White House says 'drill, baby, drill' – in Brazil

An energy analyst says he cannot understand why the Obama administration is borrowing money to lend money to Brazil so it can conduct oil drilling off its eastern coast, yet will not support oil drilling in American waters. The Wall Street Journal reports that the Obama administration has agreed to lend billion to Brazil's state-owned oil company, Petrobras, to finance oil exploration off the country's coast near Rio de Janeiro. The U.S. Export-Import Bank has issued a "preliminary commitment

Read this article...