Does it get any more unusual than having a President of the United States shut down deep water drilling in the U.S. while informing Brazil that we will assist them with their drilling? The U.S. taxpayers have already given Petrobas, the Brazilian oil company, 2 billion dollars in loan guarantees for their drilling efforts. Petrobas plans to drill 14,000 feet down in case you are wondering if they are conducting deep water drilling operations. President Obama is also going to let Cuba drill in the Gulf. Since there are no controls, Cuba can syphon the oil from our ocean floor and if they have a problem similar to BP, it is doubtful they will make the reparations made by BP.
President Obama, on his recent trip to Brazil, said, “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.”