Brazilian State run company Petrobas has be given a preliminary commitment letter from The Transnationalist Totalitarian Progressive regime of Barack Hussein Obama, for a $2 Billion loan. They are being giving this to drill offshore Brazil, not here in America. What makes it worse is that Petrobas is owned by the Brazilian Government.
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.
Read the rest.
What makes it even more wrong is that Neo-Stalinist, George Soros owns stakes in Petrobras. Sosros is one of the leaders of the Transnational Progressive Movement and has spent Millions to have Progressives elected. This another example of the Progressive Wall Street Mafia making money off the government.
This is all an example of Transnational Globalism, your tax money will go to Foreign entities. Meanwhile, Obama prevent drilling offshore here in the Unites States. The irony is the 2 billion were are “lending” this company is actually being borrowed from China. We are running a deficit and this money could be better spent at home. We also should be drilling here and not in Brazil (here is the similar case of an Australian drilling company management).
Update: The US Export-Import Bank is not funded by taxpayers. However, if the loans are not paid back, the taxpayers are on the hook for it.
(Thanks to: for the correction)
