Skip to comments.$2 billion US dollars to Brazil, but the oil will go to China
Posted on 01/27/2012 5:58:43 AM PST by safetysign
The U.S. is going to lend billions of dollars to Brazils state-owned oil company, Petrobras, to finance exploration of the huge offshore discovery in Brazils Tupi oil field in the Santos Basin near Rio de Janeiro. Brazils planning minister confirmed that White House National Security Adviser James Jones met this month with Brazilian officials to talk about the loan.
The U.S. Export-Import Bank tells us it has issued a "preliminary commitment" letter to Petrobras in the amount of $2 billion and has discussed with Brazil the possibility of increasing that amount. Ex-Im Bank says it has not decided whether the money will come in the form of a direct loan or loan guarantees. Either way, this corporate foreign aid may strike some readers as odd, given that the U.S. Treasury seems desperate for cash and Petrobras is one of the largest corporations in the Americas.
We want to work with you. We want to help with technology and support to develop these oil reserves safely, and, when youre ready to start selling, we want to be one of your best customers.
Mr. Obama was saying that while he was drastically slowing down leasing and permitting in the US and whining about subsides to US oil corporations. We apparently can subsidize government controlled oil companies in foreign countries, but not here (and Im not arguing for subsidies here just pointing out the usual Obama contradiction kind of like hes against bailouts, except for Chrysler, GM, Solyndra, etc.)
Well, that little jump-start of ObamaDollars has indeed helped develop these oil reserves. And the beneficiary?
Off the coast of Rio de Janeiro below a mile of water and two miles of shifting rock, sand and salt is an ultradeep sea of oil that could turn Brazil into the worlds fourth-largest oil producer, behind Russia, Saudi Arabia and the United States.
The countrys state-controlled oil company, Petrobras, expects to pump 4.9 million barrels a day from the countrys oil fields by 2020, with 40 percent of that coming from the seabed. One and a half million barrels will be bound for export markets.
The United States wants it, but China is getting it.
Less than a month after President Obama visited Brazil in March to make a pitch for oil, Brazilian President Dilma Rousseff was off to Beijing to sign oil contracts with two huge state-owned Chinese companies.
Well done, Mr. Obama.
Only wonks like us will know about it.
The populace at large will not be informed.
The populace at large will not be informed.
It’s extremely frustrating how ignorant most people are.
Most simply walk around with their heads up their butts.
This is undoubtedly some sort of New World Order scam, at the expense of the American people. And it marks yet another oil goof-up by obama, along with blocking offshore drilling and blocking that pipeline from Canada.
All these “goof-ups” are DELIBERATE, not the result of incompetence!!!!
We’ve got to kick the muslim communist wrecker obama OUT of the White House!!!!
Lead story on NBC’s Nightly Snooze...
Or they’re hiding their heads in popular culture and sports, because reality is just too awful to face.
Come on, y’all, this is an election year. Look obama and the Dims in the face and do something about them!!!!
You all act like a bunch of Ann Coulter followers who just got punked.
All part of the plan. Obama got to drain our treasury for the benefit of another country, not our own, and the commodity is going to a communist country - DOUBLE BONUS!
Here’s a Canadian perspective on the Keystone deal:
Calgary Sun 1/19/12
He would sell it to China at a lesser price than what they could get from the US?
The US customers might benefit from that oil, but 0bama wants to keep the US energy poor.
If I recall, this is borrowed money from China, soooo, we also get to pay the interest too. NOW, ain’t that special???
Yes. Obama believes our ill-gotten gains should go to help the developing world -- especially countries with avowed Marxist leaders. That's why Canada is snubbed. Too rich and too white.
It is ironic, at least, that the US is making moves to send oil to its rising enemy in the east. Strange, too. Counterproductive? Traitorous?
Well, it was China’s money in the first place and we get to pay them interest too.
Playing devils advocate here if they rely on oil local to us it makes it that much easier to shut down. If they started developing oil supplies closer to home it would be that much more difficult for us to damage them. Much like if they use our military technology it makes it that much easier for us to develop countermeasures to it.
However not a penny of our money should be going to Brazil. Frankly from a long term view they concern me more than the Chinese. If they can fund and develop a South American alliance against us in the next fifty years we’ll have enemies very close by and quite a few in our own borders.
Soros owns about $380 million worth of PBR common stock, plus some preferred. PBR has a market cap of $169 billion. That’s .22%. Soros alsos own other energy stocks such as Hess.
Where does 2 billions dollars in tax money actually come from, I dont get it. When the IRS collects all our money , how do they get $2,000,000,000 to send to Brazil and the millions to all the other countries.
After they dish it all out, what’s actually left for USA.
This should have a post of it’s own!!! Very informative on what our government is doing to us. IMO it’s both parties because our representatives are being to quiet about this.
Figures it’s Canadian news, because our media is CRAP. I have to go to Canada and the UK news agencies to find out what’s happening in my own country.
some days i want to change my screen name from sunny to pissed off
I'm a "Comment posting Zax", not a "Thread posting Zax"...
Oil is a worldwide commodity, the more put on the market the less the demand and the price falls, no matter it’s destination.