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After thousands of jobs and billions in lost wages since the Gulf of Mexico drilling moratorium,...

After thousands of jobs and billions in lost wages since the Gulf of Mexico drilling moratorium, why is Pres. Obama encouraging Brazil to drill for oil while failing to do the same in the U.S.? (video: I, II)
Comments (63)
  • 7footMoose
    , contributor
    Comments (2266) | Send Message
     
    Haven't you ever heard of "Do as we say not as we do."
    22 Mar 2011, 06:29 PM Reply Like
  • anarchist
    , contributor
    Comments (1513) | Send Message
     
    Royal Dutch Shell (RDS.A +1.1%) receives U.S. approval to drill three new exploratory wells in the Gulf of Mexico, the first deepwater oil and gas exploration there since the BP disaster. The government had previously only approved plans for wells that were already in operation or under construction before the moratorium. Citi reiterates Buy ratings on DO, NBL, RIG
    22 Mar 2011, 06:43 PM Reply Like
  • halconnoche
    , contributor
    Comments (68) | Send Message
     
    He wants to be president of the world.
    22 Mar 2011, 06:33 PM Reply Like
  • 1980XLS
    , contributor
    Comments (3333) | Send Message
     
    Halconnoche,

     

    I think He may believe he was elected President of the United Nations (Given His Nobel Prize and such) instead of President of The United States of America.
    22 Mar 2011, 08:03 PM Reply Like
  • pdxinvestor
    , contributor
    Comments (7) | Send Message
     
    NIMBY
    22 Mar 2011, 06:42 PM Reply Like
  • 1980XLS
    , contributor
    Comments (3333) | Send Message
     
    PDXinvestor,

     

    Is that a ticker symbol? I could not find the Security. LOL

     

    Perhaps somebody should start an ETF with the trades associated with that concept.

     

    It could be a very easy, profitable trade, for as long as Obama is in place, it should be easy to decipher what equities will likely be damaged.
    22 Mar 2011, 07:04 PM Reply Like
  • Neil459
    , contributor
    Comments (2644) | Send Message
     
    Obama wants everyone to like him. In the US, the awe is automatic by the media, no action required. But in the rest of the world, he has found that their media are more discerning, don't swoon to his rapturous voice, and that he has to buy them with some acceptable actions to make up for his terrible first two years where he thought he could fool them like he does the American media.
    22 Mar 2011, 06:47 PM Reply Like
  • 1980XLS
    , contributor
    Comments (3333) | Send Message
     
    Because the environmentalists in Brazil (If Any) don't get to vote in the 2012 US elections. (don't forget, their Gov't is the major shareholder in Petrobras)

     

    Despite this, he is smart enough to know that the economy needs oil to keep rolling along. But he does not have a problem if it gets more expensive, as it promotes "The Agenda"

     

    Just don't ask for the tariff to be lifted on the more efficient, Brazilian, Sugar Cane Ethanol.

     

    That would not sit well come the Iowa Caucuses.
    22 Mar 2011, 06:48 PM Reply Like
  • wyostocks
    , contributor
    Comments (8906) | Send Message
     
    You all just don't get it.
    Obama came to office apologizing for America .
    His agenda is to be real cool and step by quiet step bring America to its knees just like all the other countries of the African and European continents.
    He said right from the start that America should apologize to the world and just be like all the other folk in the UN.
    Forget all those inconvienient graves of Americans who died on foreign soil. As Reverend Wright said, damn those american bastards.
    22 Mar 2011, 07:01 PM Reply Like
  • phoneranger
    , contributor
    Comments (350) | Send Message
     
    'inconvienient graves of Americans who died on foreign soil' Wyo you really are going to have to explain this remark.
    22 Mar 2011, 07:20 PM Reply Like
  • wyostocks
    , contributor
    Comments (8906) | Send Message
     
    He doesn't give a damn. Thats what. Simple enough for you?...............
    22 Mar 2011, 07:37 PM Reply Like
  • phoneranger
    , contributor
    Comments (350) | Send Message
     
    No really I am serious. Which Americans are you talking about? The ones in France in WWI or WWlI or Somalia '93. Which ones are you talking about? Lot of Americans died on foreign soil. Some in good wars. Some stupid ones. Some were heroes, some cowards but most just 'collateral;. We don't honor them by endorsing the mistakes of their leaders. IMO it's too easy to use their sacrifices to cover up the mistakes of their 'leaders'.

