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!
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.
Soros doesn’t care who buys the oil as long as the product is sold, and he makes a profit.
He had absolutely NO experience in anything resembling leadership, foreign policy, business or economics.
On the other hand, he's damn good at American deconstruction and destruction, racial division and racking up debt.
No doubt those same idiots will vote for him again. But why?..for four more of this??? Or for the civil war that he'll bring about?
Of course it's deliberate evil.
If it was stupidity or incompetence, he'd accidentally "get it right" now and again.
Since he never gets it right...
What rational business would put big money on the line to deal with the United States on energy. They see what happened to Keystone XL. All that money down the toilet for no good reason at all, but just because the US President decides it is good politics at the moment.
You sign a contract with the Chinese, and they will buy the oil. No problem. You sign a contract with the United States, and it is only as good as Barack Obama’s whim.
That and the “help them develop the resource in an environmentally responsible manner” was enough to drive the Brazilians into the arms of a waiting China.
This Keystone XL fiasco, along with the Obama fiat closing down US oil in the Gulf of Mexico, is going to have reprecussions for a generation. Why would anybody trust us, ever again?
This is the obama version of mao’s cultural revolution. Great idiots think alike.
...it was never meant to help anyone but his buddy Soros, who you know will be “grateful” ($$$$$) to Obozo
Obama is expecting to be provided the media bites answers moves for his own good. He is a puppet of our enemies and a whore - a headless wormish body that the frustrated unions and government sbirs “hope” will lead them to salvation.
He does read like a true or false test scoring not only less than 50% but deliberately Zero.