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Vitter wants answers on Brazil drilling loan; Paul wanted answers too
The US Report ^ | 22 March 2011 | Kay Day

Posted on 03/22/2011 2:19:36 PM PDT by Crush

Sen. David Vitter (R-La.) wants answers from the US taxpayer supported Export-Import bank about a $2 billion loan to Brazil for offshore drilling. Vitter’s home state is suffering under a moratorium imposed by President Barack Obama. Vitter said Louisianians “are frustrated” and he wants to know “why permitting domestically is nearly stalled…”

Rep. Ron Paul (R-Texas) had questions about ExIM—nine years ago when he asked Congress to reject the reauthorization of ExIm for “economic, constitutional and moral reasons.”

Vitter sent a letter to Fred Hochberg, Ex-Im president, on March 17. Vitter asked Hochberg to identify all US companies that have increased exports because of the US taxpayer funded loan to Brazil. Vitter wanted to know which exports have increased, the return on investment and the names of all US and foreign investors “that increased their shareholdings in Petrobras in excess of $50 million within a six month period before and after the ExIm loan.”

Curiously during the same time frame the loan to Brazil was announced in August, 2009, Bloomberg announced George Soros “sold 22 million U.S.-listed common shares of Petrobras…” Soros is a billionaire who often supports socialist-progressive groups and candidates.

By September, headlines at Businessweek announced Petrobras raised $70 billion in capital. The capital was raised in the “world’s largest share sale.” Afterwards Petrobras, said the news service, became the fourth largest company in the world.

Scribd featured a list of Petrobras investors. Petrobras is state-controlled.

In 2002, Paul who is known as a fiscal hawk, delivered a passionate speech on the House floor calling ExIm “corporate welfare.” Paul pointed out ExIm was an “agency of the government that allocates credit to special interests and to the benefit of foreign entities.” Paul rightly pointed out the establishment of ExIm was unconstitutional...

(Excerpt) Read more at theusreport.com ...


TOPICS: Front Page News; Government; US: Louisiana
KEYWORDS: 2002; 200908; 200909; 201103; 20110317; avondale; billionaire; brazil; brazilians; constitution; corporatewelfare; corruption; davidpaterson; davidvitter; democrats; drilling; energy; exim; eximbank; exportimportbank; exports; fraud; fredhochberg; gulf; gulfofmexico; hochberg; johnfkerry; kerry; liberalfascism; milano; moratorium; obama; offshore; offshoredrilling; offshoreoil; oil; palin; paterson; petrobras; portauthority; progressives; randpaul; socialists; soros; vitter; welfare
Florida debates offshore drilling as Brazil gets US loan to drill
Drill ban begs question: Do Dems want the U.S. to fail?
The US Report
1 posted on 03/22/2011 2:19:38 PM PDT by Crush
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To: Crush

Answer: Soros


2 posted on 03/22/2011 2:20:31 PM PDT by MrB (The difference between a Humanist and a Satanist - the latter knows whom he's working for)
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To: Crush

Many years ago I decided our energy policy was to pump every other nation around the globe dry of oil before we seriously tap ours. Pump theirs low price and save ours for future critical need as a last resort.


3 posted on 03/22/2011 2:23:28 PM PDT by blackdog
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To: Crush

Sorry, but sitting on my butt whining takes too much time to do anything about it.


4 posted on 03/22/2011 2:24:02 PM PDT by Gatún(CraigIsaMangoTreeLawyer)
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To: MrB

Answer: Soros

Devil man walking!


5 posted on 03/22/2011 2:29:20 PM PDT by Bitsy ( i)
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To: blackdog
Seems like a dumb strategy when we have hundreds of years of fossil fuels available in the US and buying overseas funds many of our enemies. Chances that humanity can't come up with viable energy alternatives in the next few hundred years? ZERO. Think fusion and technologies not yet dreamed of.
6 posted on 03/22/2011 2:30:45 PM PDT by JPG ("2012 Can't Come Soon Enough" - Sarah Palin)
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To: MrB

You got it. This is the most corrupt administration in history. If only there is a Patriot left in the FBI.


7 posted on 03/22/2011 2:36:07 PM PDT by screaminsunshine (34 States)
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To: MrB

Put two and two together, David...


8 posted on 03/22/2011 2:36:13 PM PDT by Eric in the Ozarks (Go Hawks !)
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To: Crush

Everything Obama has done has been outside his obligation to the US as its pResident. Impeachment cannot begin to cover it. Jail and a firing squad loom as a possible outcome.


9 posted on 03/22/2011 2:39:55 PM PDT by Don Corleone ("Oil the gun..eat the cannolis. Take it to the Mattress.")
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To: Crush

The “Right Wing” hyperventilating morons who are saying “soros controls this” or whatever sound like the total f*****g idiots they are.

