Good news. Obama provides 2 billion dollars for offshore drilling

[burniegoeasily]

http://www.linkedin.com/answers?view...5&trk=rss_answ

http://www.associatedcontent.com/art...ollars_to.html

http://hotair.com/archives/2009/08/1...hore-drilling/

To bad its for the 7th most profitible company in the world. And in Brazil to boot. And here is a kick in the fuzzy bean bag, this company has already agreed to send a large part of said oil to China.


Dont worry, Soros has lots of money tied up in this company. And since Soros dumped mucho bucks in the Obama campaign, we can just call this what it is, pay back.


And all along, I thought Obama was for getting rid of fossil fuels and cleaning up the environment.


Why is this not on all the major news networks? Bush and Cheney were beat like a rented Mule for the Haliburton deal.

[burniegoeasily]

http://www.foxnews.com/politics/2009...hore-drilling/

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.
"I have not seen the story," he said. "I'd have to take a look."
But former Alaska Gov. Sarah Palin, a vocal proponent of offshore drilling, had plenty to say.
"So why is it that during these tough times, when we have great needs at home, the Obama White House is prepared to send more than $2 billion of your hard-earned tax dollars to Brazil so that the nation's state-owned oil company, Petrobas, can drill off shore and create jobs developing its own resources?" she asked on her Facebook page.
In fact, the 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.
Then there is the George Soros angle.
The New York-based hedge fund firm controlled by the billionaire philanthropist and backer of Democratic causes and campaigns bought and sold millions of shares in Petrobras -- the largest of the firm's holdings -- prior to public disclosure of the Export-Import bank's offer of new credit guarantees to the Brazilian energy giant.
No one has accused Soros of wrongdoing, but some say the transactions do not pass the "smell test."

[LBR]

If there is a positive side to all of this, I expect there will be numerous investigations and should be several convictions once he doesn't have a power lock on Congress. His arrogance and ego knows no bounds--seems he doesn't even bother to cover his trail or hide the smoking gun.

[C. Davis]

If that happens, and he loses even more credibility with the American public, it will be 2 billion well spent as far as I'm concernced. Even if that 2 billion goes straight into the pocket of George Soros, the return on investment has got to be better than any money spent so far, if it helps more and more people see him for what he is.

He is going from "the one", to 'the one who did it to America.'

C. Davis