While Bruce has been quite busy with work, he frequently forwards links he receives via Twitter, he alerted me to former Alaska Governor Sarah Palin’s note on Facebook about the President’s decision to grant $2 billion in loans to “to lend billions of dollars to Brazil’s state-owned oil company, Petrobras, to finance exploration of the huge offshore discovery in Brazil’s Tupi oil field in the Santos Basin near Rio de Janeiro.”
So, while Democrats (and a smattering of Republicans) have blocked attempts to exploit resources off our own shores, the Democratic President is helping a foreign country exploit its resources. If his predecessor had done this, liberals would be screaming how he was polluting a third world country in order to secure profits for his cronies in the oil industry.
If we can help subsidize Brazil’s efforts to extract its natural resources, why can’t we allow private companies to exploit our own on their own dime?
Considering this conundrum, Ed Morrissey offers:
Let American companies do what Obama is paying Brazilian companies to do — drill offshore. We won’t have to pay them money or float them any loans to do it, either. In fact, we will make money off of the leases, while the effort creates hundreds of thousands of high-paying jobs in the US, creating more tax revenue rather than emptying out the Treasury.
Michelle speculates about a Soros connection.