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Old 08-18-09, 06:03 PM   #1
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Obama Underwrites Offshore Drilling

What an asshole. People losing jobs everyday in this country and this dip stick subsidizes oil exploration, in Brazil, with 2 billion of our dollars. This is surreal.

Quote:
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.

President Obama Finances Offshore Drilling in Brazil - WSJ.com
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Old 08-18-09, 06:10 PM   #2
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Re: Obama Underwrites Offshore Drilling

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Originally Posted by apdst View Post
What an asshole. People losing jobs everyday in this country and this dip stick subsidizes oil exploration, in Brazil, with 2 billion of our dollars. This is surreal.
Someone needs to send this child to the romper room, he's like Dennis the Menace.
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Old 08-18-09, 06:11 PM   #3
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Re: Obama Underwrites Offshore Drilling

Please read the rules for the breaking news section. Opinion pieces do not belong here.
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Old 08-18-09, 06:17 PM   #4
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Re: Obama Underwrites Offshore Drilling

You must have caught some serious hell for posting on the wrong forum and that's why you're such a pain in the ass about little mistakes.
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Old 08-18-09, 06:21 PM   #5
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Re: Obama Underwrites Offshore Drilling

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Originally Posted by apdst View Post
What an asshole. People losing jobs everyday in this country and this dip stick subsidizes oil exploration, in Brazil, with 2 billion of our dollars. This is surreal.
It's a loan, not a grant, so I don't really have a beef with it in that way

It strikes me as odd, though. Is it unusual for the US gov to loan money to a private, foreign corporation? If it is (as I'd guess after my superficial look at the situation) what is the US getting out of the deal?
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Old 08-18-09, 06:24 PM   #6
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Re: Obama Underwrites Offshore Drilling

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Originally Posted by Kernel Sanders View Post
It's a loan, not a grant, so I don't really have a beef with it in that way

It strikes me as odd, though. Is it unusual for the US gov to loan money to a private, foreign corporation? If it is (as I'd guess after my superficial look at the situation) what is the US getting out of the deal?
Why not do the same for American oil companies and put Americans back to work?

Perhaps George Soros's ownership of 5.8 million shares of Petrobras has something to do with PBO giving them the jack?
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Old 08-18-09, 06:28 PM   #7
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Re: Obama Underwrites Offshore Drilling

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What an asshole. People losing jobs everyday in this country and this dip stick subsidizes oil exploration, in Brazil, with 2 billion of our dollars. This is surreal.
I'm sure Exxon Mobil a Dallas Texas based company loves this.
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Old 08-18-09, 06:30 PM   #8
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Re: Obama Underwrites Offshore Drilling

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Originally Posted by winston53660 View Post
I'm sure Exxon Mobil a Dallas Texas based company loves this.
How's that?
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Old 08-18-09, 06:44 PM   #9
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Re: Obama Underwrites Offshore Drilling

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Please read the rules for the breaking news section. Opinion pieces do not belong here.
I've copied this to Word pad and will post this on every new topic for you.
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Old 08-18-09, 07:02 PM   #10
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Re: Obama Underwrites Offshore Drilling

Judging by this article from May it sounds like he was trying to get a piece of the action.

China, Brazil Agree to $10 Billion Loan, Exploration (Update3) - Bloomberg.com

Sounds like China would like to get all of the Brazillian oil.
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