Skip to comments.Brazil Stiffs Obama on Oil Deal, Exposing President's Incompetence
Posted on 01/21/2012 3:26:40 PM PST by NormsRevenge
COMMENTARY | President Barack Obama has suffered the second embarrassment over oil imports within the space of a week. Brazil, whose offshore deposits of oil were sought by the Obama administration, has signed contracts with China for the product.
According to the Washington Times, Brazilian offshore crude may number about 38 billion barrels. Obama went to Brazil last month to put in a bid for the oil, offering loans and other support to develop the oil in an "environmentally responsible matter," The Hill reported at the time. Republicans criticized that initiative, pointing out Obama has placed roadblocks in the way of domestic development of oil and gas reserves.
Brazil's decision comes on the heels of Obama's refusal to permit the building of the Keystone XL pipeline to bring oil from Canada's tar sands in Alberta to Texas oil refineries, according to the Los Angeles Times. The decision was criticized by Republicans as well as union officials who point out that 20,000 jobs the pipeline would bring would therefore not be created.
Obama's policy in regard to oil and gas has been a study in incompetence driven by an ideological mania against hydrocarbon fuel in favor of more politically correct forms of energy production. This has not only led to what amounts to a campaign against oil and gas production in the U.S., but embarrassing scandals such as Solyndra, brought on by unwise federal loan guarantees to dubious green energy companies.
(Excerpt) Read more at news.yahoo.com ...
Who voted for Prezident O’Dumbo?
Makes ya scratch your head.
Didn’t obama already loan soros and petrobas an ungodly amount of money last summer to ‘lock in” this deal?
OK, so the world still hates us, but at least the oceans stopped rising and our planet is healing.
What happened to the 2 billion dollars plus subsidizing Petrobas, a company soros owns a piece of? what of all the drilling rigs that left the gulf for southern climes?
a walking black hole..
Oh well, I guess we’ll just have to make do without the oil...
I think ‘schmuck’ might be an appropriate word here.
Even Yahoo is dissing Obama?
Isn't this the country we gave five billion dollars to develop their offshore oil discovery? didn't Soros have a major investment in this oil company.
The Chinese are not squeamish about paying bribes.
Yes they will. They just won't be Americans.
Canada is going to build a pipeline to send that oil to market. It will go across Canada to the west coast and from there the oil goes to China to be refined and sold into the Chinese market.
Canadians and Chinese will go to work. Americans will sit on their couches and hope for O's sustainable economy to kick in.
O's economic program is going to put millions to work. Just not in the US.
That is a much nicer word then I have been using.
Let us not forget all of the gulf rigs that left after B.P. I would imagine most of them are on their way to Brazil.
I don’t know that I would assume that Obama wanted this oil for the US. He may have wanted it for China. By using American taxpayer dollars to bail out GM, he allowed GM to keep their prices low and sell more cars in China. Those GM cars in China need gas too.
Obama loaned Brazil $10 BIILLION and it given to Petrobras, the Brazilian government-owned company that George Soros owns a lot of shares in or did own slot of shares in at the time.
Oh sure Yahoo, give Brazil ALL the credit!
Yes, at the same time that he was shutting down all drilling and production in the Gulf, I read stories that he was giving major funding to Brazil for offshore drilling.
But I suspect that he told them he would only give them the money if they promised to sell the oil to China. That’s the way he operates. It’s not just stupidity, it’s deliberate evil.
Obama....the brilliant idiot!
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