Obama Underwrites Offshore Drilling

[Peter Pan]

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

President Obama Finances Offshore Drilling in Brazil - WSJ.com (http://online.wsj.com/article/SB10001424052970203863204574346610120524166.html)

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.

We need this in our country not with my $$ in another country that will then want to sell us there oil, again another example of a waste of the 53% of Americans who pay taxes to fund foregin business when we need jobs in America:cheers:

[Z06PDQ]

Leaking Oil Well Lacked Safeguard Device - WSJ.com (http://online.wsj.com/article/SB10001424052748704423504575212031417936798.html)

[ChasC5]

DRILL BABY DRILL … ! :lolsmile:

[Peter Pan]

Leaking Oil Well Lacked Safeguard Device - WSJ.com (http://online.wsj.com/article/SB10001424052748704423504575212031417936798.html)

Your point is? Seems this drilling was done under Obama, they failed here:cheers:

DRILL BABY DRILL … ! :lolsmile:

Yes we need to drill baby drill with our $$ in America and the world can fund there own drilling:cheers:

[ChasC5]

Your point is? Seems this drilling was done under Obama, they failed here:cheers:



Yes we need to drill baby drill with our $$ in America and the world can fund there own drilling:cheers:

The Oil being drilled belongs to the company drilling. The Oil then gets sold in the open market.

At no point does the Oil becomes American Property until an American Company actually purchases the Oil. :yesnod:

[Peter Pan]

The Oil being drilled belongs to the company drilling. The Oil then gets sold in the open market.

At no point does the Oil becomes American Property until an American Company actually purchases the Oil. :yesnod:

Hugo Chavez comes to mind, nationalize the oil compaines and presto you own the oil and we buy from him as he has it and we need it:cheers:

[Z06PDQ]

Your point is? Seems this drilling was done under Obama, they failed here:cheers:

my point is acoustic regulator switches are mandated by law in Brazil

Yes we need to drill baby drill with our $$ in America and the world can fund there own drilling:cheers:

we are "drilling,baby,drill....where the hell you been? :lol:

[Peter Pan]

we are "drilling,baby,drill....where the hell you been? :lol:

WTF is your point here

[Z06PDQ]

WTF is your point here

are you trying to say we haven't been drilling? what is YOUR point? my point is acoustic regulator switches will insure we don't waste any more billions on spills.

[Peter Pan]

are you trying to say we haven't been drilling? what is YOUR point?

Yes we are drilling, but there are lots of oil in Alaska (other places in America as well), eaiser to get to than 1 mile deep and the Green Weanies are against this, so we sufer a blowout 1 mile deep that maybe a nuke would fix the blowout (not)

[Z06PDQ]

Yes we are drilling, but there are lots of oil in Alaska (other places in America as well), eaiser to get to than 1 mile deep and the Green Weanies are against this, so we sufer a blowout 1 mile deep that maybe a nuke would fix the blowout (not)

we didn't have to have a blowout. acoustic switches would have prevented one. you want to let these bastards ruin the last wilderness we have because they have proven their disregard for our environment? not me. I know we need the oil, but they are going to have to prove they are responsible before we give up our last wilderness.

[Peter Pan]

we didn't have to have a blowout. acoustic switches would have prevented one. you want to let these bastards ruin the last wilderness we have because they have proven their disregard for our environment? not me. I know we need the oil, but they are going to have to prove they are responsible before we give up our last wilderness.

On land we can stop this type of blowout, a mile down is different. If they were supposed to have the acoustic switches this was drilled under Obama, his fault they did not find this when inspecting the rig and stopped them in there tracks:cheers:

[Z06PDQ]

On land we can stop this type of blowout, a mile down is different. If they were supposed to have the acoustic switches this was drilled under Obama, his fault they did not find this when inspecting the rig and stopped them in there tracks:cheers:

so Obama is a rig inspector now? :lol: you funny funny man. :lolsmile:

[Peter Pan]

so Obama is a rig inspector now? :lol: you funny funny man. :lolsmile:

No, but he is the CEO of the federal agenices (and all of America) responsible for not doing there job, and yes he is the man in charge of the situation, ask him, so he is responsible for his agencies prior to the blow out:dance:

[Z06PDQ]

No, but he is the CEO of the federal agenices (and all of America) responsible for not doing there job, and yes he is the man in charge of the situation, ask him, so he is responsible for his agencies prior to the blow out:dance:

he has taken a pro active approach to trying to police the industry after Cheney knocked all the stops out. have you forgotten that MMS employees were having sex & doing drugs with oil industry people under Bush/Cheney? how can you possibly try to lay the blame at his feet?

