Posted on 09/08/2010 8:48:50 AM PDT by Nachum
(CNSNews.com) – The U.S. Export-Import Bank, an independent federal agency, loaned more than $1 billion to the Mexican state oil company PEMEX in 2009 to support the company’s oil drilling in the southern Gulf of Mexico. The bank has another $1 billion in loans in the pipeline for 2010, unless Congress objects.
On May 27, after the British Petroleum oil spill, President Obama imposed a moratorium on U.S. deepwater drilling in the Gulf, effecting 33 deepwater drilling rigs in the region.
(Excerpt) Read more at cnsnews.com ...
I don’t need to study an issue that I’ve been well informed on for decades, may I suggest you educate yourself.
Is that why you didn’t click-through to read the rest of the article?
Well, in the immortal words of Phil Collins, “I don’t care anymoooeooo.” Buh bye.
I love these threads. Probably the most of all, of all on FR.
While there are no un-truths in the WSJ article you linked to. it is incomplete and inaccurate.
For their first round of financing covering 2009-2013 Petrobras needed about 30 billion and then they would need more subsequently.
The Brazil Development Bank came in at $14.5 billion, a group of international banks came in with $5.5 billion and finally the China Development Bank with $10 billion. For the $30 billion total thru 2013.
After China comes in, the US has to get in with an equal amount, but the $30 billion has already been raised.
So NSA Jones tells them that the US is in for $10 billion, and please take the this $2 billion now, even though you don't need it, as a commitment of the total $10 billion, which also allows the US to get in on the ground floor.
And we actually believed them....
LOL!
Well they must have had a plan, because that is exactly what they are doing.
...more than $1 billion to the Mexican state oil company PEMEX in 2009 to support the company's oil drilling in the southern Gulf of Mexico. The bank has another $1 billion in loans in the pipeline for 2010, unless Congress objects.
It’s pretty easy for a party to a contract to determine whether the other party is satisfying its obligations. I’d like to see some evidence that Pemex breached it, but that’s just me. Believe what you want to believe.
I see what you did there.
Ping
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