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Obama Helps Soros Drill For Oil In Brazil

From RIGZONE:

U.S. Ready to Finance Oil Drilling in Brazil

EFE News Services 8/5/2009

The U.S. government is prepared to provide up to $10 billion in loans to finance the development of massive hydrocarbon reserves off Brazil’s coast, a Brazilian official said Wednesday.

President Barack Obama’s national security adviser, Gen. James Jones, discussed the matter with officials this week during a visit to the South American country, Brazilian Planning Minister Paulo Bernardo da Silva told reporters.

He said the U.S. Export-Import Bank already has signed a letter of intent in that regard with Brazilian state oil company Petrobras.

The loan is equal in value to a similar credit line agreed to with the China Development Bank, also for exploiting Brazil’s "pre-salt" area, so-named because the estimated 80 billion barrels of high-quality crude in that new oil frontier lie far beneath the ocean floor under layers of rock and an unstable salt formation.

Under the agreement with the Chinese state bank, finalized during Brazilian President Luiz Inacio Lula da Silva’s visit to Beijing in May, Brazil can repay the loan facility with oil as opposed to cash…

Somehow this is finally making it into the news. But it has been going on for some time.

What is amazing is how our watchdog media neglected to mention any possible motive for Mr. Obama’s surprising double standard.

But we think we have a clue.

From something we posted almost exactly one year ago, from Bloomberg:

Soros hedge fund invests $811m to buy Petrobras stake

August 15, 2008

London: Billionaire investor George Soros bought an $811 million stake in Petroleo Brasileiro (Petrobras) in the second quarter, making the Brazilian state-controlled oil company his investment fund’s largest holding.

As of June 30, the stake in Petrobras, as the Rio de Janeiro-based oil producer is known, made up 22 per cent of the $3.68 billion of stocks and American depositary receipts held by Soros Fund Management, according to a filing with the US Securities and Exchange Commission. Petrobras has since slumped 28 per cent…

In November, Petrobras announced the discovery of Tupi, a field with as much as 8 billion barrels of reserves, making it the largest find in the Americas since 1976.

“Petrobras has something that other oil companies don’t have: oil – lots of it and they’re going to find more,” said Ricardo Kob-ayashi, equity fund manager with UBS Pactual in Rio de Janeiro…

Tupi is part of a new deepwater offshore region known as the pre-salt that may contain as much as 50 billion barrels, according to Peter Wells, oil analyst with the UK’s Neftex Petroleum Consultants.

The drop in Petrobras’ US-traded common shares since June 30 would have reduced the value of Soros’s disclosed stake by $235 million.

Soros Fund Management didn’t report holding any Petrobras shares at the end of the first quarter. It did disclose much smaller stakes in the Brazilian oil company during 2007, including 150,000 depositary shares, with a market value of about $17.3 million at December 31.

The hedge fund company also had calls on another 35,000 shares at December 31

We certainly have learned that Mr. Obama is good at rewarding those who put him into office.

This article was posted by Steve Gilbert on Saturday, August 22nd, 2009. Comments are currently closed.

13 Responses to “Obama Helps Soros Drill For Oil In Brazil”

  1. proreason

    George Soros is the Edgar Bergen of our times.

  2. Liberals Demise

    How much money can an almost dead guy want?
    Maybe he can offer a bribe to God so he can bring some with him?
    (just then God pulls the lever…………and sends him to Liberal Heaven)

  3. MinnesotaRush

    LD .. whatta hoot!

    “How much money can an almost dead guy want?”

    I love it! Reminds me tho’, of a saying delivered to the world by St. Ignatius: “What does a man profit if he gains the entire world; but loses his soul in doing so”.

    Your upside down “7734” spot may well be the final destination for Mr Soros and his ilk.

  4. armadillo

    Interestingly, the usual non-governmental enviro “watchdog” groups tend to give the state-controlled petroleum companies, like Petrobras, a pass and instead focus their harassment on private corporations. Despite poor environmental records in petroleum exploration and mining in Latin America, state run companies are ignored by the enviro-whackos and politicians.