     

    If W made a mistake in Iraq or BHO in Libya, those are their mistakes plain and simple. Their mistakes are measured in lives and treasure. Not validated by the losses.
    22 Mar 2011, 09:31 PM Reply Like
  • cynic2011
    , contributor
    Comments (652) | Send Message
     
    It makes sense to let everyone else exhaust their oil reserves while the US preserves its own. It's more efficient than the SPR
    22 Mar 2011, 07:02 PM Reply Like
  • 1980XLS
    , contributor
    Comments (3333) | Send Message
     
    Cynic,

     

    Yes,

     

    A concept that I have referenced here before but never discussed much by politicians or the media.

     

    Buy from them while it's still cheap (relatively) and with Fiat currency no less, and thereby save your own resources for the future.

     

    Like when one goes out to dinner with the wife and is told, lets use "Your Money" to pay the Tab.
    22 Mar 2011, 07:21 PM Reply Like
  • Paul H. M.
    , contributor
    Comments (1035) | Send Message
     
    Exactly. People think too short term. Obama is thinking long-term.
    22 Mar 2011, 07:47 PM Reply Like
  • HA65MPH
    , contributor
    Comments (1367) | Send Message
     
    Kingship , is just ahead ..JMHO
    22 Mar 2011, 08:02 PM Reply Like
  • wyostocks
    , contributor
    Comments (8906) | Send Message
     
    Enjoying the Kool Aid today, are ya?
    22 Mar 2011, 08:28 PM Reply Like
  • HA65MPH
    , contributor
    Comments (1367) | Send Message
     
    paul , long term for obammanation , is election 2012 !!!
    23 Mar 2011, 12:39 AM Reply Like
  • tigersam
    , contributor
    Comments (1711) | Send Message
     
    Obama is a smart man and he is one of the best president in recent history.

     

    I do not want to deplete my precious resource. Let's finish somebody's else first and then we sell with high price.
    22 Mar 2011, 07:17 PM Reply Like
  • wyostocks
    , contributor
    Comments (8906) | Send Message
     
    You are lost.....................
    22 Mar 2011, 07:35 PM Reply Like
  • 7footMoose
    , contributor
    Comments (2266) | Send Message
     
    Where the F____ have you been hiding for the last two years?
    22 Mar 2011, 07:47 PM Reply Like
  • Good Captain
    , contributor
    Comments (456) | Send Message
     
    I'll grant you that the President is smarter than my cat, but only by a whisker. Seriously folks, to those enamored by the current occupant of the White House, can you please clue the rest of us in on the things/accomplishments that we unfairly overlook or deny him?
    22 Mar 2011, 10:37 PM Reply Like
  • HA65MPH
    , contributor
    Comments (1367) | Send Message
     
    Good Capt. ...they ''' are as clueless ''' as he is !
    23 Mar 2011, 12:41 AM Reply Like
  • tigersam
    , contributor
    Comments (1711) | Send Message
     
    Can I borrow your GPS?
    23 Mar 2011, 06:40 AM Reply Like
  • tigersam
    , contributor
    Comments (1711) | Send Message
     
    Trading Stocks and making money. Never made money with previous president.
    23 Mar 2011, 06:40 AM Reply Like
  • tigersam
    , contributor
    Comments (1711) | Send Message
     
    Because of him you are not under George Washington Bridge holding cup and asking for spare change.
    23 Mar 2011, 06:42 AM Reply Like
  • jpiretti
    , contributor
    Comments (712) | Send Message
     
    The American Recovery and Reinvestment Act was passed in 1st Qt. 09'. Since then GDP has responded accordingly while private sector employment has gone parabolic, so much that the gains in private sector employment in 10' have exceeded all private sector gains in the previous administration. Causation or correlation?...I am sure you have your opinion already etched in stone, but should I be happy or sad?