[Peter Pan]

he has taken a pro active approach to trying to police the industry after Cheney knocked all the stops out. have you forgotten that MMS employees were having sex & doing drugs with oil industry people under Bush/Cheney? how can you possibly try to lay the blame at his feet?

The blame is his, those in the MMS are his employees, 18 months ago he took office and they inspected the rig or lack of, he is the CEO of this now, not the last president:cheers:

[Z06PDQ]

The blame is his, those in the MMS are his employees, 18 months ago he took office and they inspected the rig or lack of, he is the CEO of this now, not the last president:cheers:

you're wrong & you know it. this is just more of the albatross around our neck that was the Bush/Cheney administration.

[Peter Pan]

you're wrong & you know it. this is just more of the albatross around our neck that was the Bush/Cheney administration.

I am not wrong here, I learned this in the military, when you are in charge when something goes wrong the person in charge is responsible. We did not have 18 months to do things in battle, they happened now. He had 18 months and did not change his agencies or had the oversight on them, hind sight in the civilan world is great, we were not allowed this in the military. I am right and you are wrong the CEO is responsible and has no clue on running our country, get off blaming everything that is wrong in America on the last Adminstration, remember since 2007 the libs have controlled congress:cheers:

[Z06PDQ]

I am not wrong here, I learned this in the military, when you are in charge when something goes wrong the person in charge is responsible. We did not have 18 months to do things in battle, they happened now. He had 18 months and did not change his agencies or had the oversight on them, hind sight in the civilan world is great, we were not allowed this in the military. I am right and you are wrong the CEO is responsible and has no clue on running our country, get off blaming everything that is wrong in America on the last Adminstration, remember since 2007 the libs have controlled congress:cheers:

let me help you out here. these blatant safety violations were carried out by BP. Obama didn't approve it. MMS didn't have a clear understanding of the REPEATED ignoring of red flags that constantly popped up on the Horizon well. DRILL BABY DRILL mentality has brought the chickens home to roost. you can't lay this off on the green weenies,Obama or anyone else. you also can't change 8 years of **** ups in 18 months.

[Peter Pan]

let me help you out here. these blatant safety violations were carried out by BP. Obama didn't approve it. MMS didn't have a clear understanding of the REPEATED ignoring of red flags that constantly popped up on the Horizon well. DRILL BABY DRILL mentality has brought the chickens home to roost. you can't lay this off on the green weenies,Obama or anyone else. you also can't change 8 years of **** ups in 18 months.

Last time I looked the MMS works for the (Federal Govt) president and if BP had these violations regardless if before Obama took over they continued under the great Messiah's rein and he is the one in charge and responsible for the performance of the current MMS not the last adminstration. So what you are really saying is the MMS a federal agency does not know what they are doing, just like the president and in 18 months it has gotten worse and we are at the tip of the iceberg here

[Y2Kvert4me]

Americans are right to wonder why Mr. Obama is underwriting in Brazil what he won't allow at home.

We need this in our country not with my $$ in another country that will then want to sell us there oil, again another example of a waste of the 53% of Americans who pay taxes to fund foregin business when we need jobs in America:cheers:Chances are this one of those same deals as the Bucyrus thread I posted.

These ExIm financing deals are contingent on using US produced equipment and products to make it happen. This does sustain and create jobs and production in the US, no matter where in the world the project is located.

The reality is the US really isn't out any money in doing these deals, you're certainly not sending your tax dollars overseas.

What deals like this are designed to do, is bring money into the country that offshore customers otherwise wouldn't have spent, or would have spent elsewhere in the world.

By arranging the financing, we entice them to do their business here, consume our products, and keep us employed and producing. Any side of the political spectrum can agree this process is a win-win deal for America (and has been for a long long time).


Think of it like this....if the Gov't offered creative financing options for those around the globe to entice otherwise "not interested" potential customers to buy American vehicles, you really need not care where those cars end up in the world. The fact we produced and sold the cars to someone that ordinarily wouldn't buy one is what matters.


I just don't see this as a topic of partisan debate. The rest of the world will continue building, digging, drilling, etc. with or without our assistance. How much of that big project money we can rope in is what matters, and is why we created the ExIm bank. If we don't grab that cash, someone else (China) will be more than happy to.


:cheers:

[Z06PDQ]

Chances are this one of those same deals as the Bucyrus thread I posted.

These ExIm financing deals are contingent on using US produced equipment and products to make it happen. This does sustain and create jobs and production in the US, no matter where in the world the project is located.

The reality is the US really isn't out any money in doing these deals, you're certainly not sending your tax dollars overseas.

What deals like this are designed to do, is bring money into the country that offshore customers otherwise wouldn't have spent, or would have spent elsewhere in the world.

