Obama Payback for Soros with YOUR Tax Dollars

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Does it get any better?
Jan 6, 2009
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Simply amazing.


President Obama Finances Offshore Drilling in Brazil - WSJ.com

Obama Underwrites Offshore Drilling

Too bad it's not in U.S. waters.

You read that headline correctly. Unfortunately, the Obama Administration is financing oil exploration off Brazil.

The U.S. is going to lend billions of dollars to Brazil's state-owned oil company, Petrobras, to finance exploration of the huge offshore discovery in Brazil's Tupi oil field in the Santos Basin near Rio de Janeiro. Brazil's 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.

But look on the bright side. If President Obama has embraced offshore drilling in Brazil, why not in the old U.S.A.? The land of the sorta free and the home of the heavily indebted has enormous offshore oil deposits, and last year ahead of the November elections, with gasoline at $4 a gallon, Congress let a ban on offshore drilling expire.

The Bush Administration's five-year plan (2007-2012) to open the outer continental shelf to oil exploration included new lease sales in the Gulf of Mexico. But in 2007 environmentalists went to court to block drilling in Alaska and in April a federal court ruled in their favor. In May, Interior Secretary Ken Salazar said his department was unsure whether that ruling applied only to Alaska or all offshore drilling. So it asked an appeals court for clarification. Late last month the court said the earlier decision applied only to Alaska, opening the way for the sale of leases in the Gulf. Mr. Salazar now says the sales will go forward on August 19.

This is progress, however slow. But it still doesn't allow the U.S. to explore in Alaska or along the East and West Coasts, which could be our equivalent of the Tupi oil fields, which are set to make Brazil a leading oil exporter. Americans are right to wonder why Mr. Obama is underwriting in Brazil what he won't allow at home.

Soros Hedge Fund Bought Petrobras Stake Worth $811 Million - Bloomberg.com

Soros Hedge Fund Bought Petrobras Stake Worth $811 Million

By Jeb Blount and Miles Weiss

Aug. 15 (Bloomberg) -- Billionaire investor George Soros bought an $811 million stake in Petroleo Brasileiro SA in the second quarter, making the Brazilian state-controlled oil company his investment fund's largest holding.

As of June 30, the stake in Petrobras, as the Rio de Janeiro-based oil producer is known, made up 22 percent of the $3.68 billion of stocks and American depositary receipts held by Soros Fund Management LLC, according to a filing with the U.S. Securities and Exchange Commission. Petrobras has since slumped 28 percent.
 
Obama gives 2 billion in tax dollars to a Brazilian oil company for off shore drilling, the same company that just happens to be Soros' largest investment, and nary a word? If Bush had loaned an oil company 2 billion dollars it would be front page news, the environmentalists would be lamenting about how he was helping to destroy the planet with our tax dollars, how they were all filthy, greedy pigs. And of course if it had happened to help out one of his biggest supporters, corruption would be screamed from the roof tops. But, Obama does it, and everything's cool. Gotta love it.
 
What does it matter? The media and the lefties don't give a damn about what he does, he can do anything, and it would never be questioned. 2 Billion to a foreign oil company who Soros just happened to heavilty invest in earlier this year and not a peep out of any of them.
 
I find it ironic these fucking idiots won't drill off their own shores, and reap all the economic benefits from it, but are all to willing to send 2Billion taxpayer dollars to a buddy to do it in another country. Does that make any sense at all?
 
Why do you think this is a payback for Soros? Lots of smart people own PetroBras. It is a good operating company and is one of the few large oil companies with a significant growth profile.

If you want exposure to emerging markets and oil, PetroBras is probably your single best option.
 
Why do you think this is a payback for Soros? Lots of smart people own PetroBras. It is a good operating company and is one of the few large oil companies with a significant growth profile.

If you want exposure to emerging markets and oil, PetroBras is probably your single best option.

He thinks this because George Soros is still a boogeyman to conspiracy theorists. So if he just happens to be one of many who won stock in this company, then it must mean the Prez is paying Soros back for whatever evil deeds he did in the Prez's favor cons believe he's guilty of.
 