     

    www.cbpp.org/cms/index...

     

    Having said that, there is a lot I disagree with this administration...I am still happy Phil Gramm is not Secy of the Trsy.

     

    losangeles.injuryboard...

     

    www.baltimorechronicle...
    23 Mar 2011, 08:49 AM Reply Like
  • 7footMoose
    , contributor
    Comments (2266) | Send Message
     
    Surely your first paragraph is sarcasm because you cannot believe that," private sector employment has gone parabolic".
    23 Mar 2011, 09:05 AM Reply Like
  • 1980XLS
    , contributor
    Comments (3333) | Send Message
     
    7foot,

     

    Perhaps he is looking at the charts upside down if not sarcastic?
    23 Mar 2011, 09:10 AM Reply Like
  • jpiretti
    , contributor
    Comments (712) | Send Message
     
    Are you challanging the validity of the chart? In March 09' (Act passed)we lost 700k+ private sector jobs. 2 months later those losses were cut in half and in 10' we added 1.3M private sector jobs. I am sure you have data to dispute the chart...correct?
    23 Mar 2011, 09:46 AM Reply Like
  • jpiretti
    , contributor
    Comments (712) | Send Message
     
    Sorry...that is 1.5M private sector jobs over the last 12 months...straight from the BLS...I now await the BLS conspiracy theories.
    23 Mar 2011, 10:02 AM Reply Like
  • 1980XLS
    , contributor
    Comments (3333) | Send Message
     
    The charts source is questionable IMO.

     

    I was actually injecting a little humor. Sorry.

     

    But, while everybody knows there has been improvement and some growth in the economy, as well a slight improvement in the employment situation, to describe private sector job growth as 'Parabolic" would be a bit comical. Hence, me being enticed to inject a little humor into the conversation.

     

    The Fed's intoduction of QE2 was not put in place as a response to "Parabolic" private sector job growth, I can assure you.

     

    I don't need to even look at the charts for that.
    23 Mar 2011, 10:07 AM Reply Like
  • Good Captain
    , contributor
    Comments (456) | Send Message
     
    I take your reply TSam as a no.
    23 Mar 2011, 11:23 AM Reply Like
  • 7footMoose
    , contributor
    Comments (2266) | Send Message
     
    Yes the term "parabolic" is the source of the sarcasm. I would more likely be inclined to agree with the statement that the actions taken by the government halted a parabolic decline in jobs. That is, if there even is such a thing as a downward parabolic.
    23 Mar 2011, 12:04 PM Reply Like
  • Joe Morgan
    , contributor
    Comments (1548) | Send Message
     
    SA would not censor me...so here is again my comment:

     

    How is change working for you?

     

    Do you remember how the liberals chastised Bush because of his war mongering?

     

    Where is the outcry now, where are those voices now? Why the hypocrisy?

     

    Ironic doesn't it...a Nobel Peace winner ordering the attack on Libya?

     

    Ironic doesn't it...that Obama promises a better future for the middle class, but in the process it is damaging the very foundation our economy?

     

    In other notes; buy oil companies that would benefit from Obama mistakes...buy CVX, COP....etc....
    23 Mar 2011, 12:29 PM Reply Like
  • Doc 224899
    , contributor
    Comments (934) | Send Message
     
    In March 2009 the American economy was dropping rapidly past the face of the cliff, the top of which it had just dropped from.

