Obama Supports Offshore Drilling?

Oh, in South America.

I was under the impression that President Obama wanted to limit the use of fossil fuels. Isn't that what cap-n-trade was all about?

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.

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.

Huh? How can Obama insist that we reduce our consumption of fossil fuels and then turn around and financially support Brazil in its endeavors to acquire more of them?

Well gee, I see big time Obama supporter George Soros has his hands in this cookie jar. Looks like one big back-scratching circle.

So, does this mean Obama is for fossil fuels, or against?

Hope and Change? Transparency? Really.

From Hot Air