By arranging the financing, we entice them to do their business here, consume our products, and keep us employed and producing. Any side of the political spectrum can agree this process is a win-win deal for America (and has been for a long long time).


Think of it like this....if the Gov't offered creative financing options for those around the globe to entice otherwise "not interested" potential customers to buy American vehicles, you really need not care where those cars end up in the world. The fact we produced and sold the cars to someone that ordinarily wouldn't buy one is what matters.


I just don't see this as a topic of partisan debate. The rest of the world will continue building, digging, drilling, etc. with or without our assistance. How much of that big project money we can rope in is what matters, and is why we created the ExIm bank. If we don't grab that cash, someone else (China) will be more than happy to.


:cheers:

kind of like using Americans to clean up the oil spill & create more jobs? :D

[Peter Pan]

Chances are this one of those same deals as the Bucyrus thread I posted.

These ExIm financing deals are contingent on using US produced equipment and products to make it happen. This does sustain and create jobs and production in the US, no matter where in the world the project is located.

The reality is the US really isn't out any money in doing these deals, you're certainly not sending your tax dollars overseas.

What deals like this are designed to do, is bring money into the country that offshore customers otherwise wouldn't have spent, or would have spent elsewhere in the world.

By arranging the financing, we entice them to do their business here, consume our products, and keep us employed and producing. Any side of the political spectrum can agree this process is a win-win deal for America (and has been for a long long time).


Think of it like this....if the Gov't offered creative financing options for those around the globe to entice otherwise "not interested" potential customers to buy American vehicles, you really need not care where those cars end up in the world. The fact we produced and sold the cars to someone that ordinarily wouldn't buy one is what matters.


I just don't see this as a topic of partisan debate. The rest of the world will continue building, digging, drilling, etc. with or without our assistance. How much of that big project money we can rope in is what matters, and is why we created the ExIm bank. If we don't grab that cash, someone else (China) will be more than happy to.


:cheers:

So with your point well taken, we should be drilling in Alaska, our own country and other places in our shallow waters in areas we do not do now and then I can see funding other countries a little eaiser, more American Jobs all the way around, get the green weanines out of the picture and we drill in our land do it else where and spills we do not worry about.

[Y2Kvert4me]

So with your point well taken, we should be drilling in Alaska, our own country and other places in our shallow waters in areas we do not do now and I'm not really up on the whole oil drilling thing.

I know the treehuggers always protest it, and is why we don't drill as much as we could be here.


But in the big picture, for what's claimed to be a finite resource, oil is still a cheap commodity. Does it not make sense to buy it from others while it is cheap, and when our suppliers start to dry up around the globe, rest on the comforting fact we have our own untapped source tucked away in our own basement, which will have certainly gone up in value, and could be a very valuable export product to US if/when that day comes?


Just a thought...

[Peter Pan]

I'm not really up on the whole oil drilling thing.

I know the treehuggers always protest it, and is why we don't drill as much as we could be here.


But in the big picture, for what's claimed to be a finite resource, oil is still a cheap commodity. Does it not make sense to buy it from others while it is cheap, and when our suppliers start to dry up around the globe, rest on the comforting fact we have our own untapped source tucked away in our own basement, which will have certainly gone up in value, and could be a very valuable export product to US if/when that day comes?


Just a thought...

No, Obama wants us to be green tomorrow, this will not happen, if we produce say 10 million more barrels a day of oil the world price would plumment, this would be good. Bye the time we go more green cost effective we will have eons of oil in the ground. I would rather pay Americans for oil than the terriosts that have us by the balls now. Drill in America and keep our $$ at home not abroad:cheers:

[Z06PDQ]

No, Obama wants us to be green tomorrow, this will not happen, if we produce say 10 million more barrels a day of oil the world price would plumment, this would be good. Bye the time we go more green cost effective we will have eons of oil in the ground. I would rather pay Americans for oil than the terriosts that have us by the balls now. Drill in America and keep our $$ at home not abroad:cheers:

I'll put you down as one of the people that believes oil is not a finite resource. :cheers:

[Peter Pan]

I'll put you down as one of the people that believes oil is not a finite resource. :cheers:

More oil to run the world's economy's than we have used to date and that is quite some time to get the green power going, atleast 100 years and longer for coal, oh build some more nuke plants while we are at it zero oil or coal or natural gas needed here and something like zero emissions:cheers:

[Z06PDQ]

More oil to run the world's economy's than we have used to date and that is quite some time to get the green power going, atleast 100 years and longer for coal, oh build some more nuke plants while we are at it zero oil or coal or natural gas needed here and something like zero emissions:cheers:

commas, punctuation...common sense. either that, or give us a clue what language you are using. :seeya: