Barack Obama: Drill There, Drill Now

In yet another asinine move, and they are coming almost daily from Barack Obama and his fifty czars, we are now going to assist Brazil to drill offshore for oil. Two friggin’ billion dollars of assistance!

But what about the environment you may ask?  The environment can go swim with the fishes as far as the socialist power mongers intent on destroying America are concerned!

Drill There, Si!  Drill Here, No!

Brazil-Petrobras NoOilDrilling

From the Wall Street Journal:

Obama to underwrite off-shore 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.

after all, we can’t let Brazil suffer from the vagaries of OPEC controlled oil price manipulations now can we?

Oh, and Brazil has a socialist in charge now too!  Birds of a feather and all…

Hat Tip:  This Ain’t Hell

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4 Responses to Barack Obama: Drill There, Drill Now

  1. James says:

    if you spent $30 MILLION a day every single day for 2000 years it would still not equal to obama’s $23.7 TRILLLION in financial bailouts

    … the main reasons why people get poorer are because of higher taxes and inflation.

  2. SassySuz says:

    The largest shareholder in this company is none other than George Soros

  3. The most comprehensive info I have found on this subject on the net. Will be back soon to follow up.

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