Originally Posted By: Mithus
Originally Posted By: JetStar
Originally Posted By: Wolfgang
Obama invested in drilling offshore, by loaning Brazil money to do so. Apparently drilling for oil offshore isn't a bad thing if you live in another country. To bad he doesn't feel the same here, while we have more than enough oil,natural gas and coal to get us off the mideast oil. We are loaning countries money to go after their oil. Nothing wrong with temporarily getting our own resources while we R&D for other ways to produce energy. Plus it will add jobs. Something Obama needs.


WRONG

http://www.politifact.com/truth-o-meter/...llion-brazil-h/


Also I have to point that Petrobras has a busines plan of investment that is around 224 billions dollars for next 5 years, while 2 billion seems too much, USA loan if is true is less than 1% of total

Quote from PETROBRAS Website
Quote:
The Board of Directors approved the 2010-2014 Business Plan, with total investments of U.S. $ 224 billion, representing an average of U.S. $ 44.8 billion a year.

Based on the economic dynamics and energy, the plan was revised by adjusting the portfolio of projects and the Company's projections. The pillars of integrated growth, profitability and social and environmental responsibility are the basis of the strategies.

The 2010-2014 Business Plan provides for investments of 95% (U.S. $ 212.3 billion) invested in Brazil and 5% (U.S. $ 11.7 billion) overseas, with significant investments placed with the market provider, with a rate totaling 67% local content, which means an annual level of employment in the country about U.S. $ 28.4 billion.

This amount represents an increase of 20% over the previous plan, of which U.S. $ 31.6 billion in new projects, of which 62% dedicated to the Exploration & Production (U.S. $ 19.7 billion). The growth targets for the Company are maintained, including the resources needed for the exploration and development of oil discoveries in the subsalt.

Oil production has the goal of 3.9 million barrels of oil equivalent per day (boe) in 2014 and projection of 5.4 million boe in 2020.


Mithus, its more the fact this administration is willing to make loans for other countries do the thing WE need to. But the left doesn't like to see people working. We could produce our own oil, there's billions of barrels of oil we can tap. If you add in SHALE oil, you can add nearly a trillion more barrels. We could put thousands to work, and we woulnd't be buying OPEC oil, which is comprised of all middle eastern producing countries. What they do production wise in oil dictates how much we pay at the pump. And it doesn't have to be that way, WE HAVE OUR OWN. Yet our President loans money for others to do it.

Last edited by Wolfgang; 09/16/11 02:53 PM.