Obama Makes Oil Deal with Brazil

If you read my post last week about Obama possibly discussing business on his trip to Brazil, then this comes as little surprise.

Brazil, U.S. agree to trade, energy deals

The agreements were signed on the first day of U.S. President Barack Obama’s two-day visit to Brazil, where he met with Brazilian counterpart Dilma Rousseff and a host of local and U.S. business executives.

Following is a summary of the agreements that were signed:

ENERGY

The United States seeks to be “a strategic energy partner” to Brazil, which recently discovered major new offshore oil reserves. Obama said the United States wants to be one of Brazil’s “best customers” when the oil starts flowing.

Both nations also will increase cooperation on producing biofuels with a specific separate agreement to team up on developing biofuels for aviation.

So our jobs and infrastructure is being sold out to foreign interests. The only thing left to make the circle complete is how it ties to the election. My guess is that the time they start producing and selling their oil, prices will reduce back to reasonable levels that make his policy look good on the surface.

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