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Now that the legal mumbo jumbo is outta the way...

Saturday, July 10, 2010

More money for Petrobras

Ran across this in an investment email newsletter I get:

"Last year China also became Brazil’s number one trading partner when it agreed to lend $10 billion to Petrobras in return for guaranteed oil supply over the next decade. Other projects between China and its South American BRIC counterpart included a $5 billion steel plant at the Acu port in Rio de Janeiro state. That deal represents China’s largest ever investment in Latin America’s richest resource economy and its biggest foreign steel-plant investment."

So George Soros is now also making money from China! And Petrobras will be making HUGE money from China. Guess that's why Petrobras has been greedily buying up all the idle oil drilling platforms they can find. When Obama put the moratorium into place they were negotiating for all those put in limbo in the Gulf. Luckily a judge ruled against him, so we may save those.

Funny thing about those platforms. They cost millions just to let sit. So the owners will move them elsewhere. Once they are moved you can bet they won't come back anytime soon. Those would have been permanently lost jobs if the President had won. I'm sure it's not over yet.

And now, BP has been instructed that before they sell any significant assets they have to clear it with Washington first? Ok, BP should be made to pay for this disaster, but they may just need to sell off some assets to finance these claims. How can Washington think they have this authority? And where does it stop?

7 comments:

J Cooper said...

Hopefully we can at least apply the breaks in NOV.If not WE'Z SKREWED!!

Does anyone else think the oil eruption in the Gulf may not have been an accident.Just sayin!!

Auntie Em/Libertarian Woman said...

From day one Coop, from day one.

Infact I got a little concerned when The Great O said we should do more nuclear power....

butt likesboobies neckid said...

petro BRAS!!! whadafa???? I'm confuzzied....

$10 billion??? those must be S O M E B O O B I E S !!!!!!!

J Cooper said...

EM ,answer that please!!!

Auntie Em/Libertarian Woman said...

Which question? Was the BP spill an accident, we may never know unless someone makes a dying bed confession.

Petrobras - it's a Victoria's Secret special.

Auntie Em/Libertarian Woman said...

I wrote about this somewhere else, but Petrobras is the Brazil oil company, one of the major stock holdings of George Soros.

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