    Maybe this also explains why the current administration is so keen on Brazil.

  5. VMAN

    I was watching a financial show on Fox this morning and they had this Democrat stooge on. She was asked by a number of the panelists why the US is sinking all that money into Brazilian oil interests and not just Drilling off shore in our own country. The idiots answer was simply “because there’s a ban”

  6. I hear instead of waiting for the money to be “loaned”, Soros has already done the deed, now he just has to sit back and wait for the U.S. to make his dreams come true. THIS is where all the baby boomers money has gone to in the last 50 years. Wars against oill rich countries, and “loans” to those who ACT like they are our friends. Every known someone who is so desperate for friendship, that they will be nice to the school bullies? THAT’S OBAMA. Look at who’s *ss he’s kissing. Lula!!! Maybe he shoud check out what Lula is doing to American Children., maybe he should check on the status of Brazil’s compliance with the Hague Treaty. I mean after all , it’s not quite as important as violating copyright law as in the case of U.S. pharmaceuticals, but harboring children that have been abducted by a parent who wants to avoid a custody hearing, codoned, encouraged, and abetted by Brazil’s corrupt justice system, leaves one wondering about their committment to ANYTHING. It is a violation of international law, violation of the Hague Convention on the Civil Aspects of International Parental Abduction, and a HUMAN RIGHTS VIOLATION. The U.S. and Brazil are both voluntary signators of the treaty, no one forced them to sign, unless it was the fact that one of Brazil’s dual-citizen children had been illegally retained in another country and they wanted him back. Since then, under the Hague, Brazil has returned NOT ONE American Child that was abducted. Yes a few have returned by negotiations between the family members, private attorneys, and the left behind parent. But NEVER has Brazil complied with the intent of the treaty. Brazil has not, under the treaty, NOT NOT NOT returned ONE child to ANY country.
    Brazil is a HAVEN for kidnapped children and their abductors. One Austrian man, who’s 2 children were abducted by their mentally unstable Brazilian mother was thwarted by Brazils notorious corrupt judicial system long enough for his 4 y.o daughter to be MURDERED. He Still does not have the return of his other child. The Brazilian courts are FIGHTING HIM.
    Then, there is Sean Goldman, who’s mother abducted him in 2004. She married bigamously in 2007 and died in 2008. Though his father filed a Hague case immediately, the mothers family and the new “daddy’s” family, all lawyers and connected to President Lula, was able to effectively neuter Sean’s father David, and keep him in a constant battle with their local corrupt family courts, refusing to address the issue as a Hague case in the federal courts. Brazil courrupt courts decided to GIVE Sean, to the new husband who’s family OWN the courts in Rio. He petitioned the courts to REMOVE Sean’s father’s name from the birth certificate as though he never existed claiming that since David never came to see Sean (remember, they prevented him from seeing him), that he doesn’t deserve to be considered his father. Brazil is slowly becoming AMERICAN, by changing the gene pool through kidnapping.
    BRAZIL NEEDS TO BE BOYCOTTED. Please!! CALL your congressmen and ask them to support HR3240, HR2702 and HR3015. We need all 3!!
    These bills are designed to withhold trade benefits from Brazil until they comply. Lets not forget that our legislators are frothing at the mouth over Brazil’s new found OIL, and are sticking money in their panties in the hopes of getting lucky………
    Stop in and check out Brazil’s Dismal Record at
    http://www.bringseanhome.org

  7. the cyber ghost

    Is anyone really suprised?

  8. Didn’t Obama say that there comes a time when you have made enough money? I’m sure Soros already has more money than the people to whom Obama was referring. I guess Soros doesn’t care about the poor inner city children. I guess he doesn’t care about black people. I guess he doesn’t care about the plight of the non-union working man.

    How many children (kittens and/or puppies) do you think George Soros ate today?


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