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 ...
Soros doesn’t care who buys the oil as long as the product is sold, and he makes a profit.
/sarc
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.
Not idiots.
Barbarians.
This President of ours is a complete bozo. I don’t know what killed the deal but its entirely hypocritical to go promote drilling somewhere else when you oppose it here. Why is it OK for him to want to pollute their ocean?
Of course, that has nothing to do with this I’m sure. But still, it makes me mad. And it makes me very mad that he would offer Brazil money to exploit their finds while doing everything he can to delay, avoid, retard development here in America and North America. Unreal.
“This article is pretty scathing coming from Yahoo.”
yeah at first I thought a freeper changed the title.
I continue to be impressed by the complete and total incompetence of our Dear Leader.
“Obama was probably elected fair and square.”
No. Election fraud of unbelievable proportions has been seen in every election at least since John Fitztrash Inbreddity.
“I don’t believe anyone voted for this insipid, craven fool.”
Wish it were so.
I was dropped off at the entrace to the hospital the other day, and there was some idiot in a Volvo with an Obama 2012 bumper sticker. Before I knew what I was doing, I shouted, “I hope you die.” He looked around, and I pointed my finger at him and yelled, “Yeah, you.”
A rather disturbing loss of self-control.
Still, if I were required to fulfill my oath to protect the Constitution against domestic enemies, my heart would soar like an eagle (for those who remember Dan George).
“Obama loaned Brazil $10 BIILLION and it was given to Petrobras, the Brazilian government-owned company that George Soros owns a lot of shares in or did own a lot of shares in at the time.”
If we had a free press, just about everyone would know about that.
What can we do to restore freedom of the press?
We should have a pool on the date Gasoline hits $4/gal and $5/gal. Gas hits $5/gal then Obama will surely hit the bricks in 2013.
It was out there, Obama even made a speech about it saying when Brazil starts extracting the oil that the US wants to be its biggest customer.
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