By Nancy K. Matthis | Wednesday, January 6th, 2010 at 4:45 pm
Obama is plunging the United States deeper into debt with China through reckless spending. He is preventing us from ending our dependence on foreign oil by opposing offshore drilling, ostensibly on environmental grounds.
Now he is using $2 billion of your taxpayer dollars to support Brazil’s state-owned oil company Petrobras in drilling for oil off the shores of Rio De Janeiro. The funding will take the form of loan guarantees from the US Export-Import Bank.
FOXNews notes the discrepancy:
Some see a contradiction in an executive branch agency … facilitating abroad the very kind of energy exploration Obama opposes domestically.
White House spokesman Robert Gibbs said Thursday he wasn’t prepared to address the issue.
“I have not seen the story,” he said. “I’d have to take a look.”
But former Alaska Gov. Sarah Palin, a vocal proponent of offshore drilling, had plenty to say.
“So why is it that during these tough times, when we have great needs at home, the Obama White House is prepared to send more than $2 billion of your hard-earned tax dollars to Brazil so that the nation’s state-owned oil company, Petrobas, can drill off shore and create jobs developing its own resources?” she asked….
And here’s the kicker. Where do you think all this newly developed oil will be going? To China. Plans were finalized last May, according to this article in China Daily:
Petrobras to increase oil exports to China
A long-term export agreement was also signed Tuesday between Petrobras and UNIPEC ASIA, a wholly-owned subsidiary of China Petroleum and Chemical Corporation (Sinopec), Asia’s largest refiner by output.
It provides that Petrobras export 150,000 barrels of oil per day to China starting from 2009 and 200,000 barrels of oil per day from 2010 to 2019….
Apart from the agreement, Petrobras and Sinopec signed a memorandum of understanding (MOU) under which the two sides would cooperate in several areas such as exploration, refining, petrochemicals and the supply of related goods and services, said Petrobras.
Sinopec announced in February that it has signed a contract with Petrobras to import 3 million to 5 million tons of crude oil from the latter from February 2009 to January 2010 at market price.
Also in February, Sinopec and CDB signed an MOU with Petrobras regarding cooperation in the fields of oil and finance.
According to the memorandum, the annual trade volume between Sinopec and Petrobras will be raised from 3 million tons in 2008 to between 10 million to 12.5 million tons before the end of 2010. Their future oil trading volume will reach 30 million tons.
It gets even worse, as far as the Obama “smell test” goes. According to Bloomberg, Obama puppet-master George Soros bought a hefty stake in Petrobras before the announcement:
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.
It is becoming abundantly clear that Obama is focused on a (likely Marxist) new world order, and does not have the best interests of the United States at heart. His gaze is fixed firmly into the future post-American world:
(October 18th, 2008) Although the mainstream media have been careful to mask Obama’s real agenda, it is clear that the Zakaria model is the way that he sees the world. If elected president, we could expect him to disarm the citizens, move our sovereign nation increasingly under the control of the United Nations, and “spread the wealth around” by diluting our hard-earned way of life to help bring up the third world.
Nancy Matthis is the publisher and executive editor of the weblog format news magazine and multimedia outlet American Daughter Media Center.
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Tags: $2 billion, Brazil, China, debt, dependence, export, exports, Foreign affairs, foreign oil, foreign policy, George Soros, hedge fund, investment fund, loan guarantees, Obama, offshore drilling, oil exports, oppose, opposing, Petrobras, Politics, post-American world, Rio De Janeiro, Robert Gibbs, Sarah Palin, Sinopec, taxpayer dollars, US Export-Import Bank, World affairs