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 ...
Obama’s Moratorium on Drilling a Boon to Brazil and Soros
http://beforeitsnews.com/story/78/199/Obamas_Moratorium_on_Drilling_a_Boon_to_Brazil_and_Soros.html
Obama did.
Chavez Formalizes Seizure of US-Owned Oil Rigs
http://abcnews.go.com/Business/wireStory?id=11069016
WTF?!?!?
We could have put that billion to FAR better use here. Hell, $500,000 would have went a long way with me!
Why is this not on Fox?
Fox is the source of this article.
Obama must be impeached. Then tried for treason.
Why not use the precedent of the last few unread multi-thousand page bills and just skip to executing the sentence. For like those previous bills, if we suspect any resistance on the verdict, we just deem the sentence as whatever we want. So why bother with procedure?
November, Baby, November.
You misspelled perpendicular.
OBAMA HATES AMERICA DEL NORTE! Get it through your thick heads.
Hahaha! Well, maybe I should read a bit closer. Thanks!
Imam Ubama never announced a moratorium on Mexican oil drilling.
He just issued a moratorium on gringo drilling in El golfo de México.
Obama has crap coming at us so fast that we have to approach 'light speed' to stay abreast.
You are right,he has spent our money just as fast as he can. the US can’t drill and become independant,but he can give our money to Mexico and Brazil,this guy is sooo incompetent. I want the taxpayers money BACK. to hell with the fraudulent government.
Yeah he is either a
radical, sociopath con artist, enemy within,
doing all of this purposefully with his other antichrist Soros to force global communism
or all of the above.
U.S. paying millions to fund mosques around world
State Department lists 29 projects under ‘cultural preservation
Ditto. We’ll find out what the charges and verdict were, after the severest possible sentence (life, in a cell with Al Gore).
Obama Funds Pal Soros’ Oil Drilling – at Petrobras
http://porcupinerim.wordpress.com/2009/09/07/obama-funds-pal-soros-oil-drilling-at-petrobras/
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