Obama: Drill, Baby, Drill . . . . . in Brazil, Baby, Brazil

Winningreen Issue Alert       A032211

Obama:  Drill, Baby, Drill . . . . . in Brazil, Baby, Brazil

By Gretchen Randall

Issue: President Obama, who has virtually shut down American oil exploration, said during his trip to Brazil the U.S. would help Brazil develop its huge offshore oil fields and would gladly be a customer when the project is developed. This comes after his administration has stopped development in the Gulf, off Alaska’s coast and on federal lands in the West where shale reserves outstrip the rest of the world’s supplies. So instead of creating new jobs in the U.S., Obama’s efforts to develop Brazil’s oil fields will create jobs in Brazil while U.S. unemployment hovers above 9 percent.

In addition, the U.S. State Department is asking for more environmental review of a long-delayed pipeline project to bring oil from Canada’s oil-sands to the Texas coast.  The Keystone pipeline would run 1661 miles and deliver hundreds of thousands of barrels of oil a day to the U.S.  According to Teamster’s president James Hoffa, the project would create 20,000 new American jobs. Developers are hopeful the project can be completed by 2013, baring further delays.

Other examples of Obama administration obstacles to more U.S. development by private industry:       
    √  In 2009, 77 oil leases were canceled in Utah, 9 in Wyoming.
    √  No new drilling in the Atlantic or eastern Gulf of Mexico will be allowed for seven years; planned leases delayed till 2012.
    √  It canceled leases to develop shale oil in Colorado, Utah and Wyoming that had been offered under George Bush.
    √  Though Congress lifted the ban on offshore exploration, Obama administration officials say renewable energy must be part of any plan before areas are opened.

Comment: “Instead of sending $51 billion per year to state-owned oil companies and hostile regimes to make up for the decrease of oil passing through the Alaskan Pipeline, it is time to stop delaying new oil supplies from Alaska,”  according to Dan Kish of the Institue for Energy Research. http://www.instituteforenergyresearch.org

Comment:   “We will help Brazil develop its offshore oil so we can one day import it.” from an Investor’s Business Daily editorial at:  http://www.investors.com/NewsAndAnalysis/Article/566719/201103211908/Obama-Drill-Brazil-Drill.htm

Background and links:  Brazil’s huge oil company, Petrobas, mostly government owned, not privately owned as U.S. oil companies, has had a heavy investment by liberal activist, George Soros, hoping to profit off oil to be sold to the U.S.

Contact: Gretchen Randall
Winningreen LLC
Chicago, IL
Phone: 773-857-5086
e-mail: grandall@winningreen.com