UPDATE: Brazilian Oil, Soro’s and Obama…It don’t take a Genius.



Soros Invests $811 Million In Brazilian Oil » Sweetness & Light: “Soros hedge fund invests $811m to buy Petrobras stake
August 15, 2008

UPDATE
London: Billionaire investor George Soros bought an $811 million stake in Petroleo Brasileiro (Petrobras) in the second quarter, making the Brazilian state-controlled oil company his investment fund’s largest holding.”

ORIGINAL STORY
President Obama Finances Offshore Drilling in Brazil – WSJ.com: “You read that headline correctly. Unfortunately, the Obama Administration is financing oil exploration off Brazil.
The U.S. is going to lend billions of dollars to Brazil’s state-owned oil company, Petrobras, to finance exploration of the huge offshore discovery in Brazil’s Tupi oil field in the Santos Basin near Rio de Janeiro. Brazil’s planning minister confirmed that White House National Security Adviser James Jones met this month with Brazilian officials to talk about the loan.”

Stringing and Strowing says “this explains Obama’s pledge to fund oil exploration in Brazil as announced last week.” Duh.


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