From my Western Tradition Partnership blog:
In his Feb. 15, 2010 column, Michael Barone, Washington Examiner senior political analyst and co-author of the respected Almanac of American Politics, warned “Under Obama, crony capitalism again rules the day.” Barone went on to document how the Obama administration is manipulating health care and banking policy, and the automotive industry, to benefit friends of the White House.
President Obama’s disturbing policy on off-shore energy exploration should give Mr. Barone a lot more to write about.
The Obama administration is fighting off-shore energy exploration here in the United States, robbing workers of badly-needed jobs in a double-digit unemployment market and driving up energy and consumer prices as wages stagnate or fall.
But Obama is much kinder to Brazil, and one of his biggest personal moneymen. The Obama-controlled U.S. Import-Export Bank announced in Aug. 2009 it is shipping $2 billion in tax dollars to the socialist-run country’s government-run oil company to finance oil drilling in the massive off-shore Tupi oil basin, according to The Wall Street Journal.
And that $2 billion in taxpayer cash is just a down payment, as the Obama administration has talked with socialist President Lula da Silva about increasing that amount to Petrobras.
The real scandal is who gets rich off Obama’s decision to wire $2 billion in taxpayer cash to socialist Brazil while American energy workers collect unemployment and workers whose jobs depend on the energy industry join them on the unemployment line.
Bloomberg Financial News reports as of June 30, 2008, Hungarian left-wing financier George Soros purchased an $811 million stake in Petrobras. In just the last few years, Soros has funneled close to $100 million to various radical left-wing groups that support Obama and the radical environmentalist agenda.
After Soros’ purchase of Petrobras stock, Obama would loan the company $2 billion in taxpayer cash to boost profits largely held by Soros.
And it’s all but certain that a chunk of those taxpayer-funded Soros profits will be funneled into the campaign accounts of Obama, radical environmentalist groups and Obama’s Democrat cronies.
So while American workers suffer wage stagnation, rising prices and growing unemployment because of the Obama administration’s refusal to allow off-shore energy development in the United States, left-wing moneyman George Soros and Brazil’s state-run oil company will reap windfall profits, guaranteed by mountains of American taxpayer cash, that will find their way into liberal campaign accounts.
Seven months later, Obama refuses to budge — denying jobs to American workers and punishing families with higher prices while using public policy to benefit his political allies.
Americans workers may not be able to write the kind of checks to fund radical activity that Soros can, but WTP members ask Obama to do one simple thing — just allow Americans to develop the massive energy reserve we already own off our own shores.
Barone was right. The Obama administration is charging hard to write public policy to line the pockets of the president’s friends, knowing some of that cash will shake its way down to the president and his friends.
WTP members ask Obama to do one simple thing, give American workers just a fraction of the attention he showers on socialist regimes and leftist political moneymen.
They don’t want an Obama bailout. Or Obama to nationalize their industry. Or wire $2 billion in taxpayer cash to their offshore accounts.
WTP members, and millions of unemployed Americans, have one request — simply allow Americans to develop the massive energy reserves we already own off our own shores.
The jobs and lower prices that off-shore energy development bring should be available to all, not just a privilege to be enjoyed by the president’s friends on the taxpayer’s dime.