Oil and natural gas drilling in U.S. waters

[James48843]

To create jobs in the USA, are you kidding me? We haven't build a refinery in over 30 years I believe the thing should be built RIGHT HERE, DUMMIES!:nuts:

April 19, 2011 · 6:30 AM
Obama Administration to give $2.84 Billion Loan for an Oil Refinery…in Columbia


How many oil refineries could be built right here in America with a $2.84 Billion dollar loan? We will never know because Obama is anti-American oil and pro-foreign oil. Just last month he told Brazil he wanted the U.S. to be a major importer of their oil and now he is loaning Columbia $2.84 Billion taxpayer dollars. Those newly created jobs and oil-based products should be happening here, not in Columbia.
http://scottystarnes.wordpress.com/...billion-loan-for-an-oil-refinery-in-columbia/

How many oil refineries could be built right here in America with a $2.84 billion dollar loan from the Import-Export bank?

Answer: Zero. Why? Because the purpose of the Import Export bank, and the rules of the Import-Export bank, prohibit it from doing so.

http://www.exim.gov/products/policies/econ_impact_proc.cfm

That's not what this U.S. government owned entity is made to do. If it did, I think you'd probably call it a socialist bank and demand it stop financing American industry in competition with private banks. No?

 

[Buster]

See, here's the problem.



They don't finance things WITHIN the U.S. because...are you ready for this..because conservatives reject the idea of government loaning money to U.S. businesses, if it competes with the private sector. So they don't.

What the hell does that mean?..Made no sense what so ever:suspicious:

 

[nnuut]

I agree that Jim is on Obana's side no matter what he does to screw the USA, but what he said is Bassacwards to the truth!

 

[James48843]

What the hell does that mean?..Made no sense what so ever:suspicious:

The conservative position is that government should not be in the business of loaning money to anyone, if it competes with private industry banks or loan companies loaning money.

Is this news to you?

 

[James48843]

I agree that Jim is on Obana's side no matter what he does to screw the USA, but what he said is Bassacwards to the truth!

It is the truth.

 

[nnuut]

It is the truth.

It's the wrong method to pull us out of this hole and he knows it, part of his plan to keep energy prices high to encourage development of alternate sources. By the way there is NOTHING that can replace OIL now or in the foreseeable future, Just plain STUPID I say! That is the TRUTH.

 

[Silverbird]

Ex-IM bank loans of a silly nature (well, silly when you look at the overall economy and not just the equipment being bought - if it's not going to result in a sizable sale for a US company it gets dumped) have been asked for and granted for years. The way for someone out in the public to stop such a loan is to lobby your congressman (and the congressman gets to exim) or send a letter to ex-im. Though of course the petitioner will most likely do the same.

Stop saying it's the President's decision, it isn't. There are so many of these applications he's not going to be checking every one of them, and unless he knows there's a controversial one out there he can't stop it.

That's why all of the notices for the loans are public. Unless someone squawks, most of these go through. But if someone squawks, at least they get a second look, and often then get stopped.