WSJ HEADLINE:
Obama Underwrites Offshore Drilling
The problem is the 2 billion in loans and/or loan guarantees are going to Petrobras, a Brazilian oil giant. Petrobras has discovered a vast oil field in the Atlantic Ocean that they plan to tap with no eco-guilt reservations whatsoever.
It is well known that the United States also has vast oil reserves on land and offshore but lawmakers have prohibited access to it for years. The President has made it clear he wants America to work towards a "green" energy infrastructure and is not in favor of domestic exploration/extraction. So why aid a foreign oil company while denying America access to its own resources? There are numerous advantages to domestic production, not the least of which is a lot of decent paying jobs for Americans, but also a huge step toward lessening dependence on the oil we have to have from unfriendly sources.
Is this man the President of the United States or not? Is he trying to hobble this country on purpose?
We all want to see the end of the oil age for all kinds of good reasons, but right now truly viable alternatives do not exist. Work should proceed with haste to develop new energy paradigms - but we should not upend our economy for windmills and pipe dreams.
Everyday I dislike this President more. These kind of headlines boil my blood.
CW
2 comments:
It's hard to bolster the efforts of those evil, profit generating, massive tax paying, oil companies and demonize them at the same time. “HE” could pull it off without too much difficulty though. His overtures of support could be more oblique while leaving the accusations of profiteering and price gouging to his cohorts in the congress and media etc...etc...
Very brazen. He counts on the skank media not looking very closely at the deal. Out of sight, out of mind.
BO wants to be a player on the Latin scene. And hey, it's not as if it's real money. At least not his money.
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