Question by Bulk Vanderhuge: Why did Obama shut down American drilling in the Gulf and then give Billions to Mexico, to drill in the Gulf?
Is the purpose of the loans is to get Mexico to drill more oil in the Gulf so that we can pay to import it?
Why don’t we just drill oil in the Gulf ourselves, creating more jobs and saving us a fortune? (Apparently that would oppress the polar bears)
excerpt…
The U.S. Export-Import Bank, an independent federal agency, loaned more than $ 1 billion to the Mexican state oil company PEMEX in 2009 to support the company’s oil drilling in the southern Gulf of Mexico. The bank has another $ 1 billion in loans in the pipeline for 2010, unless Congress objects.
On May 27, after the British Petroleum oil spill, President Obama imposed a moratorium on U.S. deepwater drilling in the Gulf, effecting 33 deepwater drilling rigs in the region.
Apparently the Bank’s activities are not affected by the Obama administration’s ban on offshore drilling because that ban applies only to deepwater drilling–drilling in 500 meters of water or deeper–and the PEMEX projects financed by the Ex-Im Bank are shallow-water projects.
Because the 2010 loans have not been approved yet by Congress, the Export-Import Bank had not announced specific amounts for each project. Congress need only object to the loans to prevent the funds from being disbursed. It does not need to specifically pass legislation to block the funding of Mexican off-shore oil production.
http://cnsnews.com/news/article/72342
Anna: because Obama and congress could stop this without ANY new legislation!!! If you would READ the article you’d know…but I guess liberals don’t read?
Best answer:
Answer by Deficit Hawk is back!
Because Mexico has brains, America is a shi* hole.
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