I can't believe Yahoo ran with this. LOL.

[Soul Crusher]

Brazil Stiffs Obama on Oil Deal, Exposing President's Incompetence

http://news.yahoo.com/brazil-stiffs-obama-oil-deal-exposing-presidents-incompetence-181200200.html



By Mark Whittington | Yahoo! Contributor Network – 10 hrs ago

COMMENTARY | President Barack Obama has suffered the second embarrassment over oil imports within the space of a week. Brazil, whose offshore deposits of oil were sought by the Obama administration, has signed contracts with China for the product.

According to the Washington Times, Brazilian offshore crude may number about 38 billion barrels. Obama went to Brazil last month to put in a bid for the oil, offering loans and other support to develop the oil in an "environmentally responsible matter," The Hill reported at the time. Republicans criticized that initiative, pointing out Obama has placed roadblocks in the way of domestic development of oil and gas reserves.

Brazil's decision comes on the heels of Obama's refusal to permit the building of the Keystone XL pipeline to bring oil from Canada's tar sands in Alberta to Texas oil refineries, according to the Los Angeles Times. The decision was criticized by Republicans as well as union officials who point out that 20,000 jobs the pipeline would bring would therefore not be created.
Obama's policy in regard to oil and gas has been a study in incompetence driven by an ideological mania against hydrocarbon fuel in favor of more politically correct forms of energy production. This has not only led to what amounts to a campaign against oil and gas production in the U.S., but embarrassing scandals such as Solyndra, brought on by unwise federal loan guarantees to dubious green energy companies.

This is occurring at a time when Iran is threatening to close the Strait of Hormuz through which much of the world's oil passes from Persian Gulf fields. The very threat has led to a spike in the price of oil and of gasoline.

Unfortunately, Obama shows no sign of learning from his mistakes. A responsible president would move quickly to exploit more accessible sources of oil, lifting restrictions on domestic production and quickly signing off on the pipeline deal with Canada, an American ally. Obama, however, is doing neither of these things.
A new energy crisis this summer, brought on by turmoil in the Middle East, is not outside the realm of possibility. The bad news is Americans will suffer, just as they did in 1973 and 1979. The good news is Americans are likely to make their ire known at the polls in the fall. But it months of turmoil and agony lay ahead until then.

[Soul Crusher]

Barack Obama: no jobs, no oil, no energy
Flopping Aces ^ | 01-23-12 | DrJohn

Posted on Monday, January 23, 2012 11:41:58 AM by Starman417



It's the mother of all boners. Barack Obama gambled the future of the US oil supply on Brazil.

He lost. China kicked his butt.

In March Barack Obama put on his best groveling suit (you know, the same one he wore when genuflecting to the Saudi King) and went off to Brazil looking for foreign oil. The schtick was thick:


Obama started by saying that being in Brazil was a great joy, and thanking his hosts on behalf of his wife Michelle and family for the warm welcome they received.
The US president said it was a pity that he had to come only days after the Carnival but: “my only regret is that we missed the party by coming a few weeks after Carnival. Maybe that's the best -- since I'm not sure I would have had the same level of productivity from my staff”.

While emphasizing US weaknesses, he promised the US would be Brazil's best customer:


Obama also spoke about energy. “The oil you recently discovered off the shores of Brazil could amount to twice the reserves we have in the United States”, he said, adding that the US want to help Brazil with the technology needed to extract it and, when Brazil is ready to begin selling the commodity, “we want to be one of your best customers”.
That is not to be. Brazil blew off Obama for China instead:


BUENOS AIRES — Off the coast of Rio de Janeiro — below a mile of water and two miles of shifting rock, sand and salt — is an ultradeep sea of oil that could turn Brazil into the world’s fourth-largest oil producer, behind Russia, Saudi Arabia and the United States.
The country’s state-controlled oil company, Petrobras, expects to pump 4.9 million barrels a day from the country’s oil fields by 2020, with 40 percent of that coming from the seabed. One and a half million barrels will be bound for export markets.

The United States wants it, but China is getting it.

Less than a month after President Obama visited Brazil in March to make a pitch for oil, Brazilian President Dilma Rousseff was off to Beijing to sign oil contracts with two huge state-owned Chinese companies.

The deals are part of a growing oil relationship between the two countries that, thanks to a series of billion-dollar agreements, is giving China greater influence over Brazil’s oil frontier.

Apparently deciding that the US needed neither the oil nor the jobs, Barack Obama rejected the Keystone Pipeline.

(Excerpt) Read more at floppingaces.net...




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