The Obama administration is financing offshore drilling off the coast of Brazil. According to the Wall Street Journal,
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.
UPDATE: Bloomberg is reporting an interesting link between Obama's Petrobras deal and billionaire George Soros:
His New York-based hedge-fund firm, Soros Fund Management LLC, sold 22 million U.S.-listed common shares of Petrobras, as the Brazilian oil company is known, according to a filing today with the U.S. Securities and Exchange Commission. Soros bought 5.8 million of the company’s U.S.-traded preferred shares.
Hmm. Isn't it a strange coincidence that Obama-supporter Soros would reposition himself within Petrobras to receive dividends just days before Obama's $2 billion in loans and guarantees for the country's offshore drilling operations?