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 ...
A new energy crisis this summer, brought on by turmoil in the Middle East, is not outside the realm of possibility. The bad news is Americans will suffer, just as they did in 1973 and 1979. The good news is Americans are likely to make their ire known at the polls in the fall.
Obama was probably elected fair and square. Unfortunately, we are not immune from the consequences of the folly of the voters.
Perhaps the article's author is right and they'll learn from their mistake...though for many, I rather doubt it.
Why does Obama think it is okay for Brazil to drill for oil offshore but not us?
This article is pretty scathing coming from Yahoo.
As opposed to China's bid that requested "any way that you want to."
I have been reading about China getting this oil for at least a year. This is not news.
“Why does Obama think it is okay for Brazil to drill for oil offshore but not us?”
Because he’s a Kenyan-Muslim-Marxist that hates America. It’s that simple.
5.00 a gallon gas by June. Way to go O’Dumbo.
Ah, yep, that was the plan all along.
Make the American people debt slaves and give the dough to an enemy nation specifically to deny the oil to the American economy, sending jobs, corporations and economic expansion to another of America's enemies.
Americans drown in debt to fund their own execution. The plan from the very start.
Well, in 500 years or so when those sustainable energy sources are ready for market, those Canadians and Chicoms will be SO sorry they didn't get in on the ground floor with us.
Over in the wood shop, his cross is being prepared as we post
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Money from the proceeds of the sale to China will be kicked back directly to Obama.
China offered more and thus raised the amount of the kickback.
Obama fares better personally when China pays more than the USA
This article is pretty scathing coming from Yahoo.
— sure caught my eye. ;-)
HOW ‘BOUT THAT TWO BILLION HE GAVE BRAZIL...WORST PRESIDENT EVER!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
So far his record on oil and gas has been gasedly!!!
...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.The ONLY coverage this will get is if Newt, Rick, or Mitt talk about it on the campaign trail. Paul will only talk about it in order to take the side of China, so that won't be newsworthy.
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China didn’t give a crap about environmentally sensitive extraction techniques insisted on by the US government, so Brazil, knowing it’d be easier and more profitable to tell the US to take a hike, signed a deal with China, the number one economic and military enemy of the United States.
Barack is a disaster for the US.
He just kept us in subjection to Mid-East oil.
Didn’t Obama give Soros’ oil company taxpayer millions to drill offshore Brazil? Then Obama nixed the Canadian oil - which is going to China. Now the oil from Brazil is going to China also? Guess Soros and Obama are being very successful in bringing our country to its knees. Where are the Republicans? Are they also bankrolled by Soros?
Obamanation administration is a job killing, deficit spending, liberty killing, Constitution killing, states rights killing, America hating, Marxist communist,family life killing, economy killing, baby and old people killing, democrat thieving,lying, and evil conglomeration of arrogant, self loving monsters from hell.