{"id":2627,"date":"2009-08-19T16:30:05","date_gmt":"2009-08-19T20:30:05","guid":{"rendered":"http:\/\/www.jasetaro.com\/blog\/?p=2627"},"modified":"2009-08-19T16:30:05","modified_gmt":"2009-08-19T20:30:05","slug":"pres-obama-backs-offshore-drilling-just-not-in-u-s-waters","status":"publish","type":"post","link":"https:\/\/www.jasetaro.com\/blog\/2009\/08\/19\/pres-obama-backs-offshore-drilling-just-not-in-u-s-waters\/","title":{"rendered":"Pres. Obama Backs Offshore Drilling… Just Not in U.S. Waters"},"content":{"rendered":"

I was going to comment on this Wall Street Journal editorial<\/a> yesterday but I didn’t get to it… In short the Obama Administration has finally embraced offshore oil drill, unfortunately it’s not in the U.S.:<\/p>\n

You read that headline correctly. Unfortunately, the Obama Administration is financing oil exploration off Brazil<\/em>.<\/p>\n

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.<\/p>\n

The U.S. Export-Import Bank tells us it has issued a “preliminary commitment” letter to Petrobras in the amount of $2 billion and has discussed with Brazil the possibility of increasing that amount. Ex-Im Bank says it has not decided whether the money will come in the form of a direct loan or loan guarantees. Either way, this corporate foreign aid may strike some readers as odd, given that the U.S. Treasury seems desperate for cash and Petrobras is one of the largest corporations in the Americas.<\/p>\n

But look on the bright side. If President Obama has embraced offshore drilling in Brazil, why not in the old U.S.A.? The land of the sorta free and the home of the heavily indebted has enormous offshore oil deposits, and last year ahead of the November elections, with gasoline at $4 a gallon, Congress let a ban on offshore drilling expire.<\/p><\/blockquote>\n

I’m going to defer to Sarah Palin here because rather than offer substantive commentary I’m tempted to say something inflammatory like… if this doesn’t take the cake for asinine, moronic moves by an American administration I don’t know what does… Oops, anyway here’s Gov. Palin<\/a>:<\/p>\n

For years, states rich with an abundance of oil and natural gas have been begging Washington, DC politicians for the right to develop their own natural resources on federal lands and off shore. Such development would mean good paying jobs here in the United States (with health benefits) and the resulting royalties and taxes would provide money for federal coffers that would potentially off-set the need for higher income taxes, reduce the federal debt and deficits, or even help fund a trillion dollar health care plan if one were so inclined to support such a plan.<\/p>\n

So why is it that during these tough times, when we have great needs at home, the Obama White House is prepared to send more than two billion of your hard-earned tax dollars to Brazil so that the nation’s state-owned oil company, Petrobras, can drill off shore and create jobs developing its own resources? That’s all Americans want; but such rational energy development has been continually thwarted by rabid environmentalists, faceless bureaucrats and a seemingly endless parade of lawsuits aimed at shutting down new energy projects.<\/p><\/blockquote>\n

Gov. Palin is right, the simple reality is whether we like it or not oil and natural gas fuel our economy… While it’s good to see the Obama Administration supporting offshore oil drilling, their efforts would be better directed at encouraging the tapping of domestic resources and creating jobs for Americans rather than $2 billion of taxpayer money overseas.<\/p>\n","protected":false},"excerpt":{"rendered":"

