Obama Underwrites Offshore Drilling
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.
http://online.wsj.com/article/SB10001424…
Soros hedge fund invests $811m to buy Petrobras stake
August 15, 2008
London: Billionaire investor George Soros bought an $811 million stake in Petroleo Brasileiro (Petrobras) in the second quarter, making the Brazilian state-controlled oil company his investment fund’s largest holding.
As of June 30, the stake in Petrobras, as the Rio de Janeiro-based oil producer is known, made up 22 per cent of the $3.68 billion of stocks and American depositary receipts held by Soros Fund Management, according to a filing with the US Securities and Exchange Commission. Petrobras has since slumped 28 per cent…
In November, Petrobras announced the discovery of Tupi, a field with as much as 8 billion barrels of reserves, making it the largest find in the Americas since 1976.
“Petrobras has something that other oil companies don’t have: oil – lots of it and they’re going to find more,” said Ricardo Kob-ayashi, equity fund manager with UBS Pactual in Rio de Janeiro…
Tupi is part of a new deepwater offshore region known as the pre-salt that may contain as much as 50 billion barrels, according to Peter Wells, oil analyst with the UK’s Neftex Petroleum Consultants.
The drop in Petrobras’ US-traded common shares since June 30 would have reduced the value of Soros’s disclosed stake by $235 million.
Soros Fund Management didn’t report holding any Petrobras shares at the end of the first quarter. It did disclose much smaller stakes in the Brazilian oil company during 2007, including 150,000 depositary shares, with a market value of about $17.3 million at December 31.
The hedge fund company also had calls on another 35,000 shares at December 31…
http://sweetness-light.com/archive/soros…
In practice, this Barack Obama brainchild would serve as a permanent, taxpayer-backed pipeline to Democrat partisan outfits masquerading as public-interest do-gooders. This George Soros Slush Fund would be political payback in spades. Obama owes much of his Chicago political success to financial support from radical, left-wing billionaire and leading “social entrepreneur” Soros. In June 2004, Soros threw a big fund-raiser at his New York home for Obama’s Illinois Senate campaign. Soros and family personally chipped in $60,000. In April 2007, Obama was back in New York for a deep-pocketed Manhattan fund-raising soiree, with Soros lurking in his shadow (yes, that’s him behind Obama grasping onto the stairs).
http://michellemalkin.com/2008/08/20/the…
Ahhhhh no wonder Obama doesn't want ANYTHING to do with the Oil Spill, Obama will make millions off of Soros with his crooked scheme with Brazil using OUR tax dollars to fund it with.
Hows that Hope and Changey thingy going for you ???|||To make the silent leader of the Democratic party money. George Soros invested 900 million dollars in PetroBra. The 6 months moratorium for offshore drilling will send all the deep water rigs to Brazil to drill wells deeper than the one leaking now.
BHO owes George Soros and the tax-payer will pay him back|||The Ex-Im Bank is not part of the Obama Administration. The Ex-Im exists to provide loan guarantees so that other places can buy AMERICAN made goods and services. It is part of why there are so many US exports. Maybe if you actually understood the facts it would help.
These conspiracy theories are unreal. Soros will invest in anything that will generate a profit, as with many other billionaire investors. The more oil in the world the better, as that will bring the price down. I don't believe that Brazil is in OPEC, so that helps to keep them out, and OPEC is the agency that often sets the world oil price.|||YES I like brazil under our boot! muahahahaha muahahaha
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