Wednesday, August 19, 2009

$2 Billion Loan for Oil Exploration


The Wall Street Journal has reported that the Obama administration is poised to spend $2 billion of OUR money for oil exploration and drilling...off the coast of Brazil. Wonderful, ain't it? Nothing like using our money to possibly create another Hugo Chavez.

We're going to lend Brazil's largest state-owned oil company, Petrobras, money for exploration of a huge offshore discovery in the country's Tupi oil field in the Santos Basin near Rio de Janeiro. White House National Security Adviser James Jones met this month with Brazilian officials to talk about the loan.

The U.S. Export-Import Bank has given Petrobras a "preliminary commitment" of two billion of our hard-earned dollars, and that figure could go even higher. It's not clear whether it will be a direct loan or a loan guarantee, but, either way, if Petrobras defaults, guess who's stuck eating the loss? Hint: It's not Brazil. And to do this at a time when the U.S. Treasury can't pay our own bills is beyond me.

If Dear Leader is so gung ho on drilling, why not do it here? After all, the ban on offshore drilling in this country was allowed to expire to allow the market to go after our own reserves and reduce our dependence on those countries who want us dead. Instead, Chairman Barry has decided to sell oil leases to other countries and allow THEM to drill for OUR oil. The sale of those leases starts today. I've been busy, so tell me: Did the MSM cover any of this? I bet not.

I'm assuming part of the reason BHO is funding Brazil's exploration but not our own is due to the wailing and gnashing of teeth from groups like the Sierra Club and Earth First. After all, they DID help him get elected. How are they going to react when they realize he's funding global warming and CO2 emissions? Oops...it's okay for other countries to do it so long as the evil corporate giants here at home don't benefit. Bunch of screwballs!!!

The question of what Barry's stake in all of this is remains a mystery to me. I mean, c'mon...he doesn't do ANYTHING without strings attached. Is it political pandering once again to apologize for just how rotten this country is? Maybe he's planning on visiting Rio during Carnival on our dime. What ever the case, we should be telling the environmental crowd to shove it and open up OUR reserves to exploration. The rest of the world can get their own frickin' oil.

Bit by bit, this president is selling this country's sovereignty to foreign lands. Why does the word "treason" come to mind???

6 comments:

Teresa said...

Good Morning :)
Great article and Thanks for info.
It is so disturbing that Obama is not supporting Americans finding oil off our coast. I guess that's where the jobs went. Jobs went right into the deep, blue sea in a foreign country, instead of promoting job growth within The U.S. Barry always has a motive and usually a "fishy" one.

Conservative Scalawag said...

Great, just great.

blackandgoldfan said...

Teresa: Good morning, hon! Taking the kids to training camp today!!! I think I'm more excited than they are. My mom wants me to run my fingers through Troy's hair for her. lol

I get the feeling that somewhere along the line, Barry is getting something out of this. I just don't know what. You're right his motives are "fishy." (*groan*; good one)

Let's not forget, either, that starting today countries like China and North Korea will be erecting rigs right off OUR coast and taking OUR oil. The sale of leases will come down to the highest bidder.

blackandgoldfan said...

Con Scal: I feel your pain, dude.

WomanHonorThyself said...

g'mornin girl.the link now works..hooray..u can get more readers..!..great find hun and yes TREASON does come to mind!!!!!!!!!!!!

blackandgoldfan said...

Morning sunshine! Thanks for looking out for me. Lord knows I need looking out for!

Could you imagine what the Founders would do to BHO if he pulled half the crap he does if they were alive???