by Robert Maynard
It looks like domestic companies like Solyndra are not the only Obama supporters to get a sweetheart deal from his Administration. Apparently it is time to reward his Chinese donors as well. Check out this article in the Washington Free Beacon:
The government watchdog group Judicial Watch is suing the Treasury Department for records pertaining to the department’s decision to grant a Chinese government-backed company access to oil deposits in the Gulf of Mexico, a move that will benefit Obama donors.
The Chinese National Offshore Oil Corporation (CNOOC) reached a “definitive agreement” with Nexen, Inc., a Canadian energy company, announced on July 23, 2012, to buy all of the company’s outstanding public shares. Nexen has holdings in the Gulf of Mexico and Canada, giving the Chinese government access to millions of barrels of Keystone XL and Gulf reserve oil.
This Administration seems to be more willing to grant foreign companies access to oil deposits than it does American companies. In a March of 2011 Investor’s Business Daily article it was revealed how helpful the Administration intended to be to the Brazilian effort to develop its oil industry:
While leaving U.S. oil and jobs in the ground, our itinerant president tells a South American neighbor that we’ll help it develop its offshore resources so we can one day import its oil. WHAT?!?
We have noted this double standard before, particularly when — at a time when the president was railing against tax incentives for U.S. oil companies — we supported the U.S. Export-Import Bank’s plan to lend $2 billion to Brazil’s state-run Petrobras with the promise of more to follow.
Now, with a seven-year offshore drilling ban in effect off of both coasts, on Alaska’s continental shelf and in much of the Gulf of Mexico — and a de facto moratorium covering the rest — Obama tells the Brazilians:
“We want to help you with the technology and support to develop these oil reserves safely. And when you’re ready to start selling, we want to be one of your best customers.”
Apparently American oil companies are not among his major donors.