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Monadnock Guide
Council of Elders
USA
Bumppo's Patron since [at least]:
March 14 2005
Status: offline
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 Posted - August 18 2009 : 6:14:08 PM
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What happened to all the environmental concerns? ... From Casey Research, ...
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How to explain, therefore, the decision of the Obama administration to lend $2 billion, and maybe more, to the state-owned Brazilian oil company so that it can further explore that countrys very deep, very challenging, and very expensive new offshore oil fields? Using our money, Brazil hopes to succeed in moving up in the ranks of foreign-controlled state oil draining the U.S. of its tangible wealth. I am sure that the Obama administration figures these loans will put us in the catbird seat when the time comes to negotiate for the lions share of the oil, but that ignores history. As administrations change here in the U.S., so do they change in Brazil. Who is to say that -- if and when the Brazilian offshore fields are up and running -- the Chinese wont simply step in and use a slice of their reserves of hundreds of billions of dollars to trump us? Money cant buy you love, and it cant buy the unswerving fealty of a sovereign state.
So much for energy independence.
You can read a commentary on this latest example of your tax dollars at work -- for someone else -- by clicking here.
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