This is a Good Loan for American based petro support industries in the United States. Almost every dollar loaned will be spent by Petrobras for services/goods by American companies, on top of that Petrobras will pay banking fees to a US bank, and the interest payments go back to the US I/E Bank, i.e. the US taxpayer. The only part of the loan not being repatriated to the US will be related salaries and some bureacratic/administrative costs for workers in Brasil and the Brasilian gov.

This strengthens the US petroleum industry base, allowing long term growth in broader markets and two of the largest uptapped oil fields in the world.

Vitter needs to get bitch slapped by the offshore support industry leaders based in La. who desperately need to beat European Middle Eastern and Asian competitors in to the Brasilian off shore oil fields, and in the larger Brasilian petroleum extraction marketplace.


10 posted on 03/22/2011 2:41:01 PM PDT by JerseyHighlander
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To: Crush
Well, late to the party but at least someone is acting like they want something done.

zero and admin is so well ensconced into our politics, I'm afraid even armed revolution will not clean us out.

The opportunity was lost Nov., 2008

11 posted on 03/22/2011 2:44:37 PM PDT by knarf (I say things that are true ... I have no proof ... but they're true.)
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To: Crush
Why the HELL isn't the Oil LOBBY running commercials for Obama to Lift the BAN?????

Geesh...it would be damned easy to interview people about the price of gas and have them look in the camera and say "President Obama...LIFT THE BAN"!!!!

12 posted on 03/22/2011 2:46:44 PM PDT by Ann Archy (Abortion is the Human Sacrifice to the god of Convenience.)
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To: Crush
"Bloomberg announced George Soros “sold 22 million U.S.-listed common shares of Petrobras…”

All Soros did was move the shares to another of companies.

"Soros has also put money in Brazil using his Buenos Aires- based Adecoagro venture, which invests in agriculture and renewable energy in Latin America.

The firm said in February it may hold an initial public offering to fund projects including a Brazilian sugar mill."

http://www.businessweek.com/news/2010-08-17/soros-sells-petrobras-dumps-biggest-company-holding.html

13 posted on 03/22/2011 2:48:23 PM PDT by NoLibZone (Impeach Obama & try him for treason / Homosexuals reject diversity / Unions finally caught for theft)
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To: screaminsunshine
Do you hear ANYONE complaining about the price of gas or complaining that Obama won't let US drill yet geive LOANS to OTHER Countries to Drill????

We have STUPID people in this country.

14 posted on 03/22/2011 2:48:23 PM PDT by Ann Archy (Abortion is the Human Sacrifice to the god of Convenience.)
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To: Ann Archy

Scared.


15 posted on 03/22/2011 2:49:17 PM PDT by screaminsunshine (34 States)
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To: Crush

More of the method to Obama’s madness is being exposed.

We can’t get rid of this idiot fast enough!!


16 posted on 03/22/2011 2:50:32 PM PDT by DustyMoment (Go green - recycle Congress in 2012!!)
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To: JerseyHighlander

http://pbma.nasa.gov/docs/public/pbma/images/msm/Petrobras_ViTS.pdf


17 posted on 03/22/2011 2:54:50 PM PDT by patton
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To: JerseyHighlander

Many actions of Obama’s administration strongly suggest that he is working against the best interest of the American people.

You cannot serious if you think Obama or his representatives signed the deal because it is good for the American people.


18 posted on 03/22/2011 3:00:25 PM PDT by Jonty30
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To: Crush

I sell to the oil industry, on Petrobras’ projects they will only buy Brazilian product unless there is not a comparable item made in Brazil. So tell me how our money which when to Petrobras has increased exports!


19 posted on 03/22/2011 3:07:58 PM PDT by Lockbox (`)
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To: patton

Right.
Look, the argument over Salazar’s illegal blocking of permitting in the GoM and the Ex/Im loan to Petrobras are separate issues on most levels.

Blocking GoM permits, and blocking Ex/Im loans to Petrobras are BOTH BAD FOR US BASED BUSINESSES.

The Petrobras 36 platform was built in Italy, converted in Canadian shipyards.
Under the terms of the Ex/Im deal, the future platforms bought by Petrobras could be competitively bid on by US shipyards. Future retrofits/conversions could be competitively bid on by US Shipyards. Shipyards based in La., Ms. and Tx.

Vitter must not get campaign contributions from Avondale Shipyards in New Orleans.


20 posted on 03/22/2011 3:17:10 PM PDT by JerseyHighlander
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To: Crush

This has been going on a while:

“Did Obama bribe Brazil with $2 billion to help put Honduras’s Zelaya back into power?”

http://www.freerepublic.com/focus/bloggers/2352071/posts

Source: http://islandturtle.blogspot.com/2009/09/did-obama-bribe-brazil-with-2-billion.html

September 30, 2009

“Something smells fishy. First the Obama administration announces $2 billion of financial support for Brazil’s offshore drilling efforts. And a month later Brazil spirits legally deposed Honduran President Manuel Zelaya back into the country, granting him sanctuary in its embassy. Are these two stories related?”

