Obama Supports Oil Development...For Brazil, Not America (What Were You Thinking??)

This is the kind of thing that really gets under my skin:

Petrobras, the Brazilian oil giant, has discovered world-class oil fields, estimated to contain in aggregate some 80 billion barrels of oil, in the deepwater offshore Brazil. Developing the reserve will be expensive, as the deposits are located beneath 2,000m (6,600 ft) of water and 5,000m (16,400 ft) of sediment, including a thick layer of salt. The company plans to spend $29 billion through 2013 to develop the portion of the "pre-salt" basin it already controls.

Financing? No problem. The Obama Administration, through the U.S. Export-Import Bank, has agreed to provide up to $10 billion in loans to Petrobras to help pay for the development, according to Brazilian Planning Minister Paulo Bernardo da Silva. The China Development Bank has agreed to supply a similar credit line, repayable in barrels of oil in lieu of cash.

When a lender structures a loan to be repaid in barrels, it represents a speculation on the price of oil as well as a bet on being repaid.

The Brazilian government is the controlling shareholder of Petrobras, but shares trade on several exchanges, including New York (symbol PZE). The company operates in 27 foreign countries, including the U.S. in the Gulf of Mexico.

Which begs the question: Why is the American President willing to risk $10 billion on the success of a Brazilian oil venture, while giving every signal that he wishes the American independent producer would just shrivel up and die?

Is it because we vote Republican?

Yes, it probably is.  Also, it's because cheap and plentiful oil means cheap and plentiful energy, which means freedom and choice for Americans, as well as prosperity and military might for America.

Remember, Democrats have blocked every major attempt to increase domestic fossil fuel energy production in the past 30 years!  Via Gateway Pundit, here are just a few examples of some of the more recent ones:

Thanks to Democratic "No Zones", the US Is in Grave Danger
It's Official, Cuba Hires China to Drill Oil Off Florida Coast
Despite Oil Crisis, Democrats AGAIN Block US Firms from Drilling!
Democrats Crack Gas Jokes Then Vote Against US Oil Development
Union Protesters Get Lost, End Up at White House
Democrats Fail to Prevent Senate Oil Drilling Bill from Passing
Despite Global Oil Crisis, Dems Will Block Drilling & Exploration!
In First 100 Hours, Democrats Propose Ban on Oil Drilling
Democrats Force American Energy Companies to Flee
Americans Can No Longer Afford the Pelosi-Reid Gas Prices
Pelosi-Reid Congress Sets Another Record... In Gas Prices
House Dems Pass Massive Tax Hike on Oil Companies to Bring Down Price of Fuel
So Much For That Pelosi Plan to Cut Gas Prices
Dems Mock Bush-- Vow No New Drilling or Nuclear Plants!!
This Will Be The #1 Issue in the 2008 Elections-- And, It Goes to Republicans
Halleluiah! House Dems Solve Oil Crisis-- Will Sue OPEC
Radical Conservationists Use Junk Science to Block Oil Drilling

Someone needs to ask President Obama why he opposes the search and development of oil reserves for foreign nations while simultaneously blocking the same efforts for America.  Of course, we already know why, but someone needs to expose his agenda by making him answer the question in a public forum.

There's my two cents.