Obamas New Energy Policy: More Drilling... in Brazil?

Texas Insider Report: HOUSTON Texas This may come as a shock to some people but Barack Obama really does have an energy plan. Yep. In a speech on his South American tour Obama said the U.S. will help develop Brazils offshore drilling so that America can buy the oil! Can we PLEASE have an early election?   For all of you who thought that he was clueless... who thought that as oil prices continue to rise & as conflicts in the Middle East continue to escalate that our president should be coming up with a plan to decrease our dependency on foreign oil think again. He does have a plan. As noted in an op-ed in Investors Business Daily (IBD) Obamas trip to South America included a stunning proposal regarding offshore oil drilling. Did Obama tell the world that the U.S. would not be held hostage to volatility in the Middle East? No. Did he say that the U.S. would expand its own oil production so that it would no longer import around 60 of the oil it consumes? No. Instead Obama said regarding Brazil

We want to help you with the technology and support to develop these oil reserves safely. And when youre ready to start selling we want to be one of your best customers.

Go ahead read the statement again. Read it two times. Let it sink in. Of all the oil Americans consume only about 40 is produced domestically. I thought Obama was all about investments right? Doesnt he talk about winning the future? It turns out hes talking about Brazils future. The IBD story reminds us that the Obama team has already supported the U.S. Export-Import Banks plan to lend $2 billion to Brazils state-run Petrobras. Thats right... the plan loans Brazil $2 billion to develop oil drilling technology.

Obama wants to develop Brazilian offshore oil to help the Brazilian economy create jobs for Brazilian workers while Americans are left unemployed in the face of skyrocketing energy prices by an administration that despises fossil fuels as a threat to the environment and wants to increase our dependency on foreign oil.

Sen. David Vitter (R-LA) blasted Obama in comments reported by The Hill.

Its ridiculous to ignore our own resources and continue going hat-in-hand to countries like Saudi Arabia and Brazil to beg them to produce more oil Vitter said in a statement. We need to get serious about developing our resources here at home and working toward lower gas prices and long-term energy independence.

So thats Obamas energy plan: Pay other countries to develop their own oil production then buy the oil from those countries. Does that sound like a winner to you? Read more from Bobby Eberle & The Loft" by clicking here.