President Obama Finances Offshore Drilling in Brazil (didn't see this coming!!!)

President Obama Finances Offshore Drilling in Brazil (didn't see this coming!!!)

//sarcasm//

Anyway...

You read that headline correctly. Unfortunately, the Obama Administration is financing oil exploration off Brazil.

The U.S. is going 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. Brazil's planning minister confirmed that White House National Security Adviser James Jones met this month with Brazilian officials to talk about the loan.

Read the full article here

How surprising (not!). The world is revolved not by money no, but by oil... then money! And Obama and evey other elite is on top of this, but more so the US government because well we all know how powerful these pricks are. I'm tired of all the oil talk, seriously we need some alternative to oil, but with the lack of creativity and the government holding back finances on finding said alternative energy sources we are $hit out of luck until someone with some humanity takes over, or at least introduces something cheap and alternative. Hopefully someone does this soon, it could really end the wars if it was provided by many people very fast. What is Obama going to do then? Go house to house destroying whatever mechanical engineering equipment we own that powers our house with electricity, heats our homes etc...? Good luck, I'll be waiting for him then with firepower in hand hoping the bum tries to come on my property! We will fight, or bow down to these a$$holes and I don't bow to anyone!

Humongous Frown

I am not impressed.

You know, they are not going to do it. They do not want us to be free from the oil. They want us to continue to pollute our planet, and they want to have complete and total control of the market....

Its time....Its time that we create the energy ourselves...we can not rely on them giving us fuel cell, electric, or even free energy eventually.

This is such bull#...anyone who thinks oil is even viable anymore is a loon.

reply to post by TheOneElectric


Exactly that's why some non-elitist needs to come forward and help us. I would help protect them all I can too and help spread the word. If we take down the oil needs of this country and others the elite wont bother, or maybe they still will but it will be much less. Oil wont be worth $hit if we do this the right way.

Let's start a much needed revolution!

And common people! Add your opinions to the thread. We need comments on stuff like this, it's vital we do something, now!

I'm just wondering here, does anyone else have any links to add to my OP? I expected some more comments from this thread but since there hasn't been any really I'm asking for info from you guys. Please post if you have something to share, thanks.

Well, you might find this little tidbit interesting about Petrobras:

As reported at Bloomberg.com, George Soros purchased an $811 million stake in Petroleo Brasileiro SA (PBR), (better known as Petrobras) in Q2. The Brazilian oil company is now the largest holding in his fund, amounting to 22 percent of the total $3.68 billion of stocks and American depositary receipts held by Soros Fund Management LLC. Of course, crude oil has taken a dive in the last month, helping to push Petrobras down 28 percent since his purchase and costing Soros $235 million. I guess we would all like to be in a position to lose nearly a quarter billion dollars and still be "OK". Then again, if Soros holds tight, he could end up doing well.

While the timing for Soros may not be perfect for this trade, a number of other people are also betting on Petrobras. As quoted by Ricardo Kobayashi from UBS Pactual SA: "Petrobras has something that other oil companies don't have: oil - lots of it and they're going to find more. If you can buy now and hang on, if you have the staying power, it's great.''

As written in a previous post , estimates have the Tupi-area fields in Brazil costing between $200-$240 billion to develop, in part due to deepwater rigs causing $600,000 a day to rent, forcing Petrobras to look for capital. Yet the cost might eventually be worth it given that the offshore fields are expected to hold up to 50 billion barrels. Petrobras has already leased approximately 80% of the deepest-drilling offshore rigs (see post). The company is also buying new rigs and production platforms.

If oil prices stabilize, companies to consider would be Transocean (RIG), Nobel (NE), and Nabors (NBR), each of which have sold off with lower crude prices, but each of which are also near some key support levels. For longer-term investment, some capital-intensive E&P oil companies such as Exxon Mobil (XOM) should do well, even without direct investment. Of course, this all requires crude oil to stabilize, probably stay over $100 a barrel, and potentially continue its march higher. If not, you may be experiencing the short-term returns of Soros, and not necessarily the longer-term ones.

Petrobras: Buy and Sit Tight Like Soros

I'm not sure about this Soros fella. A lot of conservatives accuse him of being a Stalinist or something like that, despite the fact that he helped fund anti-Communist groups in the Cold War, such as Solidarity in Poland. But his "Quantum Fund" (sounds like a Bond movie) is financed in part by the Rothschilds, and he does have some rather dubious financial wrangling going on.

Factcheck, on the other hand, pooh-poohs any tie between Obama and Brazilian oil:

Bogus Brazilian Oil Claims