Yes, state-owned oil companies can spent public funds to finance drilling projects when the price of oil is low. However, in the U.S. we do not have state owned oil companies and therefore E&P companies and oil field services companies must operate in the free market, without having the tax payer subsidize our work in a down economy.
However, if you want the U.S. to be like Brazil, I am sure Barry, Nancy and Harry will be more than happy to nationalize the oil industry.
Obama/Pelosi are being passed by a Turd World Country. Way to go Hussain.
Pray for America, Our Troops and Ob’s Guidance
The new congress will kill the newly approved offshore drilling bill and it will go away so we need to get back to pushing all involved understand that we cannot be dependent on foreign oil and allow a windfall tax on the oil companies. (I got a letter from Boxer and she took pride in the fact that she sponsored that bill)
Save the offshore drilling and Help Sarah open anwr
Its all about National Defense, Drill for Oil Now
Is it a coincidence that Obama backer George Soros repositioned himself in Petrobras to get dividends just a few days before Obama committed $2 billion in loans and guarantees for Petrobras’ offshore operations? Hmmmmmmmmmm.