—Ellen Sauerbrey

What in the heck is going on here? Is the Obama administration now going into the oil drilling business? Why is the Obama administration lending up to ten billion dollars from the deficit ridden U.S. economy to Petrobras, an oil company owned by the government of Brazil, to drill for offshore oil. Are we now branching out from ownership interests in distressed banks and auto manufacturers into the energy field? And why would an administration that does not support drilling for American resources chose instead to invest in Brazil?

Bloomberg reported on August 15th, that one of Obama’s biggest benefactors, billionaire investor George Soros bought an $811 million stake in Petroleo Brasileiro SA in the second quarter, making the Brazilian state-controlled oil company his investment fund’s largest holding. As of June 30, Petrobras, made up 22 percent of the $3.68 billion of stocks and American depositary receipts held by Soros Fund Management LLC, according to a filing with the U.S. Securities and Exchange Commission. Is there any connection there??

(Read the rest at http://ellensauerbrey.blogspot.com)

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