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President Barack Obama has suffered the second embarrassment over oil imports within the space of a week. Brazil, whose offshore deposits of oil were sought by the Obama administration, has signed contracts with China for the product.
Quote:
Brazil's decision comes on the heels of Obama's refusal to permit the building of the Keystone XL pipeline to bring oil from Canada's tar sands in Alberta to Texas oil refineries, according to the Los Angeles Times. The decision was criticized by Republicans as well as union officials who point out that 20,000 jobs the pipeline would bring would therefore not be created.
1. China bailed out Petrobus, the largest oil company in Brazil a few years ago when the credit markets collapsed. So there is pre-existing ties there. China had already made about 10 billion in investments a few years back also.
2. Brazil is looking to expand refining capacity, by linking it with Venezuela, which is on very friendly terms with China, not so much with the US.
3. The United States is still one of the top three oil producing nations in the world.
4. This really only effects jobs here in the states, not the oil or the price of oil. American oil companies are going to lose out on contracts to drill for the oil. The oil itself will be sold on the world market, so it doesn't matter if the oil comes from Brazil, Saudi Arabia, or Topeka Kansas, its all going into the global price of oil.
Keystone will likely go through next year when they refile, after the election. Nothing has really been set back yet. The Obama administration blames the tight timeline that the Republicans pushed on him for the no decision. I think its all political, by both sides. The pipeline would have created maybe 20,000 jobs.
Right, right, no big deal, just move right along, nothing to see here. Will the obama supporters EVER find anything wrong with the disasters this POGarbage creates?
Wow, totally shocked the editors let that title go. Expect a revision soon.
Didn't obama send $3 billion to Brazil so we could be their bigggest and bestest customer?
Yes, I do recall a report that BO "invested?" at least a billion and it was with Petrobus. That name sounds familiar. In fact, he was willing to aid Brazil in "deepwater drilling" immediately after a supposed moratorium in our Gulf waters because of BP's deepwater drilling event. Guess that was his way of giving the Brits the finger, and showing favor to China and Petrobus.
I wonder about how our Communist prez feels about Texas and our latest Oil Boom. It's really "God Blessed Texas" time. Sing it with me?
Well at least we didn't bomb the country, take it over and then lose out to China (Iraq).
We just spent the money directly to buy friendship only China sent more
Well at least we didn't bomb the country, take it over and then lose out to China (Iraq).
We just spent the money directly to buy friendship only China sent more
Well we got our money from CHina to send to them too....
Yes, I do recall a report that BO "invested?" at least a billion and it was with Petrobus. That name sounds familiar. In fact, he was willing to aid Brazil in "deepwater drilling" immediately after a supposed moratorium in our Gulf waters because of BP's deepwater drilling event. Guess that was his way of giving the Brits the finger, and showing favor to China and Petrobus.
I wonder about how our Communist prez feels about Texas and our latest Oil Boom. It's really "God Blessed Texas" time. Sing it with me?
Rick Perry is your Governor, God blessed you with a fat turd there.
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Will the obama supporters EVER find anything wrong with the disasters this POGarbage creates?
