Backstabbed by the POTUS

K

kudocuda

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This is a perfect example why I refrain from watching the news on ABC, NBC, CBS, or MSNBC. On a segment of the "Glen Beck Show" on FOX (Fox Cable News) was the following:

"Today, even though President Obama is against off shore drilling for our country, he signed an executive order to loan 2 billion of our taxpayers dollars to a Brazilian Oil Exploration Company (which is the 8th largest company in the entire world) to drill for oil off the coast of Brazil! The oil that comes from this operation is for the sole purpose and use of China and NOT THE USA !

Now here's the real clincher... The Chinese government is under contract to purchase all the oil that this oil field will produce, which is hundreds of millions of barrels of oil".

We have absolutely no gain from this transaction whatsoever!

Wait, it gets more interesting.

Guess who is the largest individual stockholder of this Brazilian Oil Company and who would benefit most from this?

It is American BILLIONAIRE, George Soros, who was one of President Obama's most generous financial supporters during his campaign.

If you are able to connect the dots and follow the money, you are probably as upset as I am. Not a word of this transaction was broadcast on any of the other news networks!

Pass this on to others who care about this country and where their tax dollars are going. Also, let all of our Government representatives know how you feel about this.
 
I like to do my own thinking with the facts. I don't like to depend on someone that is making money spreading distortion. Sometimes it is difficult with the facts.
Apparently Glen Beck failed to mention the part George Bush had in this, "In fact, at the time the Bank’s Board consisted of three Republicans and two Democrats, all of whom were appointed by George W. Bush."


Browse > Home / Ask FactCheck / Bogus Brazilian Oil Claims
Bogus Brazilian Oil Claims

September 18, 2009
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Q: Did Obama loan $2 billion to Brazil’s oil company to benefit China and George Soros?

A: The president had nothing to do with the loan, which the Export-Import Bank approved for Brazil to buy U.S.-made equipment and services.

FULL QUESTION

I received this in an e-mail. Is it true?

Today even though President Obama is against off shore drilling for oil for this country. He signed an executive order to loan 2 Billion of our taxpayers dollars to a Brazilian Oil Exploration Company (which is the 8th largest company in the entire world) to drill for oil off the coast of Brazil. The oil that comes from this operation is for the sole purpose and use of China and not the USA. The Chinese government is under contract to purchase all the oil that this oil field will produce, which is hundreds of millions of barrels of oil".

We have absolutely no gain from this transaction whatsoever.
⬐ Click to expand/collapse the full text ⬏
Wait it gets more interesting.

Guess who is the largest individual stockholder of this Brazilian Oil Company and who would benefit most from this? It is American Billionaire, George Soros, Liberal businessman who is a radical left wing supporter, finances MoveOn.org as well as other liberal programs and was President Obama’s largest and most generous supporter during his campaign. If you are able to connect the dots and follow the money, you are probably as upset as I am. Not a word of this transaction was on any of the other news networks.

FULL ANSWER

This claim stems from a "preliminary committment" made back on April 14 by the board of directors of the Export-Import Bank of the United States. The bank intends to loan up to $2 billion to finance exports to the Brazilian oil company Petróleo Brasileiro S.A., known as Petrobras, over the next several years.

The e-mail is false on two counts.

* The message falsely says the decision was due to an "executive order" by the president. No presidential order was required. Furthermore, none of President Obama’s appointees had joined the Ex-Im board at the time of the vote, which was unanimous, and bipartisan. The Ex-Im Bank states: "In fact, at the time the Bank’s Board consisted of three Republicans and two Democrats, all of whom were appointed by George W. Bush."
* The message falsely claims that "we have absolutely no gain" from the loan. In fact, the loan is being made specifically to finance purchase by Petrobras of U.S.-made oilfield equipment and services. The mission of the Ex-Im Bank is to encourage exports by making such loans.

The bank’s chairman and president, Fred P. Hochberg, underscored the purpose of the loan during a trip to Brazil at the end of July:


http://factcheck.org/2009/09/bogus-brazilian-oil-claims/
 
China Tuesday agreed to lend $10 billion to Brazil's state-owned oil giant in exchange for guaranteed oil supply from the South American country over the next decade.

Brazil's Petrobras and Sinopec, China's largest refiner, agreed that the former will supply 150,000 barrels of crude oil a day to China this year and 200,000 barrels per day for nine years from 2010.

http://english.people.com.cn/90001/90776/90883/6661287.html
 
considering that factcheck is part of the annenberg foundation & obama sat on that board, I tend to have my doubts as to their accuracy as well as snopes.

in any case, this was news some months ago.
 
That was in the 10 ring Stu.Pieeyed,What are you smokin?You're first line,I like to do my own thinking with the facts?I don't like to depend on someone who is making money spreading distortion?Is it really doing your own thinking by diving into the liberal cesspool and drinking the koolaid?And I suppose Factcheck is totally altruistic and needs no income to survive,huh?Oh but that's right,They derive their income from the likes of Geo Soros and his ilk.Hmmm, no wonder they always deflect for Obama and his buddies huh?And the original phrase was correct, regardless of what Libcheck says,We stand to gain nothing! China stands to gain something.Brazil stands to gain something.Soro's company stands to gain something.OK maybe W appointed the board, so what? Here we sit,with the biggest oil reserves in the world,bigger in fact than the middle east,and you wonderful libs block drilling at every turn.Maybe your buddies at Libcheck will buy you a GREEN electric car, because we're not going to have oil.
 
