Obama Promotes Foreign Oil

Most Americans would like to see the United States become less dependent upon foreign oil.  This can be accomplished through the use of domestic drilling, offshore drilling in American waters, investments in biofuels, and the development of electric cars powered by clean safe nuclear power.

The Obama administration’s U.S. Export-Import Bank recently provided two billion dollars in loan guarantees to the Petrobas, a socialist oil company controlled by the Brazilian government. In addition, officials in the Brazilian government have leaked information regarding promises from the White House of up to $10B in future funding.

This bizarre move may be explained by large stock transfers done by Democratic financier George Soros shortly before the U.S. funding of Petrobas was announced publicly.  This may have simply been an vehicle for Obama to repay the funds Soros invested in his campaign.  Front Page Magazine investigated all the dirty details on that deal and published them in Obama’s Oil Man.

Sarah Palin asked the right question concerning this deal: “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?”

Oil exploration in the U.S. could create up to 160,000 jobs in the U.S. — jobs that are desperately needed since the Obama administrations mishandling of the economy has raised the unemployment rate to the highest levels in 26 years.  Instead, U.S. taxpayers are funding the creation of those jobs in Brazil.

It’s time for a public investigation into this culture of corruption which Mr. Obama has brought into our White House.  Payoffs like this are costing the American taxpayers hundreds of billions of dollars and hundreds of thousands of much needed jobs. The American people can’t afford to fund criminals with such endless greed for money and power — and they shouldn’t have to.