Deepwater-Gate

September 24, 2011 5:00 am 0 comments

A significant event has escaped serious media coverage.  Few are aware that, despite his posturing on deepwater drilling, President Obama has sunk billions of American taxpayer dollars into Petrobras, a nascent Brazilian oil exploration company.  Considering that President Obama consistently alleges deepwater drilling to be unsafe, this turn of events seems the ultimate ethical contradiction.  Moreover, it appears that President Obama coordinated this taxpayer-funded investment with a large stock acquisition by leftist billionaire and valued campaign-contributor George Soros.  Combined with Obama’s virulent attack on the US oil sector, culminating in a highly illegal ban on drilling, it would appear that Obama is misappropriating government funds to enrich a campaign financier, and possibly himself, with taxpayer dollars.  In fact, it is known that Mr. Soros positioned himself to begin reaping dividends just days before Obama announced the $2 billion US commitment to Petrobras.

More chilling still, are the recent reports that the oil obtained by Petrobras is promised to China, the nation that holds a majority of US debt and may have fired a missile within range of Los Angeles within the past year.  After speaking with Brig. Gen. Jim Cash (Ret.), former director of NORAD, this writer can confirm that the alleged “mystery missile” observed recently was indeed a missile.  Cash believes the missile to be Chinese, and most likely submarine-launched.

If current facts are any indicator, the Petrobras scam is as follows:  using his legal authority as president, Obama will divert all oil wealth from the Gulf of Mexico to Brazil, i.e. Petrobras, enriching a favored benefactor.  What does Obama gain from this generous favor?  It is logical to presume that whatever Obama gains will be of intrinsic value.  This gross abuse of power is so scandalous that it deserves a name:  Deepwater-gate.

Despite the scarce media coverage, aside from political pariah Glenn Beck, this scheme has run into a few snags:  the American courts are determined to protect the American people from this overt government malfeasance.  Several federal rulings countermanded the ban. But in total disregard for the law and the US Constitution, President Obama flaunted court rulings requiring a lift on the infamous drilling ban, reclassifying the ban and refusing to approve new drilling requests.

In stark contrast to the demagoguery surrounding the BP oil spill and fueling the Obama drilling ban, all deepwater rigs passed new safety inspections immediately following the BP disaster, and on a purely historical basis, accidents in that part of the Gulf have become exceedingly rare.  In all of Hurricane Katrina, only minor spills were reported, and certainly no accidents large enough to disrupt the economy.  If the drilling “moratorium” is allowed to survive, Texas energy sector employees will be hit hard.  Oil and natural gas extraction supports over 80,000 jobs in Texas alone, and a full 100,000 support jobs in related industries.  Surely President Obama and his officers wouldn’t intentionally create a scenario demanding the wholesale destruction of a lucrative, job-creating industry?  Surely, these seemingly connected events are all mere coincidence?

To quote former Secretary of Defense James Forrestal, “These men are not incompetent or stupid. If they were merely stupid, they would occasionally make a mistake in our favor.”

Remember the financial crisis?  The system was arguably designed to fail.  The Carter-era Community Reinvestment Act (CRA), combined with Clinton-era regulations requiring loans to patrons who could not pay, forced the creation of toxic financial instruments called subprime mortgages.  Banks and lending institutions faced lawsuits and bad marks from the Federal Reserve, threatening to curtail economic expansion into other markets, if they did not comply with these suicidal moves.  Then, when subprimes defaulted and caused the 2008 worldwide financial meltdown, the Democrats in Congress, who had opposed financial reform when it might have stopped the crash, rushed to offer big government takeovers as the solution to economic woes.

Americans are expected to forget that government institutions, i.e. Fannie Mae and Freddie Mac, were the underlying reason the financial contagion that consumed the savings of millions was even possible.  This is because mortgage-lending institutions were allowed to sell toxic loans to Fannie Mae and Freddie Mac, who then bundled these assets and sold them to eager investors.  And the Democrats reaped huge profits from this negligence.  President Obama and several of his economic advisors were top beneficiaries.  Should we now be surprised that Team Obama is running yet another scam, this time out of the White House?  After all, who is going to oppose “drilling safety” if given enough provocation, even if it means satisfying all domestic energy needs with foreign oil?

In point of fact, evidence exists that the prominent, Soros-funded Center for American Progress (CAP) fed the Obama Administration nearly every policy response to the Gulf-oil spill, and Team Obama followed these instructions to the letter.  When a campaign financier says “jump,” Obama says, “How high?”

As with any suspicious, illogical, or seemingly inexplicable problem, the answer is always to follow the money.  And Deepwater-gate has left quite a big trail.

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