Obama Underwrites Offshore Drilling

[cbhope1030]

The U.S. is going to lend billions of dollars to Brazil's state-owned oil company.... more at link

http://online.wsj.com/article/SB10001424052970203863204574346610120524166.html

But yet we cannot drill offshore here? :sneaky:

[Carol25]

So we are going to help Brazil be major oil exporters when we could have as much oil as they do!

Does this make sense? Absolutely not!

When we could employ so many more by be exporters of oil and owning our own gas,which would lessen the cost of the pump, there's just no justification for this.

[IaNsSyAlNuE]

Again look overseas for oil supply in some misplaced sense of environmental protection of our coastlines to destroy anothers. :rolleyes:


A little info on the company Obama is lending TWO BILLION dollar to according to the article:

Petrobras

Petrobras controls significant oil and energy assets in 18 countries in Africa, North America, South America, Europe and Asia. These holdings as well as properties in Brazil give it total assets of $133.5 billion.

Petrobras is Latin America's largest company, thanks to 2008 sales of $118.3 billion, according to a ranking from Latin Business Chronicle over Latin America's Top 500 Companies.

http://en.wikipedia.org/wiki/Petrobras

And the US needs to lend this company 2 billion for what reason exactly?

[IaNsSyAlNuE]

The more I think about this the more I become suspect. Why? One of Obama’s biggest taking points was Oil exploration and how it should be stopped because of our and I quote "addiction to oil and its killing the EARTH'.

However it’s okay to kill the earth if Brazil does it off of its shores and not the US? And what of Cap and trade? Wasn’t that supposed to LIMIT the production of fossil fuels and now we are lending BILLIONS TO Brazil TO DO WHAT Obama said we should not!?!?! Drill offshore?

We are in the middle of a great recession and we are lending out Treasury Dollars to Brazil when American oil producers would NEED no loans to do the same off of our shores? Doesn’t the treasury make money off of the leases anyway? This would create tax revenue and thousands of thousands of jobs!!


I just don't get it...

[IaNsSyAlNuE]

I am starting to read some rather disturbing information about Petrobras and Obama backer George Soros selling stock in Petrobras and re-buying for stock option profits that this deal will afford him as well. Very strange!


Soros bought 5.8 million of the company’s U.S.-traded preferred shares.

http://www.bloomberg.com/apps/news?pid=20601087&sid=a.V5sgGzdsQY

[IaNsSyAlNuE]

I found this article:



Thanks to Obama’s bold leadership, America will continue to depend on sources of energy we don’t control, while pumping money into the economy of another country and creating jobs for non-Americans. In addition, he’ll line the pockets of one of his biggest supporters with billions of taxpayer dollars.

So, rejoice America! Obama finally supports off-shore drilling.


( emphasis added)

http://www.examiner.com/x-7507-Frisco-Conservative-Examiner~y2009m8d19-Obama-finally-supports-offshore-drilling

[ABC]

The U.S. is going to lend billions of dollars to Brazil's state-owned oil company.... more at link

http://online.wsj.com/article/SB10001424052970203863204574346610120524166.html

But yet we cannot drill offshore here? :sneaky:
Or set up extracting Shade Oil from the Sands of Colorado and Wyoming, which contains more oil then the entire Middle East. Lets get energy independent and pay Americans to do the job. This makes no sense when we should be lessening our dependence on foreign oil. Why did Boone and the Windmills go? Hope all that horse and buggy technology is sitting on Boone's front lawn. :scared:

[CANDYKISSES]

President Obama has just stated that we could use a little less foreign oil:huh: and do better during his healthcare pep rally. JMO

I hope he doesn't get charged for saying "Thank you everybody. God Bless you!" - President Obama closing the pep rally. :thumbup: JMO

[Great Dane]

He has officially lost his mind....:laugh:

[History Buff]

I didn't know that he had one to start with.

[SeeksJustice]

Yeah...it's pretty funny to say that Obama has lost his mind and all, but, if you did a bit of research, you would understand the US's reasoning to all of this.

Aside from the fact that the ban to drill off of Alaska has been upheld, we are now able to drill elsewhere...not directly off the eastern or western coasts.

The US is trying to get it's foot-in-the-door, so to speak, on access to oil that is NOT directly related to our country's coasts. Why you ask? CHINA is the reason why. China has TONS of cash right now and is able to snatch up the drilling areas around the world and hence create a tremendous stock pile of oil.

Take a gander.....