I was going to comment on this Wall Street Journal editorial yesterday but I didn’t get to it… In short the Obama Administration has finally embraced offshore oil drill, unfortunately it’s not in the U.S.: You read that headline correctly. Unfortunately, the Obama Administration is financing oil exploration off Brazil. The U.S. is going to […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[285,73,7],"tags":[802,462,801,800,83],"class_list":{"0":"post-2627","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-energy","7":"category-international-affairs","8":"category-politics","9":"tag-brazil","10":"tag-obama-administration","11":"tag-offshore-oil-drilling","12":"tag-petrobras","13":"tag-sarah-palin","14":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pfpI7-Gn","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":3395,"url":"https:\/\/www.jasetaro.com\/blog\/2010\/06\/22\/breaking-judge-rules-against-obama-administration-on-gulf-drilling-moratorium\/","url_meta":{"origin":2627,"position":0},"title":"Breaking: Judge Rules Against Obama Administration on Gulf Drilling Moratorium","author":"Jeff","date":"June 22, 2010","format":false,"excerpt":"A federal judge in New Orleans has lifted the Obama Administration's six month moratorium on offshore oil drilling. U.S. District Judge Martin Feldman said in his ruling that the Interior Department failed to provide adequate reasoning for the moratorium: A New Orleans federal judge lifted the six-month moratorium on deepwater\u2026","rel":"","context":"In "Breaking News"","block_context":{"text":"Breaking News","link":"https:\/\/www.jasetaro.com\/blog\/category\/breaking-news\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3855,"url":"https:\/\/www.jasetaro.com\/blog\/2011\/03\/07\/white-house-hey-let%e2%80%99s-tap-into-the-strategic-petroleum-reserve\/","url_meta":{"origin":2627,"position":1},"title":"White House: Hey, Let\u2019s Tap Into the Strategic Petroleum Reserve","author":"Jeff","date":"March 7, 2011","format":false,"excerpt":"President Obama\u2019s Chief of Staff Bill Daley floated what might turn out one top ten stupidest ideas of 2011 during an appearance on Meet the Press yesterday... suggesting the Obama Administration may tap into the strategic petroleum reserve as way to help ease soaring oil prices: White House Chief of\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":422,"url":"https:\/\/www.jasetaro.com\/blog\/2008\/09\/19\/sierra-hotel-the-gang-of-20-folds\/","url_meta":{"origin":2627,"position":2},"title":"Sierra Hotel! The Gang of 20 Folds!","author":"Jeff","date":"September 19, 2008","format":false,"excerpt":"The Hill is reporting that Lindsey Graham and his gang of wimps have folded... For now anyway. A bipartisan group of senators who sought a compromise in the rancorous energy debate won't introduce their bill before lawmakers adjourn for the elections, several Senate aides said Thursday. Instead, the so-called Gang\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3235,"url":"https:\/\/www.jasetaro.com\/blog\/2010\/02\/25\/obama-administration-to-britain-drop-dead\/","url_meta":{"origin":2627,"position":3},"title":"Obama Administration to Britain: Drop Dead","author":"Jeff","date":"February 25, 2010","format":false,"excerpt":"I'll say this much for the Obama Administration: They're consistent. From the get go they've made it clear that longstanding American allies can expected to be taken for granted, insulted and, if convenient, dumped in favor of appeasement. Consequently this administrations decision to not support Britain, our closest ally, in\u2026","rel":"","context":"In "International Affairs"","block_context":{"text":"International Affairs","link":"https:\/\/www.jasetaro.com\/blog\/category\/international-affairs\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":171,"url":"https:\/\/www.jasetaro.com\/blog\/2008\/08\/04\/back-to-the-70s\/","url_meta":{"origin":2627,"position":4},"title":"Back to the 70’s","author":"Jeff","date":"August 4, 2008","format":false,"excerpt":"Everything old is new again or here we go again... Back to the 70's. Every time I listen to democrats in talk about energy policy I feel I've been transported back to the 1970's. Admittedly some of of their suggestions like making sure your tires are properly inflated or getting\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":3955,"url":"https:\/\/www.jasetaro.com\/blog\/2011\/03\/16\/ouch-food-prices-soar\/","url_meta":{"origin":2627,"position":5},"title":"Ouch: Food Prices Soar","author":"Jeff","date":"March 16, 2011","format":false,"excerpt":"The Federal Reserve has been on a media campaign to sell its monetary policy to main street, but as the Wall Street Journal noted yesterday it hasn't gone smoothly. Frankly, I have to wonder how the Fed will spin this mornings\u00a0 news about the surge in wholesale prices, which were\u2026","rel":"","context":"In "Economy"","block_context":{"text":"Economy","link":"https:\/\/www.jasetaro.com\/blog\/category\/economy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts\/2627","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/comments?post=2627"}],"version-history":[{"count":0,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/posts\/2627\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/media?parent=2627"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/categories?post=2627"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.jasetaro.com\/blog\/wp-json\/wp\/v2\/tags?post=2627"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}