We saw how that one finally played out, our did we? Obozo and the State Department is still trying to get Mel (Zelaya) the Commie back in power.

Professional Courtesy, one Commie Tyrant to another.


21 posted on 03/22/2011 3:35:30 PM PDT by Texas Fossil (Government, even in its best state is but a necessary evil; in its worst state an intolerable one)
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To: Crush

From an old post on FR:

U.S. Government to Loan Brazil’s Petrobras $10 Billion (12/25/09)

http://www.freerepublic.com/focus/f-news/2416153/posts

” The U.S. government is preparing to provide up to $10 billion in loans to finance the development of massive hydrocarbon reserves off Brazil’s coast thought to contain 80 billion barrels of high-quality crude, an amount that could lead to a six-fold increase in Brazil’s current proven reserves and transform that nation into one of the world’s 10 largest oil producers.”

Obozo has destroyed our off-shore drilling and arranged a 10 BILLION DOLLAR loan for an off-shore project in Brazil through the Export/Import Bank.

He destroys our oil business and loans 10 BILLION to another Commie.....


22 posted on 03/22/2011 3:36:17 PM PDT by Texas Fossil (Government, even in its best state is but a necessary evil; in its worst state an intolerable one)
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To: Crush

Are you surprised Obozo is well received in Brazil? He is assisting another Commie.....Lula da Silva

Forum of São Paulo (FSP) (started in São Paulo Brazil)

http://www.traditioninaction.org/HotTopics/i74htForumSP-Torres.html

“The Forum of Sao Paulo is an organization founded in 1990 by Fidel Castro and Lula da Silva, then president of Brazilian Workers Party (PT), in the city of Sao Paulo, Brazil, thence its name. The confessed goal of the organ is “to save what had been lost of Communism in Eastern Europe and the old USSR.” The FSP has brought together most of the leading communist and socialist organizations of Latin America, including notorious terrorist groups. At its meetings, it has hosted as guests many observers from European and Asian Communist parties.”

“After his rise to the presidency of Brazil (he is now in his second turn), Lula da Silva gave this organization every possible support. Today, along with Cuba and Brazil, the FSP includes the governments of Argentina, Bolivia, Chile, Ecuador, Nicaragua, Paraguay, Uruguay and Venezuela. Consequently many international accords have been signed among these countries in order to guarantee future success for Communism and Socialism in Latin America. - ASG”

Clear Enough?.....


23 posted on 03/22/2011 3:37:24 PM PDT by Texas Fossil (Government, even in its best state is but a necessary evil; in its worst state an intolerable one)
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To: Crush

Reduced drilling in the US is how the socialists redistribute the wealth of American citizens to other countries around the world. This technique has been employed by socialists in America for years, and the supporters are members of both parties.


24 posted on 03/22/2011 3:49:51 PM PDT by stockpirate (Rebellion to tyranny is obedience to God!)
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To: JerseyHighlander

“This is a Good Loan for American”

You’re being sarcastic?


25 posted on 03/22/2011 3:55:11 PM PDT by sdcraigo
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To: JerseyHighlander

Petrobas is used world-wide in engineering schools as as example of how not to build something, second only to the Tacoma Narrows Bridge (Galloping Gertie).

And we loaned them money to build something?


26 posted on 03/22/2011 4:47:49 PM PDT by patton
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To: Don Corleone

“Jail and a firing squad loom as a possible outcome”

Electric chair would be better. Seeing them big ole ears flame up


27 posted on 03/22/2011 4:56:16 PM PDT by Figment ("A communist is someone who reads Marx.An anti-communist is someone who understands Marx" R Reagan)
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To: Lockbox

“So tell me how our money which when to Petrobras has increased exports!”

That’s easy, it increased the export of American dollars


28 posted on 03/22/2011 5:00:33 PM PDT by Figment ("A communist is someone who reads Marx.An anti-communist is someone who understands Marx" R Reagan)
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To: JerseyHighlander
Avondale is closing in a couple years.
29 posted on 03/22/2011 6:51:33 PM PDT by SeafoodGumbo
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To: Crush

From an old post here on FR:

Yesterday (8-23-09) I received a tip from an a friend on Twitter who is in Brazil. We have had exchanges for some time, but he directed me to a site that gave the background on Lula and the Sao Paulo Forum. And it’s efforts to destabilize much of Latin America.

This has a direct effect on events in Honduras and the neighborhood.

I had no idea Lula was a hard Commie, but appears he is.

