UPDATEx3: Disaster In More Ways Than One

Ecological, economical, long term.

And not just to Louisiana, although they were hit first. (Over two months now.)

There are numerous (35?) drilling platforms affected by the POTUS’ oil drilling moratorium.

Millions of dollars per day is negatively affected. Jobs to be lost. Platforms will be lost also. What will this do to our supply chain? (As if I didn’t know.)

Now, Louisiana Governor Jindal is battling the moratorium in the courtroom. As he should.
In fact, I would think other governors should join with him.

(NOTE: A friends tells me this bit about what I heard on Glenn Beck’s show may not be quite factual. I will check into this and post what I find out. What did I hear on Glenn Beck tonight about our government giving a $2B loan to Brazil’s oil drilling – which will be even deeper than the Deepwater Horizon?? Why are we giving them money we don’t have – to do something we are turning off? Excuse me, the POTUS is turning off.)

UPDATE: “Oh, no you don’t.” “Oh, yes we will.” In the meantime, local businesses there are in the middle – not being squeezed so much – but more like a taffee pull.

UPDATEx2: Well, it looks like the federal judge is NOT going to delay his ruling that DOJ wanted him to do. Which means the moratorium is dust. For now. Let’s hope.

UPDATEx3: As promised, here are some additional references to Beck’s claim (above). It appears that Beck painted the situation with a rather broad brush. Here you go:

In fact, the Export-Import bank receives no appropriations from Congress and thus does not rely on American taxpayer dollars and is also not “sending” $2 billion to the Brazilian company but offering lines of credit to U.S. firms so they can compete to land contracts as part of Petrobras’ drilling operations.


The U.S. government is preparing to provide up to $10 billion in loans to finance the development of massive hydrocarbon reserves off Brazil’s coast thought to contain 80 billion barrels of high-quality crude, an amount that could lead to a six-fold increase in Brazil’s current proven reserves and transform that nation into one of the world’s 10 largest oil producers.

Well, I still have questions about these lines of credit and loans … I mean, given our own country’s economic situation.


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