Powerline: Follow the Money (Oil)

We would like to thank a reader of this site who sent us the link to this with the comments "why Obama is screwing Oklahoma and Texas." Those words tell it like it is.

This is one more example that Obama is the puppet of George Soros. Obama and Congress give Brazil money for offshore development while American domestic producers are on their own. In fact this Administration wants to tax them more that will put small oil development firms out of business. We have plenty of oil fields in this Country waiting to be developed especially with the new technology but it is hard for producers to get the money to do the development. Instead they are watching their tax dollars and ours be sent to Brazil for development.

Why are Democrats so loathe to investing money into developing United States oil and gas fields instead of sending money overseas? Do they hate Oklahoma and Texas that much because we are the recipients of their heavy handed tactics against oil and gas producers?

All you have to do is drive around Oklahoma and compare wells that are pumping today to ones that were pumping during the Pres Bush years. Even at Will Rogers World Airport there is a noticeable decrease in the amount of pumps active when you drive by the oil fields from Nov 2008 until Nov 2009. Why not spend more money on exploring for American natural gas which is a clean fuel?

Some of our oil workers have headed to PA which happens to be a Blue State to help in developing some fields there.

Makes one scratch their head at why the Democrats will not fund oil and gas exploration but will not hesitate to send money to Brazil to do the same. How many Democrats in Congress owe their election to George Soros and ACORN voter fraud? We know the President partially owes his election to Soros -- how much ACORN voter fraud affected his election we will never know although we have suspicions that voter fraud affected the outcome of the Democrat primary.

It should be against the law to send money to a foreign county to develop oil resources when we have plenty of oil and gas fields to be developed right in the United States including ANWR.

Follow the Money
December 7, 2009
Posted by John at 8:56 PM

As we have noted many times, the United States is the only country in the world that deliberately fails to develop its own energy resources. Other than instituting price controls, this is the single most destructive economic policy that a country can pursue, which is why no one does it except us.

Brazil has one of the world's most dynamic economies and is pursuing petroleum development on a grand scale. The Washington Post reports:

Everything about the shipyard here is colossal -- the 4,000-man workforce, the billions sunk into it in capital costs, the half-finished 10-story-high production platforms.

But then, so is the challenge facing Brazil's state-controlled energy company, Petrobras: developing a group of newly discovered deep-sea oil fields that energy analysts say will catapult this country into the ranks of the world's petro-powers. The oil pools are 200 miles out in the Atlantic and more than four miles down, under freezing seas, rock and a heavy cap of salt.

Petrobras, which until recently was little known outside oil circles, has launched a five-year, $174 billion project to provide platforms, rigs, support vessels and drilling systems to develop tens of billions of barrels of oil. Energy officials here project that Brazil -- still an oil importer five years ago -- will in the next decade have one of the world's biggest oil reserves.

It doesn't take a genius to figure out that if our government pursues policies intended to slow our economic growth, and Brazil pursues policies designed to accelerate its economic growth, before long Brazil will be richer than the U.S. What's really interesting here, however, is the identity of one of Petrobras's biggest shareholders:

With a market capitalization of more than $220 billion, Petrobras is one of the world's 10 biggest companies. Over the past two years, it has been the most frequently traded foreign company on the New York Stock Exchange, trade data show. Among investors bullish on Petrobras is George Soros, who last year made the oil company the largest single holding in his investment fund, according to Bloomberg.

That's right: the Godfather of the Democratic Party, who exerts his enormous political influence to prevent American oil companies from developing our own petroleum resources in the Gulf of Mexico and elsewhere, has placed his biggest bet--not on the United States, but on Brazil. If Exxon Mobil can't compete in the Caribbean with Petrobras, the value of Soros's Petrobras investment will skyrocket. That's the sort of thievery that lies behind the Democratic Party's deliberate hobbling of the American economy.

Source: Powerline