What’s wrong with this picture? We can’t drill for offshore oil in the United States, but we can give billions of dollars to Brazil so they can build one. We haven’t built a refinery in the United States since 1976, but we can give Colombia $2.84 billion so they can build one.
CSN News reports the completely inexplicable details of the pissing away of another few billion of your tax dollars:
The U.S. Export-Import Bank, an independent agency of the federal government, is now planning a $2.84-billion loan for a massive project to expand and upgrade an oil refinery–in Cartagena, Colombia.
The money would go to Reficar, a wholly owned subsidiary of Ecopetrol, the Colombian national oil company.
“This is part of a $5.18 billion refinery and upgrade project in Cartagena, Colombia supplying petroleum products to the domestic and export markets,” the Export-Import Bank said in a statement.
The U.S. government-controlled bank says the $2.84-billion in financing it plans to undertake will be the second largest project it has ever done. The largest was $3 billion in financing for a liquid natural gas project in Papua New Guinea.
Yes, we know these are loans and loan guarantees, not outright gifts, and we understand the theory that American companies will benefit from purchases made by the foreign oil interests. But wouldn’t American companies also benefit from purchases made by companies drilling for and refining oil in the United States?
You have to give Obama credit. He may be anti-American, but at least he’s consistent.
Source: CNSnews.com
This post was last modified on January 26, 2021
View Comments (51)
please send me some details who can build up some big oil refinery in Iraq,& Libya
mobile:+218-912123625
TAM International CO.
ENG.Taher Belhaj
Why are people so stupid? It doesn't matter how many trillions of barrels of oil you have in Alaska and the Gulf of Mexico, If the same companys own those resources they will control prices. People, the oil companies made 37 trillion dollars in profit. In a global free economy somethings are too important for free greedy corporations to control at our cost. You asked for capitalism now you got it in hijacked gas prices.
DO YOU ASSSS SEE THE WORDS::: independent agency of the federal government !!!!!!!!!!!!
http://www.usgs.g ov/newsroom/article.asp?ID=1911
oilprice.c om/Energy/Crude-Oil/Debunking-the-Myth-of-Peak-Oil-Why-the-Age-of-Cheap-Oil-is-Far-From-Over-Part-1.ht ml
The biggest reason our illustrious leaders in Washington give money hand over fist to foreign nations for so-called "Aid" is because it is much easier to assimilate Payola back into their pockets from foreigners than it is from American Corporations without getting caught with your hand in the till. The audit trail is much more obscure.
How do you get rid of cockroaches that won't leave the White House????
The best way that I know of is IMPEACHMENT NOW !!!!!!!!!!!!!!!!!!!!
What a disgrace for the American people, not to mention how much he has already destroyed of our freedom - he and his czars should be charged with treason !!!!!!!!!!!!!!!!!!!!
To add insult to injury, he is already campaigning and raising money for the next election - he believes money will buy the office. Sorry, dude, but money doesn't buy love !!!!!!!!!! You are so ignorant !!!!!!!!!!!!!!!!!!!!!!!!!!!!! Go back to Kenya where you belong!!!!!!!!!!!!!!!!!!!
Eliza,
We are existing in America at the whim of our Political Puppets. Just look at the unconstitutional actions of our current Administration. It seems as though no one in the Government or Congress has a clue what a "Natural Born Citizen" is, as compared to a "Citizen." BHO could have been born on the White House Lawn and still not meet the Constitutional requirement to be POTUS. His father was not a citizen of the USA. The Birth Certificate has no relevance to the issue. That is the misdirection.
Since we Americans cannot even comprehend that fact we have zero chance to regain control of our own government. There is a conspiracy afoot...
Barack Obama's man made gasoline price predicament :
Open ANWAR for drilling and to produce our own oil instead of buying it from foreign countries at inflated costs while keeping the speculators at bay and to keep our money right here in America
Add up items #1 thru #8, putting the most emphasis on #8 and you will have the cost of America's gasoline costs:
1. http://www.youtube.com/watch?v=MlfmvwxxgHM
2. http://therealrevo.com/blog/?p=44337
3. The President of the U.S. is now giving $2.84 Billion taxpayers dollars to Columbia to build an oil refinery. I thought we needed jobs here in the U.S.? This President is a complete loser and it now shows he hates America.
U.S. Gov't Agency Plans $2.84 Billion Loan for Oil RefineryIn Colombia
4. http://wizbangblog.com/content/2011/03/11/enough-oil-to-completely-replace-all-imports.php?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+Wizbang+%28Wizbang%29&utm_content=My+Yahoo
5. http://canadafreepress.com/index.php/article/35840
6. As Your Gas Climbs To $5 a Gallon Obama's EPA Blocks Access To 27 Billion Barrels Of American Oil - http://www.americans-working-together.com/together_we_can/id36.html
7. Is Saudi Arabia mad at Barack Obama for allowing Egypt to fall? http://grendelreport.posterous.com/saudi-slashes-oil-output-pres-obama-launches
8. The problem that contributes the MOST to high gas prices is Quantitative Easing (QE2) by the Obama administration and here is why: http://www.futuresmag.com/News/2010/11/Pages/Oil-after-QE2.aspx
Printing more money tends to push down the value of the dollar. While that would tend to help U.S. exports, it also risks pushing up the price of oil and other commodities, threatening an inflation surge that could be difficult to stop if the economy picks up.
9. After reading and watching all of the above information provided, there is still one question that needs to be asked and hopefully YOU have the right answer for the 2012 election. How is this "Hope & Change" thing working out for Americans of all parties now? http://www.moonbattery.com/archives/2011/04/hope-change-2.html
Oh excuse me. I see that this topic has been debunked and that many don't care that they've been mislead.
Rather than simply post a Federal Government link, the same government that most of us are distrustful of, why not simply articulate your thoughts for us? I do not know what others think, but I believe that elected federal politicians are charlatans, interested in the benefit of special interest groups that line their collective pockets, rather that interest in "We the People."
This article in totally inaccurate, and it is very easy to find what is true. Doesn't it make you angry that someone is intentionally misleading you? Here is the link to the press release for the source-the Import/Export Bank. http://www.exim.gov/pressrelease.cfm/31FCC63B-95C6-BE96-BFACF12DD5C9C502/
Make sure that you spread the word. This will create a lot of jobs for the US.
Tell me dear libtards, how can we lend Colombia, when we are borrowing from China?
Any answers LIBTARDS??
What was that?? Tax the RICH MORE???
Silly Libtards