It’s the mother of all boners. Barack Obama gambled the future of the US oil supply on Brazil.
He lost. China kicked his butt.
In March Barack Obama put on his best groveling suit (you know, the same one he wore when genuflecting to the Saudi King) and went off to Brazil looking for foreign oil. The schtick was thick:
Obama started by saying that being in Brazil was a great joy, and thanking his hosts on behalf of his wife Michelle and family for the warm welcome they received.
The US president said it was a pity that he had to come only days after the Carnival but: “my only regret is that we missed the party by coming a few weeks after Carnival. Maybe that’s the best — since I’m not sure I would have had the same level of productivity from my staff”.
While emphasizing US weaknesses, he promised the US would be Brazil’s best customer:
Obama also spoke about energy. “The oil you recently discovered off the shores of Brazil could amount to twice the reserves we have in the United States”, he said, adding that the US want to help Brazil with the technology needed to extract it and, when Brazil is ready to begin selling the commodity, “we want to be one of your best customers”.
That is not to be. Brazil blew off Obama for China instead:
BUENOS AIRES — Off the coast of Rio de Janeiro — below a mile of water and two miles of shifting rock, sand and salt — is an ultradeep sea of oil that could turn Brazil into the world’s fourth-largest oil producer, behind Russia, Saudi Arabia and the United States.
The country’s state-controlled oil company, Petrobras, expects to pump 4.9 million barrels a day from the country’s oil fields by 2020, with 40 percent of that coming from the seabed. One and a half million barrels will be bound for export markets.
The United States wants it, but China is getting it.
Less than a month after President Obama visited Brazil in March to make a pitch for oil, Brazilian President Dilma Rousseff was off to Beijing to sign oil contracts with two huge state-owned Chinese companies.
The deals are part of a growing oil relationship between the two countries that, thanks to a series of billion-dollar agreements, is giving China greater influence over Brazil’s oil frontier.
Apparently deciding that the US needed neither the oil nor the jobs, Barack Obama rejected the Keystone Pipeline.
President Barack Obama’s decision yesterday to reject a permit for TransCanada Corp.’s Keystone XL oil pipeline may prompt Canada to turn to China for oil exports.
Prime Minister Stephen Harper, in a telephone call yesterday, told Obama “Canada will continue to work to diversify its energy exports,” according to details provided by Harper’s office. Canadian Natural Resource Minister Joe Oliver said relying less on the U.S. would help strengthen the country’s “financial security.”
The “decision by the Obama administration underlines the importance of diversifying and expanding our markets, including the growing Asian market,” Oliver told reporters in Ottawa.
Once more, China will be the beneficiary.
Obama is strangling domestic oil exploration with bans and moratoriums pretty much everywhere in the US and at the same time is pouring billions of US tax dollars down the toilet on failed “green energy” projects for his top donors. Then in liquidation Obama made sure his donors got their money before us taxpayers.
No energy, no jobs, no oil. Barack Obama does seem determined to lead the United States into becoming a third world nation while making certain China prospers.
Change is….absolutely necessary.