Obama Underwrites Offshore Drilling in Brazil

Brn2bfree · Mar 25, 2011

Obama Underwrites Offshore 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.

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.

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

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Too bad it's not in U.S. waters.

David · Mar 28, 2011

I'm going to explain this bluntly. We're probably going to see quite a bit of that oil in return for bankrolling the operation to say nothing of the money to be made when the lone is repayed, + interest. Thus we get to tap into a major oil field, make a nice profit and if things go to shit, it's not our environment getting ruined. President Obama is simply being pragmatic.

DodgeFB · Mar 29, 2011

I think of him as more " idealistic" than "pragmatic" As with many others running (or ruining"") the country. For years I have heard of all this oil we will get or that we have stolen. So far I am not seeing any good results at the pump.

He is just one of many in power that I would not want as mayor or dog warden much less in the job they have now.

David · Mar 29, 2011

DodgeFB said:
I think of him as more " idealistic" than "pragmatic" As with many others running (or ruining"") the country. For years I have heard of all this oil we will get or that we have stolen. So far I am not seeing any good results at the pump.

He is just one of many in power that I would not want as mayor or dog warden much less in the job they have now.

As I've stated before, the current leadership is mostly made up of Baby Boomers. That generation can be divided between those who got an education and/or served in the military, got a good job and worked their asses off to be successful and those who leached off their parents wealth and/or married someone in the 1st group and went into politics not to serve but for the paycheck and influence. So you have the actual leaders as CEOs and what amount to 50-60 year old high school whiners holding political office. The Greatest generation is to old to serve so until the Millennials come of age in large enough numbers to flesh out the whole gov't, we're pretty much doomed to horrible government. Don't expect a good president until at least '20.

DodgeFB · Mar 29, 2011

David said:
Don't expect a good president until at least '20.

Damn! I hope I am dead before then!

myp · Mar 29, 2011

David said:
As I've stated before, the current leadership is mostly made up of Baby Boomers. That generation can be divided between those who got an education and/or served in the military, got a good job and worked their asses off to be successful and those who leached off their parents wealth and/or married someone in the 1st group and went into politics not to serve but for the paycheck and influence. So you have the actual leaders as CEOs and what amount to 50-60 year old high school whiners holding political office. The Greatest generation is to old to serve so until the Millennials come of age in large enough numbers to flesh out the whole gov't, we're pretty much doomed to horrible government. Don't expect a good president until at least '20.

Lol, wayyy too generalized. The President is 1 person, so 1 outlier that can get votes bursts that whole theory

David · Mar 30, 2011

myp said:
Lol, wayyy too generalized. The President is 1 person, so 1 outlier that can get votes bursts that whole theory

I'm speaking in general terms because I'm speaking of the gov't in general, not just the president. Sure we might get a great president but it's going to mean shit if we have a Congress that worries about spiting their opponents then governing.

Brn2bfree · Apr 9, 2011

David said:
I'm going to explain this bluntly. We're probably going to see quite a bit of that oil in return for bankrolling the operation to say nothing of the money to be made when the lone is repayed, + interest. Thus we get to tap into a major oil field, make a nice profit and if things go to shit, it's not our environment getting ruined. President Obama is simply being pragmatic.

Ok...you're an Obama mite.

I can tell you're a liberal.

It's not our environment getting ruined???? What are you talking about? We live in a fish bowl...They are talking about debris from Japans earth quake is going to hit the shores of Calif.

Brn2bfree · Apr 9, 2011

DodgeFB said:
I think of him as more " idealistic" than "pragmatic" As with many others running (or ruining"") the country. For years I have heard of all this oil we will get or that we have stolen. So far I am not seeing any good results at the pump.

He is just one of many in power that I would not want as mayor or dog warden much less in the job they have now.

I think of Obama as a socialist from Kenya. He's also a black theologist who thinks that the blacks have been done wrong by the rich whites and now is the time to get even....ask his uncle Jeremia

David · Apr 9, 2011

Brn2bfree said:
Ok...you're an Obama mite.

I can tell you're a liberal.

It's not our environment getting ruined???? What are you talking about? We live in a fish bowl...They are talking about debris from Japans earth quake is going to hit the shores of Calif.

