Obama won’t let US companies drill for oil, but he backs loans for Mexico to do it? With OUR TAXES?

WTF?

While jobs are drying up in the United States, in no small part due to Obama’s drilling moratorium, looks like no problem for Mexico to keep people employed, thanks to that same Obama;

Despite President Obama’s moratorium on U.S. deepwater drilling in the Gulf of Mexico, the U.S. Export-Import Bank intends to guarantee $1 billion in loans to PEMEX, the Mexican state oil company, to bolster the company’s oil drilling in the region.

The bank, which is the official American export credit agency
, loaned more than $1 billion to PEMEX in 2009 — when the company was the bank’s largest borrower — in support of its drilling activities. That year, the bank also guaranteed two loans totaling $300 million made by a commercial lender.

The latest request comes during a drilling moratorium that was first imposed by Obama in May to find out what was the cause behind the April 20 Deepwater Horizon oil rig explosion killed 11 workers and led to 206 million gallons of oil spewing from BP’s undersea well.

After a federal court struck down the ban amid complaints that it threatened thousands of jobs in the offshore oil industry, the Obama administration issued a new moratorium in July on most deep-water drilling activities that is in effect until Nov. 30.

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So is there a deal for Mexican oil company PEMEX to hire US oil workers? Or is Mexico where all the rigs are being chased off to? Somebody who is a citizen of this country better start

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About Erick Brockway

Living in Camarillo, CA, about 45 miles North of LA. I have a son, and two daughters. Working two jobs (welcome to California life), plus a (now retired) reservist in the US Navy Seabees so life is busy!
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One Response to Obama won’t let US companies drill for oil, but he backs loans for Mexico to do it? With OUR TAXES?

  1. bigguyplay1 says:

    Obama also gave over 2 billion dollars to Brazil Petrobras oil because Obama’s boss George Soros has billions invested in this Petrobras oil. Thats why most of the oil rigs are going to Brazil. Funny that the timing was perfect for them, or was it.

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