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View Full Version : Obama Admin to Finance Offshore Oil Drilling


tommieharris91
8/18/2009, 05:31 PM
...off of Brazil's coast.

http://online.wsj.com/article/SB10001424052970203863204574346610120524166.html
delhalew
8/18/2009, 05:33 PM
Dammit, for a moment I allowed myself to believe he intended on doing something to help American citizens. Disgusting.
boomerinhou
8/18/2009, 05:43 PM
...off of Brazil's coast.

http://online.wsj.com/article/SB10001424052970203863204574346610120524166.html


....uh, but where is the money coming from??? Oh, yes...all of that unused stimulas money, of course. You see, it still will be used for "stimulating the economy"...it just won't be used for OUR economy!!!


:mad:
Petro-Sooner
8/18/2009, 06:50 PM
Our "leader" is a piece of work! :mad:
landrun
8/18/2009, 06:57 PM
I'm not trying to be contentious here. But would someone on the left please explain the logic of this to me. :confused:
Crucifax Autumn
8/18/2009, 07:00 PM
Trickle North Economics?
OklahomaTuba
8/19/2009, 08:55 AM
Well, since we are so flush with cash these days...

On a side note, I stand to make some good money off this as Petrobras is a big customer. So I would like to thank you Mr. President. Although it would be a lot easier to just let us drill here, but whatever.
NormanPride
8/19/2009, 10:15 AM
The only thing I can think of is that he's trying to create some real competition for OPEC. Funding them would both give them the funds to develop their industry, and hopefully be a bargaining chip in future negotiations.

Either way I think it's a ridiculous idea.
Veritas
8/19/2009, 10:17 AM
Leader leader leader leader leader leader LEADER!!! /homersimpson
Chuck Bao
8/19/2009, 10:47 AM
It will be in the form of a loan or bank guarantees from the Ex-Im Bank. The stimpulation of the loan will be that US oilfield equipment manufacturers sell all of the equipment to the project and create jobs in the US. That is what the Ex-Im Bank does. I don't think it has anything to do with US policy on offshore drilling in other countries or our own country.
tommieharris91
8/19/2009, 10:55 AM
The only thing I can think of is that he's trying to create some real competition for OPEC. Funding them would both give them the funds to develop their industry, and hopefully be a bargaining chip in future negotiations.

Either way I think it's a ridiculous idea.

That would be great, except Brazil is an OPEC country.
NormanPride
8/19/2009, 11:00 AM
Well, there you go. Chuck says it creates jobs in the US and stimulates the oil business here indirectly, so I guess I don't care anymore.
badger
8/19/2009, 11:44 AM
Leader leader leader leader leader leader LEADER!!! /homersimpson

I give you a C- on your ability to quote the Simpsons. The REAL quote "Na na na na na na na na LEA-DER!"

as in... "Na na na na na na na na FISH-ING!"

;)
OklahomaTuba
8/19/2009, 01:49 PM
It will be in the form of a loan or bank guarantees from the Ex-Im Bank. The stimpulation of the loan will be that US oilfield equipment manufacturers sell all of the equipment to the project and create jobs in the US. That is what the Ex-Im Bank does. I don't think it has anything to do with US policy on offshore drilling in other countries or our own country.Of course, if Dear Leader would allow us to drill here in our country, it would not only create jobs for US oilfield equipment companies, but also provide much needed money to the states to keep from laying off teachers, cops, janitors, etc.

And it could probably pay for a national healthcare program even.

Taxes & fees from exploiting the marcellus shale alone could probably fund about 3-6 months of Obama's drunken spending habits.
soonerboomer93
8/19/2009, 10:47 PM
It will be in the form of a loan or bank guarantees from the Ex-Im Bank. The stimpulation of the loan will be that US oilfield equipment manufacturers sell all of the equipment to the project and create jobs in the US. That is what the Ex-Im Bank does. I don't think it has anything to do with US policy on offshore drilling in other countries or our own country.

Brazil has some pretty stiff regulations on:

Importation of labor
% of Local built equipment

However, there are some big players in the field. Petrobras expects to spend about $100 mil a day for the next 10 years on those fields. That's a lot of oil, and natural gas.

There's an off chance I'll be going down there soon.
Bourbon St Sooner
8/20/2009, 11:34 AM
Let's be real. It's actually the Chinese loaning the money. I'm sure the Chinese view this as a better use of their funds than cash for clunkers.
Bourbon St Sooner
8/20/2009, 11:36 AM
That would be great, except Brazil is an OPEC country.

Actually, Brazil is not an OPEC country.....yet.
landrun
8/20/2009, 11:51 AM
Let's be real. It's actually the Chinese loaning the money. I'm sure the Chinese view this as a better use of their funds than cash for clunkers.

So true.

And Obama's appeal to the ignorant saying that we can afford nationalized health care because "we're the richest company in the world" flies in the face of the fact that the greatest debtor nation in the world has no money to spend on socialized health care or lend to other countries.

The most truthful thing Obama has said since being elected to office is "We're out of money."
landrun
8/20/2009, 12:17 PM
This explains the madness...

Obama is paying Soros for financing democrat campaigns.

To me, this should be criminal. Both of these guys are SCUM.



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.


http://www.bloomberg.com/apps/news?pid=20601086&sid=aFHPjfeUvtl8