Barack Obama’s recent lauding of Brazil’s oil industry and their “technology” while bringing U.S. exploration, research and drilling to a stop, has turned and churned the stomachs of many of us. In this video, Steven Crowded expresses our angst in his own creative way, and say “America has over 163 BILLION barrels in untapped oil reserves, enough to replace our imports from the Persian Gulf for over 50 years.”
According to the CIA World Factbook, Brazil is the second largest CONSUMER of cocaine in the world. The economy of Brazil is the healthiest of all South American countries and expanding rapidly. They are the seventh largest economy by GDP and purchasing power, in the world.
The state-owned Petrobras Oil and Gas is their largest company. In 2009 Obama loaned the company BILLIONS of dollars – but no easing on regulations to stop the exploration and drilling in the U.S. During the Obama family 2011 Spring Break, Obama defended our loan to Brazil, saying:
Brazil is a poor country,” Obama observed. “They need the money more than we do. By letting them get the oil we can become their customers and help them create jobs and build up their economy.
It [Brazil] is also one of the few countries that have successfully managed to reduce economic inequality at a time when everywhere else inequities are deepening. Successive Brazilian governments, of rival political parties, have succeeded in improving education, health and the living standards of millions of impoverished citizens who have now joined a growing middle class. Brazil has an energy policy that has spawned the world’s most vibrant biofuels industry. In 1995, 15 percent of Brazilian school-age children did not go to school. In 2005, this fell to 3 percent, and today Brazil has practically achieved universal basic education.”
Steven Crowder on Brazil and Obama Oil Drilling Regulations