Obama’s Energy Policy: Outsource the Industry to Brazil

Unfortunately it looks like Comrade Obama has been doing more down there in Rio than sipping fruity drinks out of coconut shells while he off-handedly commits us to a third simultaneous war. If you think outsourcing is bad now, wait until our post-American president is done exporting what’s left of our energy sector:

Now, with a seven-year offshore drilling ban in effect off of both coasts, on Alaska’s continental shelf and in much of the Gulf of Mexico — and a de facto moratorium covering the rest — Obama tells the Brazilians:

“We want to help you with the technology and support to develop these oil reserves safely. And when you’re ready to start selling, we want to be one of your best customers.”

Obama wants to develop Brazilian offshore oil to help the Brazilian economy create jobs for Brazilian workers while Americans are left unemployed in the face of skyrocketing energy prices by an administration that despises fossil fuels as a threat to the environment and wants to increase our dependency on foreign oil.

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Obama said he chose Brazil to kick off his first-ever visit to South America in recognition of that country’s ascendancy. He has also highlighted one of the reasons for America’s decline — an energy policy that through the creation of an artificial shortage of fossil fuels makes prices “necessarily skyrocket” to foster his green energy agenda.

Fulfilling his “skyrocket” promise, Obama has locked up oil shale reserves in the West three times the size of Saudi Arabia’s reserves of crude, and is stalling a pipeline that could provide us with 500,000 barrels of oil per day from Canada, with a byproduct of 13,000 immediate jobs. Then there’s what he’s done to the oil industry in the Gulf.

Fortunately he’s getting at least a little pushback from normally supine Republicans:

Sen. David Vitter (R-La.) is questioning how the United States has benefited from a $2-billion loan the Export Import Bank of the United States made to a Brazilian oil company [Petrobras] for its offshore drilling operations.

How has that loan, made several years ago, helped U.S. companies, the senator asked in a March 17, 2011 letter to Fred Hochberg, president of the Export-Import Bank.

“I am sure you can understand the frustration Louisianans have with a $2 billion loan to produce energy offshore Brazil,” Vitter wrote to Hochberg — especially given the “ongoing de facto moratorium” on deepwater drilling in the Gulf of Mexico. …

“I would appreciate a full accounting for the return on investment the American taxpayer has received, and is anticipated to receive, on the $2 billion loan to this Brazilian petroleum company,” Vitter wrote to Hochberg. “I want to understand why permitting domestically is nearly stalled, and if there is at least a return on this investment over the last year and a half for supporting production offshore Brazil.”

Let’s hope the letter gets forwarded down to Brazil, where Hochberg is currently schmoozing with Obama, along with a gaggle of crony capitalists that includes Government Electric’s Jeffrey Immelt, who hopes to force us to pay through the nose for nearly useless but outrageously expensive wind power boondoggles.

If Vitter really wants answers, he ought to look into the fortunes that will be made by Obama backer and probable puppeteer George Soros at the expense of US taxpayers as our money is poured by the $billions into Petrobras, in which he is a major shareholder. Vitter might find that our Historic First Adolescent President should be charged with corruption, treason, and economic sabotage.

On tips from G. Fox and lunaticcringeradio. Cross-posted at Moonbattery.

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