     

    By May 2009 we were seeing paper written to formalize the bankruptcy of GM and Chrysler and the rate of decline was starting to slow up in some regards as little bits and pieces of the economy started to bounce off the bottom of the barrel. That didn't mean things were getting better. That meant you can only bleed a corpse so much, then it's dry.
    25 Mar 2011, 07:10 AM Reply Like
  • 1980XLS
    , contributor
    Comments (3333) | Send Message
     
    Parabolic Job Growth

     

    www.myfoxboston.com/dp...
    25 Mar 2011, 04:10 PM Reply Like
  • 1980XLS
    , contributor
    Comments (3333) | Send Message
     
    For every private job destroyed, Obama has created at least 2 jobs within the Federal, State and Local Government sector.

     

    What? Everybody wants jobs, no? Isn't that what everybody says we need? Jobs.

     

    These are good jobs. High paying, Union Jobs, no less.
    22 Mar 2011, 07:49 PM Reply Like
  • George Fisher
    , contributor
    Comments (1708) | Send Message
     
    The problem with not being self sufficent in energy is the sucking sound of our standard of living going overseas. Keep in mind every recession since the early 1970 has been after a spike in oil prices - gosh maybe there is a cause an effect there, ya think?

     

    I remember the odd-even days of filling your gas tank and the long lines even on the proper days. Can we say, "Oil Embargo"?

     

    But then again, inorder to make alternative energy "competitive" so we can import more German and Chinese good, the price of traditional energy needs to go up - substantially. That is the underlying goal.

     

    Look at last week's EPA regs on coal. That brainchild might reduce national electrical output by 10% - 75 gigawatts - by the end of the decade. How is this capacity to be made up, in addition to the capacity growth needed to keep up with a growing population and economy? Gosh 75 gigawatt can be easily generated if we put solar panels on every sq inch of Rhode Island (8-12 acres/mw per solarbythewatt.com)
    22 Mar 2011, 07:52 PM Reply Like
  • Econdoc
    , contributor
    Comments (2944) | Send Message
     
    I usually try to refrain from the political but this time I cannot. No alpha here....

     

    The President does not have a lot of backbone and has trouble not pandering. He is an habitual panderer.

     

    True to his convictions he would abolish tariffs on Brazilian ethanol - which can land into the US at less than can be produced from corn in the mid-west. A win win all around.

     

    But he cannot because he is a spineless panderer

     

    True to his convictions he would propose a hike in the gasoline tax from 18 cents to over $1. This has the impact of reducing demand and raising revenue to fill budget gap. A win win all around.

     

    But he cannot because he is a spineless panderer

     

    Instead he announces a go ahead on Gulf drilling only to reverse himself with a knee jerk moratorium without any basis or information other than a loss of nerve.

     

    The list is long with this guy. Health care - how ridiculous that was. You know...if you want to introduce something radical - just do it. Go with the government run healthcare that provides catastrophic and basic coverage - very limited for all - create a tax to pay for it - no opt outs - then let private companies offer extra coverage - at a cost - people can choose it or not. That would be radical - that would actually work - people might complain - might not like it - but it is better than the unholy mess that is not going to accomplish the goals and cost an arm and leg. And if you are going to have to ration care because it is too costly - just say you are. It is the truth - instead of fudging it.

     

    His budget. Why did he bother. Really.

     

    Even Liby - blah, blah blah the US is taking a back seat, not in the lead, etc. etc. etc. Is he high? Dose he really beleive this?

     

    The issue with Obama is not that he may or may not be socialist - I don't care about that - Americans don't understand what socialism is - or that he is a Democrat - are they really different to Republicans - or even that he hates big business - or that he has never run anything. None of that should mean he cannot be a great President. The real problem with him is that if you scratch the surface - if you get skin deep - he doesn't actually believe in anything...

     

    "there is no there, there". That's the core of the problem. Whereas with W - you got a whole lot of conviction - much of it wrong headed - with this guy - you don't have much except slogans and pretty pictures. No mistakes but then show me someone who has never made a mistake and I will show you has been asleep their entire life.

