Found here:
Indie June 22nd, 2010 at 5:33 am
True free market captialists have no problem with BP going bankrupt.
They should not be rewarded for their negligence, mismanagment and extraordinary risk-taking.
But while the left is busy with BP and hailing the moratorium on off-shore drilling, the Obama administration’s odious brand of ‘crony capitalism’ is alive and well.
The President said after his meetings with BP execs, “BP is a strong and viable company and it is in all of our best interests to see that it remain so.”
In light of the revelations in the report above why would Obama ever say such a thing?
Could it be that several insider fatcats and corporate tools like John and Tony Podesta have enriched themselves greatly from their connections to BP?
Just think of the money BP will have to spend on PR campaigns to salvage it’s image and the lobbyting it still needs to do to get it’s ‘cap and trade’ legislation passed.
*** Reuters is reporting that Brazil stands to benefit from the BP oil spill catastrophe as the US moratorium makes more rigs available for other countries. ***
Even as an ecological catastrophe makes the future of U.S. offshore drilling less certain, Brazil is plowing ahead with a $220 billion five-year plan to tap oil fields even deeper than BP’s ill-fated Gulf well.
Thirty-five rigs are now idle in the Gulf and more US jobs are being lost.
Recently, a $2b loan is being made by the Export-Import Bank specifically to finance purchase by Petrobras of U.S.-made oilfield equipment and services.
Uber-capitalist and prominent Dem backer George Soros is a major investor in Petrobras.
The left is sooo easily distracted and whipped up into an anti-BP frenzy that it cannot see the high stakes cronyism, corrupt wheeling and dealing that serves to benefit Obama’s political cabal.
Obama has no desire to nationalize the oil industry, he simply wants to exploit it for the benefit of those who “brought him to the dance.”
Not listening live, listen to replay at 12 noon Pacific
So sorry if off topic
***
Changes Proposed to Benefit State’s Oil Giant in Brazil
http://www.nytimes.com/2009/09/01/world/americas/01webbrazil.html
Published: August 31, 2009
RIO DE JANEIRO — The Brazilian government proposed changes to existing laws on Monday to assign the primary role of developing key deep-sea oil reserves to the state-run energy giant, Petrobras, at the expense of foreign rivals.
[....]
The proposal, which needs congressional approval, would confine foreign companies to mostly subservient roles to Petrobras and a new state-owned oil company still to be created.
Brazil currently awards exploration and production concessions through bidding, which is open to foreign companies.
While existing concessions in the “pre-salt” area would be maintained, the remaining 72 percent of the subsalt acreage still to be explored, more than 41,000 square miles, would be left in government hands, to be developed by Petrobras, said the presidential chief of staff, Dilma Rousseff.
Production-sharing contracts would be granted to the companies offering the Brazilian government the largest portion of the profits.
(The question remains why are American taxpayers footing the bill for a competitor? Or guaranteeing loans for a COMPETITOR? Obama knows that once these jobs vanish they’re not coming back. And who stands to profit? George Soros and other Obama cronies. “Crony capitalism” is fast becoming the phrase which best describes the Obama presidency.)