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U.S. Backs $1B Loan to Mexico for Oil Drilling Despite Obama Moratorium
FoxNews.com ^ | September 11, 2010

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 ...


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To: oceanagirl

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


21 posted on 09/12/2010 6:48:34 AM PDT by Dubya-M-DeesWent2SyriaStupid!
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To: ozzymandus

Obama did.

Chavez Formalizes Seizure of US-Owned Oil Rigs

http://abcnews.go.com/Business/wireStory?id=11069016


22 posted on 09/12/2010 6:52:29 AM PDT by Dubya-M-DeesWent2SyriaStupid!
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To: SonOfDarkSkies

WTF?!?!?

We could have put that billion to FAR better use here. Hell, $500,000 would have went a long way with me!


23 posted on 09/12/2010 7:15:17 AM PDT by KoRn (Department of Homeland Security, Certified - "Right Wing Extremist")
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To: SonOfDarkSkies

Why is this not on Fox?


24 posted on 09/12/2010 7:25:22 AM PDT by my small voice (A biased media and an uneducated public is the biggest threat to our democracy)
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To: my small voice

Fox is the source of this article.


25 posted on 09/12/2010 7:31:51 AM PDT by SonOfDarkSkies (This year, Christmas is coming in November!)
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To: NoLibZone
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?

26 posted on 09/12/2010 7:33:29 AM PDT by The Theophilus
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To: SonOfDarkSkies

November, Baby, November.


27 posted on 09/12/2010 7:50:26 AM PDT by BAW ( I like long walks, especially when they are taken by people who annoy me.)
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To: SonOfDarkSkies
Rotten to the point of being bizarre! And not just bizarre...parallel universe bizarre!

You misspelled perpendicular.

28 posted on 09/12/2010 7:51:21 AM PDT by savedbygrace (Rev 22:20 He which testifieth these things saith, Surely I come quickly. Amen. Even so, come, Lord)
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To: oceanagirl
 
 
The Mexican government takes the profits from Pemex to run the government and social programs.
 
And Pemex bigwigs take, ahem, "cuts" to run their very own programs of personal wealth enhancement. No telling how much of this is going straight into someone's pockets.
 
 
 
They have their money invested in safe projects in safe countries.
 
Like investments such as real estate on this side of the border (think Kingswood, Texas), though they probably aren't shuffling luggage full of US cash across the border with merry abandon like they used to - such a method is too overt and risky these days and has been for a while. Unless of course it's via "diplomatic vouchers" - ever notice how many Mexican "diplomats" there are running around over here for such a "friendly" neighboring country? I don't think I could locate a Canadian diplomat if I looked. You can get your ill gotten gains "vouchered" by Mexican diplomats - for a piece of the action fee of course.
 
 

29 posted on 09/12/2010 8:20:42 AM PDT by lapsus calami (What's that stink? Code Pink ! ! And their buddy Murtha, too!)
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To: SonOfDarkSkies

OBAMA HATES AMERICA DEL NORTE! Get it through your thick heads.


30 posted on 09/12/2010 2:25:07 PM PDT by Don Corleone ("Oil the gun..eat the cannolis. Take it to the Mattress.")
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To: SonOfDarkSkies

Hahaha! Well, maybe I should read a bit closer. Thanks!


31 posted on 09/12/2010 3:33:56 PM PDT by my small voice (A biased media and an uneducated public is the biggest threat to our democracy)
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To: SonOfDarkSkies
What moratorium are you talking about?

Imam Ubama never announced a moratorium on Mexican oil drilling.

32 posted on 09/12/2010 3:50:59 PM PDT by Texas Eagle (If it wasn't for double-standards, Liberals would have no standards at all. -- Texas Eagle)
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To: Texas Eagle
LOL...right you are.

He just issued a moratorium on gringo drilling in El golfo de México.

33 posted on 09/12/2010 5:08:31 PM PDT by SonOfDarkSkies (This year, Christmas is coming in November!)
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To: my small voice
Don't let it slow you down! I scan stuff so fast that I regularly miss the details.

Obama has crap coming at us so fast that we have to approach 'light speed' to stay abreast.

34 posted on 09/12/2010 5:11:04 PM PDT by SonOfDarkSkies (This year, Christmas is coming in November!)
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To: Hattie

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.


35 posted on 09/12/2010 5:15:34 PM PDT by watchdogmom
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To: SonOfDarkSkies

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.


36 posted on 09/12/2010 5:23:34 PM PDT by Dubya-M-DeesWent2SyriaStupid!
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To: watchdogmom; Nachum; 444Flyer; SunkenCiv

MUST READ

How Obama Thinks

http://www.forbes.com/forbes/2010/0927/politics-socialism-capitalism-private-enterprises-obama-business-problem.html

http://www.forbes.com/lists/2009/20/power-09_Barack-Obama_FIUY.html


37 posted on 09/12/2010 5:30:46 PM PDT by Dubya-M-DeesWent2SyriaStupid!
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To: SonOfDarkSkies

U.S. paying millions to fund mosques around world
State Department lists 29 projects under ‘cultural preservation


38 posted on 09/12/2010 6:19:25 PM PDT by goldendays (that)
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To: The Theophilus

Ditto. We’ll find out what the charges and verdict were, after the severest possible sentence (life, in a cell with Al Gore).


39 posted on 09/12/2010 6:23:44 PM PDT by rfp1234
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To: SonOfDarkSkies

Obama Funds Pal Soros’ Oil Drilling – at Petrobras
http://porcupinerim.wordpress.com/2009/09/07/obama-funds-pal-soros-oil-drilling-at-petrobras/


40 posted on 09/12/2010 6:24:17 PM PDT by goldendays (that)
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