     

    E
    22 Mar 2011, 08:31 PM Reply Like
  • 1980XLS
    , contributor
    Comments (3333) | Send Message
     
    Econdoc,

     

    I agree with most of what you said. Good rant.

     

    With the exception that you claim to usually "Refrain from the Political"
    22 Mar 2011, 09:20 PM Reply Like
  • HA65MPH
    , contributor
    Comments (1367) | Send Message
     
    Endoc ..ya THINK ! ..LOL..Regards ..
    22 Mar 2011, 09:35 PM Reply Like
  • HA65MPH
    , contributor
    Comments (1367) | Send Message
     
    endoc, '''
    "there is no there, there".. You got that right , never was , never will be , .I can only hope when he '' gets to hell'' there will be ..No teleprompters ..HE CAN ''BABBLE AWAY .. NOT A BRAIN CELL IN THERE , ANY WHERE ..JMHO
    23 Mar 2011, 12:46 AM Reply Like
  • westerner
    , contributor
    Comments (215) | Send Message
     
    In 2009 the US increased year over year oil production by 260,000 b/d. The biggest year over year increase since 1970. It looks like there will be an additional increase in 2010 when final figures are in.

     

    The eight years of the previous administration saw a net annual loss of production.

     

    If you want more US oil better hope Obama is reelected.
    22 Mar 2011, 09:01 PM Reply Like
  • HA65MPH
    , contributor
    Comments (1367) | Send Message
     
    westerner , ..lay off the sauce '
    22 Mar 2011, 09:36 PM Reply Like
  • 867046
    , contributor
    Comments (398) | Send Message
     
    The usual lack of depth anti-Obama comments.

     

    Logical possibilities are the following:

     

    1) Drilling in the GOM and in Brazil are not mutually exclusive.

     

    2) Even the totally clueless understand that Brazil is politically more stable than the ME and therefore a more secure oil source.

     

    3) Obama has to try to fence out China to some degree and he is the best POTUS to do this. For all you mentally static types, Brazil is an up and coming power, it's in our national interest to be close to Brazil.

     

    4) The election of Obama has generated tremendous goodwill in the world, which you may recall is majority non-european. This can be only good. Elderly white geezers generate limited empathy. This is no different than any modern multinational.

     

    5) There maybe some biz for US drillers and infrastructure types.
    22 Mar 2011, 09:12 PM Reply Like
  • HA65MPH
    , contributor
    Comments (1367) | Send Message
     
    You an westerner , lay off the sauce !!
    22 Mar 2011, 09:37 PM Reply Like
  • wyostocks
    , contributor
    Comments (8906) | Send Message
     
    Point 1: Agree; so do both.
    Point 2: More secure than Alaska or the Gulf?
    Point 3: The best POTUS? With whom? Kool Aid bunk.
    Point 4: Goodwill? Kool Aid bunk.
    Point 5: Agree.
    22 Mar 2011, 09:52 PM Reply Like
  • 1980XLS
    , contributor
    Comments (3333) | Send Message
     
    Westerner,

     

    It takes a little while for a new administration's policies to take effect.

     

    2009 was likely not Obama. Just continuation of a trend from those previous.

     

    If Obama was responsible, why were they able to blame EVERYTHING negative during 2009 on GWB?

     

    Sorry, can't have it both ways.
    22 Mar 2011, 09:16 PM Reply Like
  • been there
    , contributor
    Comments (80) | Send Message
     
    look obamas brother lives in a 4 by 4 hut on 20 dollars a year. does anybody with a brain thinks obama gives a shit about middle class Americans all he wants is for more people to be dependent on the govt and be in charge of the govt that will dispense the life sustaining benefits to the right thinking (left) people.
    22 Mar 2011, 09:20 PM Reply Like
  • Fueled By Randomness
    , contributor
    Comments (292) | Send Message
     
