Tuesday, June 29, 2010

Obama Loans 2 Billion of tax payer dollars to Brazilian Oil

Obama Loans 2 billion of tax payer dollars to Brazilian Oil

Today on a segment of the "Glen Beck Show" on FOX (Fox Cable News) was the following:

Today, even though President Obama is against off shore drilling for our country, he signed an executive order to loan 2 Billion of our taxpayers dollars to 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"..

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.

If you are able to connect the dots and follow the money, you are probably as upset as I am. Not a word of this transaction was broadcast on any of the other news networks!

Forward this factual e-mail to others who care about this country and where it is going. Also, let all of your Government representatives know how you feel about this. November is getting closer and closer .

Below is the Wall street Journal article to confirm this.

Obama Underwrites Offshore Drilling

Too bad it's not in U.S. waters. 6-29-10

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.


Anonymous said...

Can you provide the EO number?

Brett said...

I don't know. Can you provide your name, or are you just a person who doesn't really exist?

Brett said...

Quote of the Century

This quote came from the Czech Republic.

"The danger to America is not Barack Obama but a citizenry capable entrusting a man like him with the Presidency. It will be far easier to limit and undo the follies of an Obama presidency than to restore the necessary common sense and good judgment to a depraved electorate willing to have such a man for their president. The problem is much deeper and far more serious than Mr. Obama, who is a mere symptom of what ails America . Blaming the prince of the fools should not blind anyone to the vast confederacy of fools that made him their prince. The Republic can survive a Barack Obama, who is, after all, merely a fool. It is less likely to survive a multitude of fools such as those who made him their president."

Look at what television shows get the highest ratings and you'll see the intelligence level of the average American. Television has been 'dumbing down' Americans for well over fifty years. And if the illegal immigrants get the right to vote, the country will cease to exist.

I apologize - I don't have an EO # for this one either, but it's probably talking about you.