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March 25th, 2011
America's Drilling Moratorium Opens Drilling for Brazil

Energy Policy: While leaving U.S. oil and jobs in the ground, Obama tells a South American neighbor that we'll help it develop its offshore resources so we can one day import its oil. Wait...WHAT?!?

With Japan staggered by a natural disaster and a nuclear crisis, cruise missiles launched against Libya in our third Middle East conflict and a majority of U.S. senators complaining about a lack of leadership on the budget, President Obama decided it would be a good time to schmooze with Brazilians.

His "What, me worry?" presidency has given both Americans and our allies plenty to worry about. But in the process of making nice with Brazil, Obama made a mind-boggling announcement that should make even his most loyal supporter cringe:

We will help Brazil develop its offshore oil so we can one day import it.

We have noted this double standard before, particularly when at a time when the president was railing against tax incentives for U.S. oil companies we supported the U.S. Export-Import Bank's plan to lend $2 billion to Brazil's state-run Petrobras with the promise of more to follow.

Now, with a seven-year offshore drilling ban in effect off of both coasts, on Alaska's continental shelf and in much of the Gulf of Mexico and a de facto moratorium covering the rest...

Obama tells the Brazilians:

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

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.

In an op-ed in USA Today explaining his trip, Obama opined: "Brazil holds recently discovered oil reserves that could be far larger than ours. And as we seek to increase secure-energy supplies, we look forward to developing a strategic energy partnership." 

Obama is, in effect, drilling the tubes in which the country will go down in.


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