U.S. Loan to Brazilian Oil Company Riles Conservatives in Favor of Offshore Drilling
Some see a contradiction in an executive-branch agency facilitating abroad the very kind of energy exploration President Obama opposes domestically.
President Obama has opposed any expanded oil drilling off American shores largely on environmental grounds, turning a deaf ear to conservative cries of "Drill, Baby, Drill."
But now Obama may start hearing cries of "foul" after the U.S. Export-Import Bank promised Petrobras, Brazil's state-owned oil company, $2 billion in loan guarantees to help finance lucrative drilling off the shores of Rio De Janeiro.
Some see a contradiction in an executive branch agency, independent but with board members appointed by the president, facilitating abroad the very kind of energy exploration Obama opposes domestically.
White House spokesman Robert Gibbs said Thursday he wasn't prepared to address the issue.
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16 comments:
Just goes to show that both political parties are controlled by corporate interests.
We need to stop this BS of arguing with each other over one or another political parties. Our government is broken.
The power elite in Washington / New York have managed to divide and conquer. We need to become more intelligent about issues.
Gibbs is a babbling fool, hes with the right bunch.
We need a catalist, something to open the door to tommorow.
anonymous 11:23, yeah, while you PLUG IN your car.
We have more capped wells in the United States than anywhere in the world. If we need it, believe me, we have it.
Thats not what I meant.
Don't you guys get it? Our policy is to use everybody else's oil while it's cheap to extract and abundant. We buy oil at $100/bbl now and cry. But when we have oil while the rest of the world is dry, and we sell ours at $225/bbl down the road we'll be kings of the world. Or at least the oil barrens will.
So we borrow money from China so we can loan it to another country?
Export-Import bank receives no appropriations from Congress and thus does not rely on American taxpayer dollars and is also not "sending" $2 billion to the Brazilian company but offering lines of credit to U.S. firms so they can compete to land contracts as part of Petrobras' drilling operations.
The $2 billion "preliminary commitment" by the Export-Import Bank to Petrobras is expected to grow, as the U.S. competes on behalf of American exporters of goods and services against those from China. Beijing has extended a commitment of $10 billion -- but the Brazilians are said to prefer U.S. management and technology.
Read the whole thing next time
read the whole thing?? it is what you don't read that is important. did anyone realize who just bought a huge stake in this brazilian oil company?? none other than george souros. look it up for those who think i am one of those nut jobs
You know whats interesting is that "Petrbras" comprises 22% of George Soros stock portfolio. I agree. This may be Obama's Haliburton. This may very well show the world that as Obama pays Soros back for his "help" in the last election, he is just as crooked and self sevring as any other politician running our country into the ground
More double speak bait and switch Obama politics.
The Bank’s bipartisan Board unanimously approved the preliminary commitment to Petrobras on April 14, 2009, before any Obama appointees joined the Bank," says the fact sheet.
You are beginning to see it. Obama, Bush, Cheney are actors. They have done a decent job. The Americans are now asleep. When they awaken, Michael Vick will be important again, along with some murder in smallstown america. We care.
petraebus is much worse than haliburton. it's NOT American.
haliburton took jobs in iraq because no other company bid against them.
how to give away 2 BILLION when the 3 billion for the clunkers can't be found.
STOP SPENDING, no matter who it helps. we need to help us.
haliburton took jobs in iraq because no other company bid against them.
No other companies were ALLOWED to bid against them.
B.S. 9:42
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