Lets not forget, Sinopec's American investors , Warren Buffet for one.
Even during the genocide in Dafur , when most American were ask to divest in Sinopec, and did so, Warren Buffet's Bershire Hathaway declined to. Stating he didn't believe by divesting his holding it would change the situation in Dafur.
Fidelity Mutual ( Boston ) divested 91% of it's holding in Sinopec . Most of that was from Colleges and Universities, Harvard University for one. They did believe that China Petroleum contributed to the genocide in Dafur.
To Buffet nothing maters but profit and controlling with his wealth, like Sorros, everything he can.
 
China's thirst for oil is putting a pretty big drain on the global oil market. A large new find going straight to China may actually relieve a little of the pressure on the rest of the oil market. Who knows.
Meanwhile, everyone drills but us....
 
Somehow the spewing here does not surprise me.
Because I provide a link for you to read certainly does not prevent me from doing my own thinking.
why should I spend all day disproving a lie.
Please show me where Obama signed an executive order to loan 2 Billion of our taxpayers dollars to a Brazilian Oil Exploration Company (which is the 8th largest company in the entire world) to drill for oil off the coast of Brazil.
In fact, the loan is being made specifically to finance purchase by Petrobras of U.S.-made oilfield equipment and services. The mission of the Ex-Im Bank is to encourage exports by making such loans.
Sounds like we stand to gain from US jobs selling US made equipment.
Where is any proof that we have the biggest oil reserves in the world? Maybe the biggest Gas Field.
There have been plenty of oil wells sitting idle until the price get up. Just how much US oil gets used in the US?
Now based on this Warren Buffet is responsible for Darfur! Wow
In case you haven't noticed Warren buffet is giving 75-85% of his fortune to medical research and education. He has also made some wonderful investments in the US.
If you have a retirement or investments try tracing where it is invested. Bet you find it going offshore.
Maybe you would rather invest in GM or the like losing Billions a month.
We have sold or soul to China and they have a hold of us where it counts.
We are spread so thin playing world police that we may have trouble defending our own country.
I like my little 4WD truck but an electric car would be nice to have also. The days of people commuting alone in a Ford Excursion daily are over and most took a bath dumping them just before they lost their homes.
Face it, we have been spoiled in many ways compared to the rest of the world. A little conservation might be good for us.
 
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In the last few months, I was called down to the Stillwater National Bank in Chickasha, OK to work as their Armed Guard for a while.
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The Asst. Manager there had only one rule for me: The TV remains on Fox News Channel and no other!
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I did'nt bother to ask her about the reason for their local Policy about tuning in to only the Fox Channel but I agree with their choice.
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You can tell by the failed effort by Obama to ostracize the Fox Channel that they would like to muzzle any opinions they do not agree with. It was great to see the other channels refuse to attend the next Press Conference unless Fox would be there also!
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. Please don't confuse Warren Buffet with Mother Teresa.
Nobody has seen Buffet decapitate a poor black Sudanese .
The civilized world has asked him the divest in China Petroleum. He refuses.

China sells Sudan weapons, those weapons are used by the Arabs to kill the non Arabs.Buffet made 9 billion dollars off his holdings in Sinopec.Sinopec didn't kill anyone either, but their are between 300,000 - 400,000 dead in Dafur.
 
Apparently you were on lunch when the US spent some money in china.
In 2008 (most recent annual statistics), the U.S. trade deficit with China was a record-setting $268 billion, the largest in the world between any two countries. This means that the U.S. exported $69.7 billion in goods and services to China, while it imported over $337.8 billion. (Source: U.S. Census, Foreign Trade Statistics)
http://useconomy.about.com/od/tradepolicy/p/us-china-trade.htm
Here are a few more years.
http://www.census.gov/foreign-trade/balance/c5700.html
 
And your point is ?
I am against GATT,have always been.
At great cost to me, I buy products from any country other than China.Your figures above do me great justice.
Now go have some lunch.
 
Well lets see, if Buffet makes 9 billion in profit then he is taking it out of their pocket.
We,the USA are putting hundreds of billions in China's pocket each year.
 
Quote:http://www.predatormastersforums.com/forums/ubbthreads.php?ubb=showflat&Number=1502100#Post1502100

Nice link, problem is it is from the Opinion section of the WSJ.

SAO PAULO, April 29 (Reuters) - Brazilian energy giant Petrobras (PETR4.SA: Quote, Profile, Research) (PBR.N: Quote, Profile, Research) said on Wednesday it had obtained a $2 billion credit line from the U.S. Export-Import Bank.

Petrobras said in a statement to investors that the loan would be used to source equipment from the United States required for its expansion plans.

