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Kurr
1000+ Penny Miser Member
2906 Posts |
 Posted - 06/30/2010 : 12:23:32
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Obama Underwrites Offshore Drilling
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.
But look on the bright side. If President Obama has embraced offshore drilling in Brazil, why not in the old U.S.A.? The land of the sorta free and the home of the heavily indebted has enormous offshore oil deposits, and last year ahead of the November elections, with gasoline at $4 a gallon, Congress let a ban on offshore drilling expire.
The Bush Administration's five-year plan (2007-2012) to open the outer continental shelf to oil exploration included new lease sales in the Gulf of Mexico. But in 2007 environmentalists went to court to block drilling in Alaska and in April a federal court ruled in their favor. In May, Interior Secretary Ken Salazar said his department was unsure whether that ruling applied only to Alaska or all offshore drilling. So it asked an appeals court for clarification. Late last month the court said the earlier decision applied only to Alaska, opening the way for the sale of leases in the Gulf. Mr. Salazar now says the sales will go forward on August 19.
This is progress, however slow. But it still doesn't allow the U.S. to explore in Alaska or along the East and West Coasts, which could be our equivalent of the Tupi oil fields, which are set to make Brazil a leading oil exporter. Americans are right to wonder why Mr. Obama is underwriting in Brazil what he won't allow at home.
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Mike Rivero's comments:
Obama shuts down our oil and caps our production -- and now signs exec order for US loan of $2 billion for offshore drilling in Brazil in operation that will supply China exclusively
U.S. Export-Import Bank tells us it has issued a "preliminary
commitment" letter
Obama executive order to underwrite offshore drilling to the tune of $2 billion ... in Brazil . (Have we seen that kind of money in the Gulf?)
President Obama is stopping off shore drilling for our country, yet he has now signed an executive order to loan 2 Billion of our taxpayers dollars underwriting a Brazilian Oil Exploration Company (which is the 8th largest company in the entire world) to drill for oil off the coast of Brazil ! The oil that comes from this operation is for the sole purpose and use of China and NOT THE USA ! Now here's the real clincher...the Chinese government is under contract to purchase all the oil that this oil field will produce, which is hundreds of millions of barrels of oil"..
And that is how a slave president of a slave country works off the
debt of its debt slavery. Yet this debt payment does not show up on the books -- it does not pay down our debt.
We have absolutely no gain from this transaction whatsoever!
Wait, it gets more interesting.
Guess who is the largest individual stockholder of this Brazilian Oil Company and who would benefit most from this? It is American
BILLIONAIRE, George Soros, who was one of President Obama's most
generous financial supporter during his campaign.
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The silver [is] mine, and the gold [is] mine, saith the LORD of hosts. Hag 2:8 [/b]
He created it. He controls it. He gave it to us for His use. Why did we turn from sound scriptural currency that PROTECTS us?
KJV Bible w/ Strong's Concordance: http://www.blueletterbible.org/
The book of The Hundreds: http://www.land.netonecom.net/tlp/ref/boh/bookOfTheHundreds_v4.1.pdf
The Two Republics: http://www.whitehorsemedia.com/docs/THE_TWO_REPUBLICS.pdf
Good reading: http://ecclesia.org/truth/government.html
A number of people are educated beyond, sometimes way beyond, their intelligence. - Tenbears
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Obama Underwrites Offshore Drilling
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