With $4.00 per gallon gasoline already here in some states and the $5.00 mark predicted, it seems the Obama administration has finally seen the light. They want to drill for oil. Only one problem, though – not here.
Remember last month when president Obama, on one of his many trips, visited Brazil? He talked about the plan we supported for the U.S. Export-Import Bank to lend $2 billion to Brazil’s state-run oil company, Petrobras. He even proudly announced on TV that we would be one of Brazil’s best customers. So instead of “drill here, drill now, pay less,” it’s “drill Brazil, drill. ”
It gets worse. 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 (CNSNews.com).
Obviously, there’s much more to the story of high energy prices and, why we’re not drilling domestically, both on and offshore, but that’s a topic for another post. ADB