Friday, January 15, 2010

Fw: Fw: Unbelievable

Can you believe this?

This is a perfect example why I refrain from watching the news on ABC, NBC, CBS, or MSNBC. Today on a segment of the "Glen Beck Show" on FOX (Fox Cable News) was the following:

"Today, even though President Obama is against off shore drilling for our country, he signed an executive order to loan 2 Billion of our taxpayers dollars to a Brazilian Oil Exploration Company (which is the 8th largest company in the entire world) to drill for oil off the coast of Brazil ! The oil that comes from this operation is for the sole purpose and use of China and NOT THE USA !

Now here's the real clincher... the Chinese government is under contract to purchase all the oil that this oil field will produce, which is hundreds of millions of barrels of oil".

We have absolutely no gain from this transaction whatsoever!

Wait, it gets more interesting.
Guess who is the largest individual stockholder of this Brazilian Oil Company and who would benefit most from this?

It is American BILLIONAIRE, George Soros, who was one of President Obama's most generous financial supporter during his campaign.

If you are able to connect the dots and follow the money, you are probably as upset as I am. Not a word of this transaction was broadcast on any of the other news networks!

Forward this factual e-mail to others who care about this country and where it is going. Also, let all of our Government representatives know how you feel about this.

This is indeed unbelievable, because it's not true. As usual, has the full smackdown. Like many of these, the lies are wrapped around a grain of truth: a $2 billion loan commitment was made by the U.S. Export-Import Bank to the Brazilian oil company Petrobras. But here are the relevant facts in brief:
  • No executive order was made, nor was one required, to make this loan.
  • This commitment was made by the bank's board of directors, which comprised three Republicans and two Democrats, all Bush appointees.
  • The purpose of the loan is to finance Petrobras' purchase of American goods and services for oil exploration. (That's the purpose of the Export-Import Bank, to facilitate American exports, helping domestic American companies sell their goods abroad.)
  • The $2 billion does not come from taxpayer dollars. The Export-Import Bank is a self-sustaining institution.
  • Soros does have investments in Petrobras, along with many other oil and energy companies, but he in fact substantially reduced his stake in Petrobras last August.
  • This transaction has no particular connection to China, except that Brazil exports oil to China.
But hey, don't let the facts get in the way of a good story.

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