Giving the Help We Need Somewhere Else
Work’s been fun lately, and I found myself tossing arond in a hotel bed at 3AM this morning. So I get to finally look around for fun news, and what do I find? Apparently I missed that President Obama announced that we’re going to give Petrobras — Brazil’s state-run oil company — a couple billion dollars so they can drill offshore. In fact, it’s a nice loan from the US Export-Import Bank. Hey, great for Brazil. It’s a growing country, and investing there probably makes economic sense for the whole Americas region. It’s probably also good to strengthen more South American governments that aren’t run by people who think that capitalism destroyed Mars. All that said, I think some people are probably pretty unhappy.
Gulf Oil CEO Joe Petrowski says President Barack Obama’s weekend comments in Brazil that the United States looks forward to purchasing oil drilled for offshore by that nation “is rather puzzling,” and “hypocritical” as his administration has imposed a virtual moratorium on domestic drilling. The signal to purchase more foreign oil comes after the U.S. Export-Import Bank invested more than $2 billion with Brazil’s state-owned oil company, Petrobras, to finance exploration.
Yea, that was kinda’ my thought too. The language around this is nearly bizarre. We need to help Brazil harvest its reserves, and we’d be happy to buy oil from the country. No, don’t worry about the perils of drilling offshore, we’ll loan you money so you can buy equipment and drill oil, then sell it to us.
If that was the message that went to the oil companies who are currently sitting on their hands in the Gulf of Mexico, we’d be blinking our eyes and wondering what alien replaced the president. Instead that message went a few thousand miles south, and we’re just wondering if the entire administration lives on another planet.
Of course, the IBD has a theory: It’s about the Soros contributions.
Our disengaged president has said little as the Arab world is engulfed in revolution and has been absent as a huge budget battle plays out in Congress. But some lines can be drawn between his more inexplicable decisions and cronyism.
Indeed, many of Obama’s decisions have been all about benefiting special interests and political friends — what’s been called the Chicago Way. Whatever it’s called, it’s in the interests of the few at the expense of the whole.
There are plenty of examples in the IBD article where the administration has appeared to favor contributors to the campaign or people working in the government (i.e. support for nuclear benefits GE, just as Mr. Immelt takes on a bigger role in the administration). Well, duh. But I still don’t think that’s the primary reason.
A bit ago I mentioned that I know quite a few people who are happy to have oil come from any nation other than ours mostly because they’d rather that the other nations take the environmental risks while we just pay for them to do it. This one still seems to me to be one of the more likely (I almost said rational) scenarios. Sure, we’ll pay extra to put jobs somewhere else to get icky oil out of the ground. Nope, can’t do it here, it might ruin the view.
But at this point, I’m wondering what we’re going to propose for all the workers in the Gulf, other than a one-year stint volunteering for Americore…
Updated: Michelle Malkin covers the obsticle course that the administration has set up for Gulf oil drilling permits.