Obama Plan for American Stimulates Foreign Economies

[WhiskeyGirl]

Not just batteries...no jobs or prosperity for you America...

(note to self...the U.S. is broke and headed toward hyper-inflation...mo)

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.

This is progress, however slow. But it still doesn't allow the U.S. to explore in Alaska or along the East and West Coasts, which could be our equivalent of the Tupi oil fields, which are set to make Brazil a leading oil exporter. Americans are right to wonder why Mr. Obama is underwriting in Brazil what he won't allow at home.

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

No jobs for you America.  No prosperity.

It's all about giving America away to special interests, politicians, big business, and foreigners.

Destroying America one dollar at a time?

jmho

[WhiskeyGirl]

"Obama pays off supporter Soros with $2B in federal loans to drill in Brazil"

The question is why? It’s a POLITICAL PAYOFF TO GEORGE SOROS is why. The liberal rabble-rouser has 5.8 million of the company’s U.S.-traded preferred shares. Once again mainstream media has turned a blind eye to newest of Obama scandals. The Lone Conservative says it all,

Even without the Soros connection this should cause outrage on both sides of the aisle. Obama’s letting down his green supporters on the left by investing in off-shore oil drilling, no matter where that drilling takes place. And the right should be outraged because he refuses to invest in drilling here at home – or allow private companies to do so."

http://www.examiner.com/x-14143-Orange-County-Conservative-Examiner~y2009m8d21-Obama-pays-off-supporter-Soros-with-2B-in-federal-loans-to-drill-in-Brazil

[WhiskeyGirl]

Earlier this week, we found out what kind of energy production Barack Obama likes to support when he offered $2 billion in loans and guarantees to Brazilian oil producer Petrobras to drill off Brazil’s shores — while supporting a moratorium on offshore drilling in the US.  Coincidentally, Obama had the opportunity to offer the exact same amount of money to an American company for energy production just three weeks earlier.  Did they get the cash for their zero-emission energy industry venture?  Apparently, George Soros didn’t invest in USEC:

Bethesda-based USEC on Tuesday accused President Obama of reneging on a campaign pledge after the Energy Department turned down the company’s request for $2 billion in loan guarantees for a new uranium enrichment project in Piketon, Ohio.

USEC, which operates the nation’s only uranium enrichment facility, said it would “demobilize” the new project, which it said could not obtain private financing without the federal loan guarantee. The company has already spent $1.5 billion on what it calls the American Centrifuge Plant, but USEC says the final price tag could reach $3.5 billion, 1 1/2 times as much as it estimated two years ago.

“We are shocked and disappointed by DOE’s decision,” USEC chief executive John K. Welch said in a statement. “President Obama promised to support the loan guarantee for the American Centrifuge Plant while he campaigned in Ohio. We are disappointed that campaign commitment has not been met.”

... Obama found $2 billion in the depleted Treasury to fund an expansion of oil production in Brazil, despite both his opposition to American offshore drilling and to increasing reliance on fossil fuels.  However, he cannot find any money to keep a promise to support nuclear energy in the US by keeping the USEC plant in operation in Ohio, a state that will get hammered by his cap-and-trade proposal....

http://hotair.com/archives/2009/08/20/what-obama-wouldnt-fund-with-2b-in-loan-guarantees/

No jobs or prosperity for Americans.  Is this what Obama meant when he told supporters that he wanted to 'share' our success with others?

Is healthcare a diversion from all these other give-a-ways?

Batteries...oil...water...

[WhiskeyGirl]

Why is Obama investing in foreign oil?  He pushes green at home...

Won't drill at home...

Invests billions in Brazil...

[WhiskeyGirl]

George Soros Cut Petrobras Stake in Second Quarter (Update2)

By Saijel Kishan and Andres R. Martinez

Aug. 14 (Bloomberg) -- Billionaire George Soros cut his stake in his biggest holding, Petroleo Brasileiro SA, in the second quarter while buying more shares of other energy producers.

His New York-based hedge-fund firm, Soros Fund Management LLC, sold 22 million U.S.-listed common shares of Petrobras, as the Brazilian oil company is known, according to a filing today with the U.S. Securities and Exchange Commission. 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

I'm still trying to figure out how American's/taxpayers will profit from the billions Obama is giving to Petrobras.