    George Soros has a big stake in Petrobras. George Soros is a big Obama backer. Just sayin'.
    22 Mar 2011, 10:12 PM Reply Like
  • Stun57
    , contributor
    Comments (43) | Send Message
     
    An Emperor says to his advisor, "I fear the people do not appreciate me." The advisor replies, "Sire, the people have too much."
    22 Mar 2011, 10:30 PM Reply Like
  • Bozerdog
    , contributor
    Comments (464) | Send Message
     
    just drill more, relax regulation, lower taxes, cut public education everything will be fine
    22 Mar 2011, 10:43 PM Reply Like
  • JohnBinTN
    , contributor
    Comments (4024) | Send Message
     
    Couldn't hurt. Unless of course they didn't cut public education...
    22 Mar 2011, 10:52 PM Reply Like
  • Good Captain
    , contributor
    Comments (456) | Send Message
     
    Actually Bozerdog you get a 75 (3 out of 4). Drilling more at home instead of just Brazil will help on all fronts and increase gov't revenues through increased royalties (which should become standard part of all federal leases if they already aren't) and an increase employment. Relaxing key regulations on a case by case basis could absolutely improve productivity and in some cases potentially attract new jobs. Lowering income taxes actually results in time in the increase of tax revenue which is something that would be useful in an age of $ trillion deficits. I am against decreasing $ to the classroom but would support the substantial gutting of needless middle management in the bloated school bureaucracies. All in all, not bad, even if done sarcastically.
    22 Mar 2011, 10:58 PM Reply Like
  • HA65MPH
    , contributor
    Comments (1367) | Send Message
     
    gotta ''cut-slash '''public ''education ''' look what it produced , THE CONGRESS & (*%^ IN THE WHITE HOUSE , ..Of course , he got Grants , etc. , because he was a foreigner'''''yep , ..a 'non- citizen , still is , always will be .
    23 Mar 2011, 12:54 AM Reply Like
  • HA65MPH
    , contributor
    Comments (1367) | Send Message
     
    ALMOST , Capt. , .. Gut the UNIONS ..
    23 Mar 2011, 12:56 AM Reply Like
  • Herr Hansa
    , contributor
    Comments (3083) | Send Message
     
    This is absolutely the most worthless thread I have yet seen on Seeking Alpha. This is supposed to be a financial reporting news source, not a political forum. There is not one comment in this thread that would be of any use to someone who wants to make investment decisions.

     

    There are a number of great companies involved in oil, oil exploration, and oil services. Many are great investments. Many are global and not solely dependent upon business in Brazil nor the US.

     

    Disclosure: if I wanted politics discussions I would go to a political forum. I am happily invested in many oil related companies.
    23 Mar 2011, 01:34 AM Reply Like
  • Paine in America
    , contributor
    Comments (20) | Send Message
     
    > I am happily invested in many oil related companies

     

    Obviously happier than those who were bankrupted and/or lost their rigs after being chased out of a job in the USA.... A travesty at best, as Government is only there to remove barriers to jobs and prosperity...

     

    >There is not one comment in this thread that would be of any use to someone who wants to make investment decisions.
    >if I wanted politics discussions I would go to a political forum

     

    You can't be serious...
    23 Mar 2011, 05:20 AM Reply Like
  • Herr Hansa
    , contributor
    Comments (3083) | Send Message
     
    What possible investment advice do you get from this thread? What decisions have you made based on investments based upon politics? What gains have you made in the last two years?

     

    I am in Houston many times each year, and have many friends in the oil industry. What companies are you referring to that went bankrupt?
    23 Mar 2011, 02:09 PM Reply Like
  • Doc 224899
    , contributor
    Comments (934) | Send Message
     
    Globalists like Obama and Soros redistribute wealth from America to developing countries. That pattern is consistent with less drilling in the Gulf of Mexico in American lease areas and more drilling in Brazil.
    23 Mar 2011, 06:47 AM Reply Like
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