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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.
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.
His New York-based hedge-fund firm, Soros Fund Management LLC, sold 22 million U.S.-listed common shares of Petrobras, as the Brazilian oil company is known, according to a filing today with the U.S. Securities and Exchange Commission. Soros bought 5.8 million of the company’s U.S.-traded preferred shares.
Now, isn't this a bit suspicious? Soros, the money-man behind obama's election, diving in right before obama makes a commitment like this?
Is there any chance that TOTUS and Soros the Pirate can be found guilty of insider trading? Nah, never mind, the liberal courts will turn the other way...
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Brazil to drill offshore
