Posted on 09/11/2010 1:38:23 PM PDT by SonOfDarkSkies
Despite President Obama's moratorium on U.S. deepwater drilling in the Gulf of Mexico, the U.S. Export-Import Bank intends to guarantee $1 billion in loans to PEMEX, the Mexican state oil company, to bolster the company's oil drilling in the region.
The bank, which is the official American export credit agency, loaned more than $1 billion to PEMEX in 2009 -- when the company was the bank's largest borrower -- in support of its drilling activities. That year, the bank also guaranteed two loans totaling $300 million made by a commercial lender.
The latest request comes during a drilling moratorium that was first imposed by Obama in May to find out what was the cause behind the April 20 Deepwater Horizon oil rig explosion killed 11 workers and led to 206 million gallons of oil spewing from BP's undersea well.
After a federal court struck down the ban amid complaints that it threatened thousands of jobs in the offshore oil industry , the Obama administration issued a new moratorium in July on most deep-water drilling activities that is in effect until Nov. 30.
The Export-Import Bank said the moratorium doesn't affect its pending deal with PEMEX.
"None of these projects involve deepwater drilling," bank spokeswoman Maura Policelli told FoxNews.com in an e-mail.
The $1 billion deal is awaiting approval by the bank's board, which is expected to reach a final decision by Sept. 30, the end of the fiscal year. Because the bank is an independent agency, the deal is not subject to congressional approval.
(Excerpt) Read more at foxnews.com ...
And Hussein gave how much to Soros’ oil drilling company??
Something is really rotten in Washington DC!
Rotten to the point of being bizarre! And not just bizarre...parallel universe bizarre!
And a previous 2 Billion from the Export/Import Bank to Lula’s commies in Brazil. (up to reports of 12 Billion)
U.S. EXPORTERS TO BENEFIT FROM A $2 BILLION EX-IM BANK PRELIMINARY COMMITMENT TO BRAZIL’S PETROBRAS (ala Soros)
MAY 7, 2009
http://www.exim.gov/pressrelease.cfm/1C3E8A59-FA74-F3CB-3F3E6E44E287C2DA/
WTF?? I mean, really, WTF?? Pemex(part of the Mexican government) has all the money in Mexico, and they need a billion US taxpayer dollars? Let’s give Hugo Chavez a billion, too.
I wonder how much Soros has invested in this one.
Why won’t anyone in the gop use the t word.
Why can’t somebody impeach this guy? This is our money, not his.
Obama heard that and nodded! And now it's payback time!
There is no longer any question about Obama destroying the US. Short of issuing an executive order to shoot every US citizen on sight, an order that would be 100% supported by every Dimocrap in Congress and touted by the MSM, how much of this can we accept?
There’s a JERK.
This makes two foreign companies OBama is propping up:
Soros’ Petrobras in Brazil and now Pemex.
Obama must be impeached. Then tried for treason.
The US has been loaning billions to PEMEX since 1998.
A requirement of the loans is that the money is used to buy from American oil field services companies.
It keeps lots of Americans in work.
How much of PEMEX does Soros own?
As a result Pemex can't do much without loans.
Notice that the loans aren't coming from the exceptionally wealthy Mexican ruling class. They have their money invested in safe projects in safe countries.
Their main field is collapsing, and the smaller fields aren't going to be able to make up the difference, at least not any time soon.
We import, or used to, something like a million barrels a day. That won't continue indefinitely, as their fields die and their country demands more oil.
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