Links follow:

“Olavo de Carvalho explains Lula and the Sao Paulo Forum”

Original article here> http://alekboyd.blogspot.com/

It explains connections with Chavez(Venezuela), Castro(Cuba), Lula(Brazil), Ortega(Nicaragua) and Zelaya(Honduras). This is an organized new force of Communists in South & Central America. (The current U.S. administration is supporting Zelaya who is involved and Lula who was a founder of the Forum)

I posted on August 24th 2009>

I have made some recent observation that are troubling me about the “New School” involvement.

What do you think of these connections?

Connect the dots for a “pattern”:

Leftie think tank (New School) & Loan for offshore drilling from Export Import Bank (New School President).

Is there a connection between the lefties at the “New School” and Obozo’s membership in the “New Party”?

Here are some dots>

FRED P. HOCHBERG SWORN-IN BY VICE PRESIDENT BIDEN AS THE NEW PRESIDENT OF
EXPORT-IMPORT BANK OF THE UNITED STATES

http://www.exim.gov/pressrelease.cfm/83F0B254-D8B4-8E17-6C4E93781B6988FA/

“Hochberg has more than 30 years of experience in business, government and philanthropy. From 2004 to 2008 he was dean of Milano The New School for Management and Urban Policy. From 1998 through 2001 he served as deputy, then acting administrator of the Small Business Administration (SBA), where he helped to lead an enhancement of customer service and substantially increased lending to minority and women small-business owners.”

“Hochberg is dedicated to community service and philanthropic involvement in civil rights, education and the arts. He recently sat on the boards of the Citizens Budget Commission, FINCA International Micro Finance, and the Howard Gilman Foundation, and has served as an appointed representative to the New York State Financial Control Board. Hochberg also served on the Board of Commissioners of the Port Authority of New York and New Jersey, having been appointed to the position in 2008 by Governor David A. Paterson.”

“Ex-Im Bank is the official export-credit agency of the United States.”

PALIN SLAMS OBAMA OVER FUNDING BRAZILIAN OFFSHORE OIL DEVELOPMENT

http://www.freerepublic.com/focus/f-bloggers/2319646/posts


30 posted on 03/22/2011 7:27:27 PM PDT by Texas Fossil (Government, even in its best state is but a necessary evil; in its worst state an intolerable one)
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To: JerseyHighlander
The “Right Wing” hyperventilating morons who are saying “soros controls this” or whatever sound like the total f*****g idiots they are.

Thanks. You just insulted most of us. That is a tactic most often used by the Left. Us effing right wing idiots are just sitting here in the corner drooling and clinging to our guns and Bibles.

This is a Good Loan for American based petro support industries in the United States. Almost every dollar loaned will be spent by Petrobras for services/goods by American companies,

Who makes most of the oil field equipment used in the world? Who has the largest oil field service companies in the world? Who has the most trained workers? Who is closest to Brazil? It looks to me like we would have gotten most of that business regardless. However, once we get a human back in office and start drilling in this country most of our trained personnel will be busy in Brazil.

Under the terms of the Ex/Im deal, the future platforms bought by Petrobras could be competitively bid on by US shipyards. Future retrofits/conversions could be competitively bid on by US Shipyards. Shipyards based in La., Ms. and Tx.

Why wasn't that made part of the deal? We also may NOT get a chance to bid and our bids may NOT win.

Like others, I think you are the one who is looney for thinking Obama is doing this to help the USA. You say the drilling moratorium is Salazar's deal just like Clinton said Waco was Reno's deal. How can Obama be bankrupting our country and destroying our economy yet this deal with Brazil is to HELP America but NOT Soros who has large investments in Brazil??? Do you have a bridge to sell along with that argument?

31 posted on 03/22/2011 8:01:11 PM PDT by Mind-numbed Robot (Not all that needs to be done needs to be done by the government!)
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To: JerseyHighlander

Oh like the folks who worked in the oil industry down in the Gulf didn’t spend money that flowed back into American market. The truck drivers, the steel, the electricans, the welders,the helicopter pilots who fly workers to and from their jobs in the Gulf, the airlines that fly the workers to and from their homes and work, the supplies needed for the oil rigs, the hotel workers for the oil emoployee’s who fly in and have to report to work the next day but need a nite to crash, the food service workers on the oil rig, the food supplies,

20,000 plus have lost their jobs down in the Gulf directly and indirectly related to the moratorium. Quite a few deep drill companies have left for other countries....our workers go to other countries set up the rigs then get fired so they can hire their own people....

Fees to the banks? Yeah, like consumers will ever see that revenue...

But you’re right, let’s keep those brazilians working.....

Talk about f’ing idiots....


32 posted on 03/22/2011 8:03:44 PM PDT by Engedi
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