.
CONNECTING THE DOTS:Posted by Jim Hoft on Sunday, June 13, 2010, 6:39 AM
Barack Obama’s oil drilling moratorium will cost tens of thousands of American jobs.
But, not everyone will suffer.
Oil companies are planning on moving their rigs from the Gulf of Mexico to South America off the coast of Brazil where the government is more friendly to energy corporations.
Reuters reported, via Free Republic:
Brazil could benefit from the BP Gulf of Mexico spill as a U.S. moratorium on offshore drilling boosts available rigs for the country’s deep water oil exploration program.
Even as an ecological catastrophe makes the future of U.S. offshore drilling less certain, Brazil is plowing ahead with a $220 billion five-year plan to tap oil fields even deeper than BP’s (BP.L) ill-fated Gulf well, which is still leaking crude.
With an estimated 35 rigs idled in the Gulf of Mexico, Brazil is already receiving inquiries from companies looking to move their rigs here, where vast discoveries in recent years may soon turn the country into a major crude exporter.
- OBAMA IS HELPING ANOTHER PART OF HIS MACHINE - GEORGE SOROS.
- OBAMA IS HELPING A THIRD WORLD PRO-IRANIAN NATION (BRAZIL) - DIRECTLY WITH AID/LOANS AND INDIRECTLY BY SHUTTING DOWN DRILLING IN TH GULF.
- OBAMA IS CLOWARD-PIVENING THE SOUTH - WHICH VOTES GOP.
THAT OBAMA IS ACTIVELY HELPING OUR FOES AND HURTING THE USA IS THE SIMPLEST EXPLANATION FOR THESE ACTIONS, THESE DOTS. IT PASSES OCCAM'S RAZOR.
ONE MUST CONCLUDE THAT OBAMA IS A CLEAR AND PRESENT DANGER TO OUR ECONOMY AND PROBABLY SHOULD REGISTER - ALONG WITH SOROS - AS A FOREIGN AGENT!
WE CAN FIX THIS IN NOVEMBER: VOTE GOP!