Vitter Questions Obama's Oil Policy

Senator David Vitter (R-LA), reinvigorated his pursuit Friday for the reasons behind why Barack Obama and his administration are providing Brazil and other South American countries money to produce oil.  In a letter released Friday to the president of The Export-Import Bank of the United States (ExIm), Fred Hochberg, Vitter asked what the United States can hope to get in return for these investments.

The Export-Import Bank of the United States has loaned Brazil’s state-owned oil company, Petrobras, and Columbia’s national oil company, Ecopetrol, $2 billion and nearly $1 billion respectively.

“I would appreciate a full accounting of the return on these ‘investments’ ExIm has been making as we develop domestic energy policy in a period when gas prices are above $4/gallon and American families and businesses suffer,” he wrote in the letter. “These loans may well create numerous jobs domestically for U.S. businesses to sell product overseas. However, there is no doubt that domestic production creates domestic jobs that cannot be shipped overseas.”

Vitter's letter Friday comes as a follow-up to a letter Vitter sent the agency in March and to which he never received a reply.

“Louisianans’ are frustrated with the ongoing de facto moratorium, and I would appreciate a full accounting for the return on investment the American taxpayer has received, and is anticipated to receive on the $2 billion loan to this Brazilian petroleum company,” Vitter said back in March. “I want to understand why permitting domestically is nearly stalled, and if there is at least a return on this investment over the last year and a half for supporting production offshore Brazil.”

“U.S. domestic energy policy cannot be based on crippling access, stifling permitting, and increasing taxes on production – as President Obama has recently proposed – while at the same time loaning billions to foreign government-owned entities to produce abroad,” Vitter said. “These loans may well create numerous jobs domestically for U.S. businesses to sell product overseas. However, there is no doubt that domestic production creates domestic jobs that cannot be shipped overseas.”

Obama wants no more oil production in America.  He wants higher and higher gas prices.  Unite America and force government action to produce oil in America.  Why do we give money to other countries to produce oil while gas prices cripple America?  Drill baby drill!!!

Comment here and email us at YourVoice@speaknowconservatives.org.

America do you need a place to vent about the direction our government is taking?  Do you want to find ways to help make a change? Go to MomsAndDadsBeHeard a forum for you to speak out. Be part of bringing our Great country back.

You might also like to read this article: Democrats Defying Obama On Debt Ceiling