Hot air update that raises some great questions: Why is Obama pursuing a “Drill, Brazil, Drill” strategy?
Good question! In fact, as the Washington Post editorial board notes, it’s actually a series of good questions. Not only does Barack Obama need to explain his enthusiasm for drilling and oil consumption apparently everywhere but in the US, he also needs to explain why the US wants to import oil from Brazil, but not ethanol
For Senator Vitter– it is called George Soros. He is being counted on to fund Obama’s 2012 election campaign. George is a swell friend of Brazil and Petrobras. Try not to make it hard on yourself in understanding what this is all about. Keep in mind, this $2 biilion was given several years ago. What is being talked about now is another $2 Billion and more to follow. Has no one told Zero we are broke?
Obama tells the Brazilians:
“We want to help you with the technology and support to develop these oil reserves safely. And when you’re ready to start selling, we want to be one of your best customers. Brazil holds recently discovered oil reserves that could be far larger than ours. And as we seek to increase secure-energy supplies, we look forward to developing a strategic energy partnership.”
offers…..$2 billion to Brazil’s state-run Petrobras with the promise of more to follow.
Obama wants to develop Brazilian offshore oil to help the Brazilian economy create jobs for Brazilian workers while Americans are left unemployed in the face of skyrocketing energy prices by an administration that despises fossil fuels as a threat to the environment and wants to increase our dependency on foreign oil. Full Story here Investors
The federal government has not approved a single new exploratory drilling plan in the Gulf of Mexico since lifting its deepwater drilling moratorium on Oct. 12. There are currently 103 plans awaiting review by the Bureau of Ocean Energy Management, Regulation and Enforcement.The information reveals that the Obama administration — not the oil industry — is the culprit for the slowdown of drilling activity in the Gulf. The Gulf of Mexico accounts for more than 25 percent of domestic oil production. Full story here
Sen. David Vitter (R-La.) is questioning how the United States has benefited from a $2-billion loan the Export Import Bank of the United States made to a Brazilian oil company for its offshore drilling operations.
“I am sure you can understand the frustration Louisianans have with a $2 billion loan to produce energy offshore Brazil,” Vitter wrote to Hochberg – especially given the “ongoing de facto moratorium” on deepwater drilling in the Gulf of Mexico.
“I would appreciate a full accounting for the return on investment the American taxpayer has received, and is anticipated to receive, on the $2 billion loan to this Brazilian petroleum company,” Vitter wrote to Hochberg. “I want to understand why permitting domestically is nearly stalled, and if there is at least a return on this investment over the last year and a half for supporting production offshore Brazil.” CNS News