China: The new Big Oil

The country is snapping up oil fields from Africa to South America to the Middle East. Soon it may be able to rival the Western giants.

http://money.cnn.com/2009/08/17/news/international/china_oil/?postversion=2009081704

BTW...this article is from August 17th.


Perhaps he is not so crazy after all.....:rolleyes:

[IaNsSyAlNuE]

Yeah...it's pretty funny to say that Obama has lost his mind and all, but, if you did a bit of research, you would understand the US's reasoning to all of this.

Aside from the fact that the ban to drill off of Alaska has been upheld, we are now able to drill elsewhere...not directly off the eastern or western coasts.

The US is trying to get it's foot-in-the-door, so to speak, on access to oil that is NOT directly related to our country's coasts. Why you ask? CHINA is the reason why. China has TONS of cash right now and is able to snatch up the drilling areas around the world and hence create a tremendous stock pile of oil.

Take a gander.....

China: The new Big Oil

The country is snapping up oil fields from Africa to South America to the Middle East. Soon it may be able to rival the Western giants.

http://money.cnn.com/2009/08/17/news/international/china_oil/?postversion=2009081704

BTW...this article is from August 17th.


Perhaps he is not so crazy after all.....:rolleyes:




So China the reason the US can't drill off of its coasts and the reason we need to rely on a foreign power for oil?? China is the reason for "global warming" ( the reason BO gave for no offshore drilling) and our "addiction' to oil and the reason we will not harm our coast line. However we will LOAN money to another country to do the same creating jobs and money for them while we empty our coffers to loan a company with billion dollar profits each year---loan them billions more?


Obama vows to protect coastline from offshore drilling

http://www.catholic.org/politics/story.php?id=28333


So protect our own but ruin another country's coastline...:ohmy:

[IaNsSyAlNuE]

Thanks so much for the links, IaN!! I had been reading up on the Soros connection but got called away by work. Obviously BO (like a recent president) like Big Oil. Maybe he figured while he was holding one shiny object in one hand (HealthCare Reform), this would slip by those of us who want to know about ALL activites by our elected reps. While Pelosi/Reed and others in the party of Tax and Spend are calling my fellow Americans names, Obama is creating even bigger problems.

Nero fiddling while Rome is burning, perhaps?


Quite, this makes no sense.

[IaNsSyAlNuE]

Aside from the fact that the US is not 'snapping up' oil fields from this group rather we are lending money for Brazil to drill off their own shore. This would benefit us how? And not just us economically but also the world ecologically? Oh wait, that's right - it will not benefit us as in you and I rather it will line Soros' pockets and Petrobras' as well as, in a round about way, BO's. You know, kind of like Cheney and Halliburton.

The whole thing stinks to high heaven IMO.

[Patriot]

Aside from the fact that the US is not 'snapping up' oil fields from this group rather we are lending money for Brazil to drill off their own shore. This would benefit us how? And not just us economically but also the world ecologically? Oh wait, that's right - it will not benefit us as in you and I rather it will line Soros' pockets and Petrobras' as well as, in a round about way, BO's. You know, kind of like Cheney and Halliburton.

Exactly. :thumbup: Where is the outrage? Stinks to high Heaven indeed.

[Carol25]

The more I think about this the more I become suspect. Why? One of Obama’s biggest taking points was Oil exploration and how it should be stopped because of our and I quote "addiction to oil and its killing the EARTH'.

However it’s okay to kill the earth if Brazil does it off of its shores and not the US? And what of Cap and trade? Wasn’t that supposed to LIMIT the production of fossil fuels and now we are lending BILLIONS TO Brazil TO DO WHAT Obama said we should not!?!?! Drill offshore?

We are in the middle of a great recession and we are lending out Treasury Dollars to Brazil when American oil producers would NEED no loans to do the same off of our shores? Doesn’t the treasury make money off of the leases anyway? This would create tax revenue and thousands of thousands of jobs!!


I just don't get it...

As most of us don't get it. That's because those dollars amd industry is needed here. Perhaps he hasn't looked at the unemployment stats recently, or it is not a major concern.

What does concern him? Let's ask ourselves, "Why would he send $2 billion dollars to Brazil for their endeavors that we could easily profit from? Just how close is Soros and Obama? Is this for him to profit personally using our tax dollars? What does the US get from this "deal?"

Thought we were broke. Of course that was before the Health Bill, green technology and Congress spending more each day. Understand the Clunkers idea is ending. Not enough money for that? But for Brazil...sure.