Suppose we took Soros out of the conversation for a minute. How do you guys feel about $2 billion in taxpayer dollars spent drilling in Brazil, but not in Alaska.

I read something today about the Russians possibly drilling 35 miles off Key West. Anyone have a problem with that?
 
Why do you think this is a payback for Soros? Lots of smart people own PetroBras. It is a good operating company and is one of the few large oil companies with a significant growth profile.

If you want exposure to emerging markets and oil, PetroBras is probably your single best option.

He thinks this because George Soros is still a boogeyman to conspiracy theorists. So if he just happens to be one of many who won stock in this company, then it must mean the Prez is paying Soros back for whatever evil deeds he did in the Prez's favor cons believe he's guilty of.
Yes, so its just coincedence that Soros's LARGEST holding gets thrown this bone backed by taxpayer dollars that Obama refuses to allow in the USA. :cuckoo:
 
Why do you think this is a payback for Soros? Lots of smart people own PetroBras. It is a good operating company and is one of the few large oil companies with a significant growth profile.

If you want exposure to emerging markets and oil, PetroBras is probably your single best option.

He thinks this because George Soros is still a boogeyman to conspiracy theorists. So if he just happens to be one of many who won stock in this company, then it must mean the Prez is paying Soros back for whatever evil deeds he did in the Prez's favor cons believe he's guilty of.
Yes, so its just coincedence that Soros's LARGEST holding gets thrown this bone backed by taxpayer dollars that Obama refuses to allow in the USA. :cuckoo:

Probably.

Total liabilities and shareholders' equity of PetroBras is $156 billion.

http://petrobrasri.infoinvest.com.br/modulos/balancos_interativos.asp?area=&codcvm=009512

So $2 billion isn't much relative to the balance sheet and wouldn't move the stock.

Don't know why we are funding offshore drilling in Brazil, but funding a Soros investment isn't the reason. It probably has something to do with the bank's mandate to lend abroad in third world countries.
 
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The U.S. is going to lend billions of dollars to Brazil's state-owned oil company, Petrobras

Cool, as long as it's not in my back yard.
And while we're at it let's give them more money to cut down the rain forest, we could use the wood.
 
one of many who won stock in this company
How did they win it? And how many won, and how come we didn't get to play for it?:razz:

But seriously, isn't Brazil the model for getting off oil? They have that "great" sugar beet to ethanol program!

Why are we giving them 2 BILLION dollars when we have starving people in America?
 
one of many who won stock in this company
How did they win it? And how many won, and how come we didn't get to play for it?:razz:

But seriously, isn't Brazil the model for getting off oil? They have that "great" sugar beet to ethanol program!

Why are we giving them 2 BILLION dollars when we have starving people in America?


I wondered the same thing about ethanol as well, apparently it's not as good as what it has been described to be.

I think it's hilarious that Obama, who has said numerous times that he is against drilling, authorizes a loan of 2 billion to a Brazilion oil company, but no one can really explain why. Then when you have an obvious reason, payback to one of his biggest contributors, it's all a conspiracy. I just love how his supporters have to bend over and kiss their own asses in order to rationalize everything he does.
 
one of many who won stock in this company
How did they win it? And how many won, and how come we didn't get to play for it?:razz:

But seriously, isn't Brazil the model for getting off oil? They have that "great" sugar beet to ethanol program!

Why are we giving them 2 BILLION dollars when we have starving people in America?


I wondered the same thing about ethanol as well, apparently it's not as good as what it has been described to be.
It takes ALOT of water to make the shit. 1200 gallons for every gallon of ethanol.
I think it's hilarious that Obama, who has said numerous times that he is against drilling, authorizes a loan of 2 billion to a Brazilion oil company, but no one can really explain why. Then when you have an obvious reason, payback to one of his biggest contributors, it's all a conspiracy. I just love how his supporters have to bend over and kiss their own asses in order to rationalize everything he does.
:eusa_whistle:

Or, they simply ignore it.
 
Any person who defends this on top of every thing else Obama has done are without a doubt the biggest kool aid drinker in the world and or a true enemy of the state.

Put this on any other president and they would be rioting in the streets but yet they sit here and defend it.

INCREDIBLE!
 

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