Hardly.

No, I'm an evil socialist.

No shit, I'm just explaining the way he's seeing this to anyone wondering about the double standard. Never claimed to agree with that thinking.

David · Apr 9, 2011

Brn2bfree said:
I think of Obama as a socialist from Kenya. He's also a black theologist who thinks that the blacks have been done wrong by the rich whites and now is the time to get even....ask his uncle Jeremia

He's a state-capitalist from Hawaii. I'll agree on that last bit though.

RoccoR · Apr 9, 2011

David, et al,

I'm a Baby-Boomer, Vietnam War vintage.

David said:
I'm speaking in general terms because I'm speaking of the gov't in general, not just the president. Sure we might get a great president but it's going to mean shit if we have a Congress that worries about spiting their opponents then governing.

(COMMENT - Very Much in General)

We (the Baby Boomers) completely understand that, in the last five (5) decades, no one in Washington has taken the position to rebuild America; its infrastructure, its industrial base, its economic power, and our leadership in science-&-technology. There are no major political influences that have taken-up the banner that America needs to focus on our domestic needs, no one wanting to build the next Great Library of Alexandria, research institution that bring the next great leaps of discovery, or exponentially improve our ability to establish and hold a competitive advantage in commerce.

This kind of position directly relates to employment, jobs, that generate revenue in the economy and to the government that can be reinvested and improve our standing even more. We have not reinvested in our youth of the nation. By spurring growth in the fields driven by science & technology, we could drop the cost of education, build a need for engineers (builders) and scientists (discoverers), and expand the expectation and horizons of a nation ? first in the world, for everything under the Sun.

BUT, in order to achieve that, you have to change a mind set in Washington DC. Inside the Beltway, there is a single mindedness of ?utilitarian purpose? ? ?maximizing the wealth of the shareholder? is the mantra that fosters ? get what you can no matter how many jobs it cost America. It is an idea that needs reigned-in; tempered with the need of building ?our nation? and not centered on the economies of other nations.

We know this. But we cannot change it because we don't have the power to change it. Too many younger people believe that Washington is working. They believe the party line of people like House Speaker John Boehner and Senate Majority Leader Harry Reid --- they believe that these men are working in the best interest of the nation; when in fact, nothing could be farther from the truth. They work in their own best interest --- not that of the nation.

Most Respectfully,
R

Brn2bfree · Apr 28, 2011

David said:
Hardly.

No, I'm an evil socialist.

No shit, I'm just explaining the way he's seeing this to anyone wondering about the double standard. Never claimed to agree with that thinking.

You're an evil socialist....No shit...you said it.

Obama deliberately wants gas prices high. He thinks then that we will all be forced to drive little green cars. Not realistic. Speculators see that the future of supplies doesn't look good under this administration ...so therefore results in higher prices...besides, other countries are needing more and more oil.

We are addicted to oil and we can't just jump into windmills and alternative types over night. We need to gradually change. Besides, so many things are made from petroleum products.

Obama has sent investigator to see if these speculators are playing nice...This happens evertime with liberals when the prices go up...They go after the evil oil companies.....As usual, they will not find anything... But I wonder if these investigator will come back with ...'Mr. president, as long as the value of the dollar goes down...the price of oil will continue to rise.'

DodgeFB · Apr 28, 2011

Brn2bfree said:
You're an evil socialist....No shit...you said it.

Obama deliberately wants gas prices high. He thinks then that we will all be forced to drive little green cars. Not realistic. Speculators see that the future of supplies doesn't look good under this administration ...so therefore results in higher prices...besides, other countries are needing more and more oil.

We are addicted to oil and we can't just jump into windmills and alternative types over night. We need to gradually change. Besides, so many things are made from petroleum products.

Obama has sent investigator to see if these speculators are playing nice...This happens evertime with liberals when the prices go up...They go after the evil oil companies.....As usual, they will not find anything... But I wonder if these investigator will come back with ...'Mr. president, as long as the value of the dollar goes down...the price of oil will continue to rise.'

Yeah that sounds about right!

Obama Underwrites Offshore Drilling in Brazil

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