• In the Spotlight:
Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

Have YOU connected the dots?


Obama Underwrites Offshore Drilling
Too bad it's not in U.S. waters.
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.


Aug. 15 (Bloomberg) -- Billionaire investor George Soros bought an $811 million stake in Petroleo Brasileiro SA in the second quarter, making the Brazilian state-controlled oil company his investment fund's largest holding.

Answer Question

Asked by Anonymous at 11:55 AM on Jun. 15, 2010 in Politics & Current Events

Answers (7)
  • http://www.reuters.com/article/idUSN1115006620100611

    RIO DE JANEIRO, June 11 (Reuters) - Brazil could benefit
    from the BP Gulf of Mexico spill as a U.S. moratorium on
    offshore drilling boosts available rigs for the country's deep
    water oil exploration program.


    Answer by Anonymous at 11:55 AM on Jun. 15, 2010

  • Sorry, I don't understand the significance of this. Can someone explain?

    Answer by Anonymous at 12:01 PM on Jun. 15, 2010

  • ANOTHER example of how Obama is just a puppet for the REAL people pulling his strings and those responsible for his rapid ascension to the White House!  George Soros...he picks and "plays" with a country's finances for sport, and he's essentially the owner of the Democratic Party!  How does it feel to be OWNED...sheeple?!


    Answer by LoriKeet at 12:01 PM on Jun. 15, 2010

  • Yes I have, however it was GWB that began brokering the deal that was concieved by Cheney in 1984. Google the Middle East article he wrote.

    Answer by Anonymous at 12:08 PM on Jun. 15, 2010

  • Exactly. GWB and Cheney have been working together (Maybe with George Bush senior, the owner of Zapata Oil..) ...and Halliburton,the engineers who laid a cement plug in at the oil spill location in the Gulf that started the leak....it has been an unholy alliance since the 1980's. Google a few items.... Some of us have been connecting the dots for at least thirty years. This is nothing new......

    Answer by Anonymous at 12:16 PM on Jun. 15, 2010

  • Old news, no surprise there. Obama would throw this country under the bus if he thought it would be good for him.
    Obama never expected reaal oil exploration and mining to go on for long here. Even after "allowing" some drilling it was at the expense of other spots that we knew had an abundance of oil. What you don't know can't hurt you?

    For those who don't know, the floating rigs will pick up and go elsewhere if they are not allowed to be used here then if we are ever able to use them again they may not just come right back. After all, why should you do business here if it is more expensive than doing business elsewhere? No matter what happened in the past. This whole situation is a dream come true for Obama

    Answer by itsmesteph11 at 3:31 PM on Jun. 15, 2010

  • A moratorium on deep water drilling is commonsense until the technology and regulatory systems are such that we can be another catastrophe like the present one. will not happen. Obama is right, Steph, you will use anything to pillory him but I have never seen any criticism of the Bush/Cheney administration for letting Big Oil determine the regulatorysystem under which they operated. The sooner that marriage of covenience is stopped, the better and the President has taken the first steps in that direction . I hope their will be more.

    Answer by janet116 at 12:52 AM on Jun. 16, 2010

Join CafeMom now to contribute your answer and become part of our community. It's free and takes just a minute.