Answer the lady's question

Texas for Sarah Palin ^ | Thursday, August 20, 2009 at 12:01 AM | Josh Painter

[Josh Painter]

A spokesman for the Export-Import Bank has reacted via Politico to former Alaska governor Sarah Palin's Facebook op-ed which was critical of the bank's $2 billion loan to Brazilian oil company Petrobras.

Phil Cogan's arguments strike us nothing more than some fancy footwork intended to divert attention away from the fact that neither he nor anyone representing President Obama has answered Palin's question:

"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 two billion of your hard-earned tax dollars to Brazil...?"

Petrobras, which is owned by Brazil's government, has had its share of low earnings during the lean months most of the world's other oil companies have experienced due to low prices for crude. But the company, in a recent report by Zack's, an investment research firm, should see its earnings increase in the medium term. And with Latin America's largest economy, Brazil, according to Reuters, appears headed for recovery. So why does it need our money?

A recent IBD editorial lists several reasons, some of them political, why the loan doesn't seem like such a bad idea to the editors. But none of the arguments on either side of the issue can be evaluated until Sarah Palin's question is answered. In fact, the IBD editorial poses essentially the same query:

"If lending money to Brazil for oil is a good idea, isn't freeing our own companies to develop America's vast reserves an even better one?"

So it would be helpful if the Obama administration would answer it instead of taking cheap shots at Palin like this footnote to the Politico piece:

"This is like her and her death panels," the official said.

That doesn't answer the lady's question. But clearly that wasn't the intent of the anonymous White House source who planted it  in Politico's fertile dirt.

While we're waiting on an answer to Sarah Palin's question, we have one of our own. If this loan, from one leftist government to another, is simply an attempt to purchase political goodwill from the Brazilians, why doesn't the Obama Administration just stand up and say so?

- JP

[Josh Painter]

[Loud Mime]

Isn’t some money going to Brazil for a GM plant as well?

[imfrmdixie]

Guess who is a huge investor in Petrobras...none other than good ole George Soros....so, why wouldn’t Obama give mega bucks to them?

[Loud Mime]

Here we go:

http://www.leftlanenews.com/gm-spending-1b-on-brazilian-operations.html

GM spending $1B on Brazilian Operations
by Drew Johnson

Just days after its emergence from Chapter 11 bankruptcy, General Motors has announced it will be investing more than $1 billion in its Brazilian operations. GM will invest the money over the next three years to develop a new family of vehicles.

In all, GM will invest $1.02 billion in Brazil, with the majority of that funding going towards updating its Gravatai plant in Rio Grande do Sul. The Gravatai plant will be expanded to increase overall capacity. The updates are expected to be completed by 2012, according to Automotive News.

GM gave little in the way of details on the new family of vehicles, but the new lineup is being designed for the entire South American market. New small cars are likely on the docket, as well as more rugged vehicles to traverse some of South America’s more difficult terrains.

[Josh Painter]

According to Carlos Echevarria:

“But there is a more fundamental question here.

Pres. Lula da Silva, a leftist, went center right in his first term, was re-elected in ‘06 but has now gone hard left again and is a de facto member of the ALBA, friendly with both Venezuela and Cuba.

His corrupt government is seeking the election of his chief of staff next year, an erstwhile guerrilla fighter, Dilma Roussef...

Moreover, the Brazilians with Chinese and Indian support are even proposing a new intl currency to substitute the US dollar as the currency of preference.....

Brazilian armed forces in the Amazaon are already making direct threats and using caustic, belligerent rhetoric against any US personnel that will be stationed in Colombia, under the bases accord.

Why doesn’t Lula ask his partner in crime Hugo Chavez for the 2 billion????????????? or the Chinese? or the Russians?

Palin is totally right on the underlying political issue but this even transcends the political discussion of energy.

But what is to be expected from this new regime in DC?”

- JP

[convertedtoreason]

POLITICO IS ALL ABOUT CHEAP POLITICAL SHOTS.

THE QUESTION IS REALLY THE HYPOCRISY OF THE ADMINISTRATION VIA CLIMATE CHANGE VS. OIL.

FREE UP ALL OIL DRILLING DEVELOPERS IN AMERICA!

LET THE PRIVATE SECTOR DO ITS WORK!