U.S. Loaning Mexico $1B for Gulf Drilling

by Chris Bounds on September 13, 2010

President Obama has a drilling moratorium preventing U.S. companies from deepwater drilling.

At the same time the U.S. is loaning money to PEMEX, the Mexican state owned oil company, to help boost its drilling in the Gulf of Mexico.  From Fox News:

Despite President Obama’s moratorium on U.S. deepwater drilling in the Gulf of Mexico, the U.S. Export-Import Bank intends to guarantee $1 billion in loans to PEMEX, the Mexican state oil company, to bolster the company’s oil drilling in the region.

The bank, which is the official American export credit agency, loaned more than $1 billion to PEMEX in 2009 — when the company was the bank’s largest borrower — in support of its drilling activities. That year, the bank also guaranteed two loans totaling $300 million made by a commercial lender.

Now, reportedly the projects guaranteed by the loan do not involve deepwater drilling.  However, is anyone questioning why the United States is restraining American oil companies while at the same time supporting its foreign competitors?  Does that make any sense at all?  Before your head explodes trying to comprehend that logic let me remind you about part of the Crime Inc. story:

In summary, George Soros with his vast amounts of money has aggressively funded Petrobras and the CAP. The CAP is shaping Obama’s policies, so it is reasonable to believe that Soros holds strong influence with Obama and his polices. Obama commits $2 billion to Petrobras days after Soros’s investment, and then a year later bans Petrobra’s American competition from opening new deepwater wells.

Forget conspiracy theory for a moment. Pretend all of this is a mere coincidence and there is absolutely no corrupt organized effort involved. Even as a coincidence, who are the winners in this game? Petrobras and its stakeholders like George Soros! Who are the losers? American businesses and thousands of workers who have been vastly harmed by President Obama’s rash deepwater oil moratorium! Organized effort or not, does that sound like a good situation for America?

Now, if after reading this you find yourself having sudden panic attacks including but not limited to screaming at your computer, please count to ten and say a prayer.  If symptoms persist, consult your neighbors and make sure the candidates on your ballot do not support the anti-American, anti-business policies of the Obama Administration.