The company plans to invest $174 billion from 2009-13 to expand oil output. (Reporting by Marcelo Teixeira; Writing by Peter Murphy)

http://uk.reuters.com/article/idUKSPG00027720090429
 

Facts About the Proposed Ex-Im Bank Loans for Petrobras' Brazilian Offshore Oil Exploration and Development
Background on Ex-Im Bank:

* The Export-Import Bank of the United States’ (Ex-Im Bank) mission is to help create and sustain jobs for American workers. The Bank does this at no cost to the American taxpayer; in the past sixteen years the Bank has netted the American people $4.9 billion and the jobs those exports have supported.
* More than 80% of Bank authorizations during the last fiscal year directly benefited small businesses.

Charges and facts:

Charge: The U.S. government is giving away more than $2 billion in taxpayer dollars to Brazil’s largest oil and gas company to drill for oil in Brazil.

Fact: The Bank has approved a preliminary commitment to lend up to $2 billion to Petrobras for the purchase of American-made goods and services. The funds will go to American exporters as payment for their sales to the company. Of note, the Bank is self-sustaining and no taxpayer dollars are involved.

Charge: The loans to Petrobras represent a giveaway of U.S. tax dollars.

Fact: The Bank’s activities do not cost the American taxpayer a dime. In fact, since 1992 the American people netted more than $4.9 billion and the jobs those exports created.

Charge: America is exporting jobs to Brazil as a result of the loans.

Fact: Only American made goods and services qualify for Ex-Im Bank loans or guarantees. This is the government doing what it's supposed to do - helping to create U.S. jobs, making sure that Americans get a fair shot at selling goods and services, and helping American workers compete on a level playing field against foreign competition.

Charge: The loan to Petrobras represents a reversal of the Obama Administration’s policies on off-shore drilling.

Fact: The Bank’s bipartisan Board unanimously approved the preliminary commitment to Petrobras on April 14, 2009, before any Obama appointees joined the Bank. In fact, at the time the Bank’s Board consisted of three Republicans and two Democrats, all of whom were appointed by George W. Bush.

Read Chairman Hochberg's Letter to the Editor that appeared in the August 21, 2009 editions of the Wall Street Journal.



Updated: August 20, 2009

http://www.exim.gov/brazil/pressrelease_082009.cfm

Here is an article from the WSJ



Letter to the Editor, Wall Street Journal
Brazil Loan Helps U.S. Manufacturers

Your editorial "Obama Underwrites Offshore Drilling" (Aug. 18) more correctly should have read, "Obama Underwrites U.S. Jobs." That's because the mandate of the Export-Import Bank of the U.S. (Ex-Im Bank) is to help create and sustain U.S. jobs by financing U.S. exports. Our offer to provide financing to Brazil's state-owned oil company Petrobras does exactly that.

That's what is behind our decision to offer at least $2 billion in loans or loan guarantees to help finance purchases of U.S. goods and services by Petrobras. This increases the likelihood that American—not foreign—
workers will be employed to satisfy part of the company's planned $175 billion investment during the next five years.

Ex-Im Bank does not make U.S. policy. In fact, our charter prohibits us from turning down financing for either nonfinancial or noncommercial reasons, except in rare circumstances including failure to meet our environmental standards.

We make no grants. The vast majority of our financing consists of guarantees of loans made by commercial lenders, not Ex-Im Bank direct loans. The foreign buyers that use Ex-Im Bank products pay us in full. Over the past 16 years the fees that we collect have netted American taxpayers more than $4.9 billion plus the jobs those exports have created. Thanks to the fees we charge, the bank is self-sustaining and does not receive any appropriated funds from Congress.

At a time when jobs, and exports, are more important than ever in helping our economy recover, Ex-Im Bank is achieving its mission to keep Americans working, and we're doing it without burdening the U.S. taxpayer.

Fred P. Hochberg
Chairman and President
Export-Import Bank of the U.S
Washington

Printed in The Wall Street Journal, page A12, August 21, 2009

http://www.exim.gov/brazil/letter_to_editor_082009.cfm

http://www.exim.gov/
 
Pieeyed,if you can't dazzle them with brilliance,baffle them with BS.And I must add that you picked your screen name quite adeptly.According to Wordreference.com English Dictionary:

Pieeyed/ adjective
1 besotted, blind drunk, blotto, crocked, cockeyed, fuddled, loaded, pie-eyed, pissed, pixilated, plastered, potty, slopped, sloshed, smashed, soaked, soused, sozzled, squiffy, stiff, tiddly, tiddley, tight, tipsy, wet,
very drunk

http://www.wordreference.com/definition/pie-eyed
 
Quote:pieeyed/ adjective
1 besotted, blind drunk, blotto, crocked, cockeyed, fuddled, loaded, pie-eyed, pissed, pixilated, plastered, potty, slopped, sloshed, smashed, soaked, soused, sozzled, squiffy, stiff, tiddly, tiddley, tight, tipsy, wet,
very drunk

Yes Thanks I looked it up before using it. I am glad you spent the time to educate yourself. Too bad you don't do the same on some issues facing the country.
 
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