Obama extends deep-sea drilling ban... but ordered a bank to loan $10B to a oil company that's going to deep sea drill?
Last August, after a warm personal visit with Brazilian President Lula de Silva, President Obama ordered the US government-controlled Export-Import Bank to extend a $10 billion loan to oil giant Petrobras for the purpose of funding deep water drilling off the coast of Brasil. While BP’s big gusher was drilled an astonishing 5,000 feet under water, the US-funded offshore Brazilian field lies under 7,000 to 9,000 feet of water.I actually forgot all about this one too...
The site states that : Petrobras announced that they will expand deep drilling to the Black Sea off Turkey in 7,000 feet of water. (but i haven't found the link for this yet).
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