U.S. Govt, Soros Fund Offshore Drilling in Brazil

Thursday, 11 Feb 2010 10:30 AM

By Ralph Hostetter

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The United States has been held hostage for too long by the interests of others in the development of its own petroleum resources. Both President Barack Obama and Congress find ways to prevent America from availing itself of opportunities to exploit offshore drilling.

A recent situation reveals just how ridiculous it has become.

While America suffers restrictions on developing its own oil resources, it apparently is supporting and giving financial guarantees to foreign individuals and organizations in Brazil.

The Wall Street Journal reports: "The United States, through the U.S. Export-Import Bank, has issued a 'preliminary commitment' of $2 billion and more if needed" to Petroleo Brasileiro SA, a Brazilian government-owned oil exploration and development corporation known as "Petrobras."

Petrobras is exploring and developing what has been described as the "huge offshore discovery” of Brazil's Tupi field in Santo Basin near Rio de Janero. According to reports, the site could yield as much as 1 million barrels of oil per day.

The Soros Fund Management LLC holds a stake in Petrobras in the amount of $900 million as of Dec. 31, 2009.

The Soros Fund is headed by U.S. naturalized-citizen George Soros, a multi-billionaire who describes himself simply as an investor.

George Soros' principal investments are in oil; one in particular is Petrobras, the Brazilian-owned company. This happens to be the largest investment in the Soros portfolio at the present time.

Now that word is out that the facilities of the U.S. Export-Import Bank SA is offering guarantees for loans to Brazil's state-owned oil company Petrobras, U.S. citizens are beginning to complain.

Former Alaska Governor Sarah Palin, a vocal proponent of offshore drilling, says, "So why is it that during these tough times, when we have great needs at home, the Obama White House is prepared to send more than $2 billion of your hard-earned tax dollars to Brazil so that the nation's state-owned oil company Petrobras can drill offshore and create jobs developing its own resources?”

George Soros is becoming a central figure in American politics. He is using his billions of dollars and his influence in the energy field to bring about what he identifies as a “regime change” for America, an idea he has promoted for many years. He has called for such a change since the days of George W. Bush.

Soros planned at one point to oust George W. Bush during the president’s reelection campaign of 2004. He spent $25 million in the campaign to elect John Kerry. He stated at the time, defeating President Bush “is the central focus of my life . . . a matter of life and death.” America under Bush, he said, is a danger to the world “and I am willing to put my money where my mouth is.”

To George Soros, regime change means the elimination of the present governing system, in this case, the democratic republic of the United States. That would mean there would be no political parties, no elections, but in place of the American system, he would introduce his Shadow Party.

George Soros, with the help of his brain child, Moveon.org, has created his Shadow Party which awaits his call for the regime change for America.

Soros has had considerable experience in bringing about “regime change” in Europe. In particular, he is given credit for raising of funds in 1989 for a regime change in the Czech Republic when Vaclav Havel was brought to power. He helped engineer “regime changes” in Slovakia, Croatia, Georgia and Yugoslavia.

At the present time, the U.S. dollar is under the most severe international pressure in its history. The U.S. government has exposed itself by creating stimulus packages and issuing currency amounting to trillions of dollars. This is exactly the situation that spoilers such as George Soros have been looking for.

This is a similar scenario which George Soros found in Great Britain in 1992 when he made his first billion by shorting the British pound with leveraged billions in financial bets. He became known as “the man who broke the Bank of England.” It was reported that “he broke it on the backs of hard-working British citizens who immediately saw their homes severely devalued and their life savings cut drastically in comparative worth almost overnight.”

Change has been the watchword of the Obama Administration. One would hope that the emphasis for change does not extend to such a radical movement as a regime change. A regime change would spell the end of America’s democratic republic.


E. Ralph Hostetter, a prominent businessman and agricultural publisher, also is a national and local award-winning columnist. He welcomes comments by email sent to eralphhostetter@yahoo.com.

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