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Obama to finance oil drilling... in Brazil!
$2 BILLION of taxpayer money so far, and the funding may increase. Drill here, drill now to lower energy costs, and create jobs... in Brazil that is.
| quote: | 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 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/SB100...0120524166.html
So, uh.... who benefits? Well, by total coincidence George Soros owns a 23% stake in the energy producer, and just a few days before this deal was signed, he repositioned himself in Petrobras to make even more money off the dividends. And who provides hundreds of millions of dollars for Obama's causes? George Soros.
NOTE: this Bloomberg story is from 3 or 4 days before Obama made the deal with Petrobras:
| quote: | 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.
Soros is taking advantage of the spread between the two types of U.S.-listed Petrobras shares, said Luis Maizel, president of LM Capital Group LLC, which manages about $4 billion. The common shares were 21 percent more expensive than preferred today, according to data compiled by Bloomberg.
“He knows he held a voting right in the common shares that would never translate to actual power,” Maizel said in an interview from San Francisco. “He’s just playing the spread.”
Petrobras preferred shares have also a 10 percent additional dividend, said William Landers, a senior portfolio manager for Latin America at Blackrock Inc. |
http://www.bloomberg.com/apps/news?...id=a.V5sgGzdsQY
What's even more fucked up is that 3 weeks earlier, a U.S. energy company in Ohio was denied the same amount of funding for nuclear energy development that Obama promised he would provide them while campaigning. The deceit and corruption in this administration is fucking staggering... as is the deafening silence of the mainstream media to report this.
http://www.washingtonpost.com/wp-dy...9072802617.html
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