Free Republic

President Obama has opposed any expanded oil drilling off American shores largely on environmental grounds, turning a deaf ear to conservative cries of "Drill, Baby, Drill." But now Obama may start hearing cries of "foul" after the U.S. Export-Import Bank promised Petrobras, Brazil's state-owned oil company, $2 billion in loan guarantees to help finance lucrative drilling off the shores of Rio De Janeiro. Some see a contradiction in an executive branch agency, independent but with board members appointed by the president, facilitating abroad the very kind of energy exploration Obama opposes domestically.