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Remarks by the President to the People of Brazil in Rio de Janeiro, Brazil


Teatro Municipal

Rio de Janeiro


2:56 P.M. BRT


THE PRESIDENT: Hello, Rio de Janeiro!




AUDIENCE MEMBER: Many welcomes!


THE PRESIDENT: Alo! Cidade! Maravilhoso! (Applause.) Boa tarde, todo o povo brasileiro. (Applause.)


Since the moment we arrived, the people of this nation have graciously shown my family the warmth and generosity of the Brazilian spirit. Obrigado. Thank you. (Applause.) And I want to give a special thanks to all of you for being here, because I've been told that there’s a Vasco football game coming. (Cheers and boos.) Botafogo –- (laughter.) So I know that -- I realize Brazilians don’t give up their soccer very easily. (Laughter.)


Now, one of my earliest impressions of Brazil was a movie I saw with my mother as a very young child, a movie called Black Orpheus, that is set in the favelas of Rio during Carnival. And my mother loved that movie, with its singing and dancing against the backdrop of the beautiful green hills. And it first premiered as a play right here in Teatro Municipal. That's my understanding.


And my mother is gone now, but she would have never imagined that her son’s first trip to Brazil would be as President of the United States. She would have never imagined that. (Applause.) And I never imagined that this country would be even more beautiful than it was in the movie. You are, as Jorge Ben-Jor sang, “A tropical country, blessed by God, and beautiful by nature.” (Applause.)


I’ve seen that beauty in the cascading hillsides, in your endless miles of sand and ocean, and in the vibrant, diverse gatherings of brasileiros who have come here today.


And we have a wonderfully mixed group. We have Cariocas and Paulistas, Baianas, Mineiros. (Applause.) We’ve got men and women from the cities to the interior, and so many young people here who are the great future of this great nation.


Now, yesterday, I met with your wonderful new President, Dilma Rousseff, and talked about how we can strengthen the partnership between our governments. But today, I want to speak directly to the Brazilian people about how we can strengthen the friendship between our nations. I’ve come here to share some ideas because I want to speak of the values that we share, the hopes that we have in common, and the difference that we can make together.


When you think about it, the journeys of the United States of America and Brazil began in similar ways. Our lands are rich with God’s creation, home to ancient and indigenous peoples. From overseas, the Americas were discovered by men who sought a New World, and settled by pioneers who pushed westward, across vast frontiers. We became colonies claimed by distant crowns, but soon declared our independence. We then welcomed waves of immigrants to our shores, and eventually after a long struggle, we cleansed the stain of slavery from our land.


The United States was the first nation to recognize Brazil’s independence, and set up a diplomatic outpost in this country. The first head of state to visit the United States was the leader of Brazil, Dom Pedro II. In the Second World War, our brave men and women fought side-by-side for freedom. And after the war, both of our nations struggled to achieve the full blessings of liberty.

On the streets of the United States, men and women marched and bled and some died so that every citizen could enjoy the same freedoms and opportunities -– no matter what you looked like, no matter where you came from.


In Brazil, you fought against two decades of dictatorships for the same right to be heard -– the right to be free from fear, free from want. And yet, for years, democracy and development were slow to take hold, and millions suffered as a result.


But I come here today because those days have passed. Brazil today is a flourishing democracy -– a place where people are free to speak their mind and choose their leaders; where a poor kid from Pernambuco can rise from the floors of a copper factory to the highest office in Brazil.


Over the last decade, the progress made by the Brazilian people has inspired the world. More than half of this nation is now considered middle class. Millions have been lifted from poverty. For the first time, hope is returning to places where fear had long prevailed. I saw this today when I visited Cidade de Deus -– the City of God. (Applause.)


It isn’t just the new security efforts and social programs -- and I want to congratulate the mayor and the governor for the excellent work that they’re doing. (Applause.) But it’s also a change in attitudes. As one young resident said, “People have to look at favelas not with pity, but as a source of presidents and lawyers and doctors, artists, [and] people with solutions.” (Applause.)


With each passing day, Brazil is a country with more solutions. In the global community, you’ve gone from relying on the help of other nations, to now helping fight poverty and disease wherever they exist. You play an important role in the global institutions that protect our common security and promote our common prosperity. And you will welcome the world to your shores when the World Cup and the Olympic games come to Rio de Janeiro. (Applause.)


Now, you may be aware that this city was not my first choice for the Summer Olympics. (Laughter.) But if the games could not be held in Chicago, then there’s no place I’d rather see them than right here in Rio. And I intend to come back in 2016 to watch what happens. (Applause.)


For so long, Brazil was a nation brimming with potential but held back by politics, both at home and abroad. For so long, you were called a country of the future, told to wait for a better day that was always just around the corner.


Meus amigos, that day has finally come. And this is a country of the future no more. The people of Brazil should know that the future has arrived. It is here now. And it’s time to seize it. (Applause.)


Now, our countries have not always agreed on everything. And just like many nations, we’re going to have our differences of opinion going forward. But I’m here to tell you that the American people don’t just recognize Brazil’s success -– we root for Brazil’s success. As you confront the many challenges you still face at home as well as abroad, let us stand together -– not as senior and junior partners, but as equal partners, joined in a spirit of mutual interest and mutual respect, committed to the progress that I know that we can make together. (Applause.) I'm confident we can do it. (Applause.)


Together we can advance our common prosperity. As two of the world’s largest economies, we worked side by side during the financial crisis to restore growth and confidence. And to keep our economies growing, we know what’s necessary in both of our nations. We need a skilled, educated workforce -- which is why American and Brazilian companies have pledged to help increase student exchanges between our two nations.

We need a commitment to innovation and technology -- which is why we've agreed to expand cooperation between our scientists, researchers, and engineers.


We need world-class infrastructure -- which is why American companies want to help you build and prepare this city for Olympic success.


In a global economy, the United States and Brazil should expand trade, expand investment, so that we create new jobs and new opportunities in both of our nations. And that's why we're working to break down barriers to doing business. That's why we're building closer relationships between our workers and our entrepreneurs.


Together we can also promote energy security and protect our beautiful planet. As two nations that are committed to greener economies, we know that the ultimate solution to our energy challenges lies in clean and renewable power. And that’s why half the vehicles in this country can run on biofuels, and most of your electricity comes from hydropower. That’s also why, in the United States, we’ve jumpstarted a new clean energy industry. And that’s why the United States and Brazil are creating new energy partnerships -- to share technologies, create new jobs, and leave our children a world that is cleaner and safer than we found it. (Applause.)


Together, our two nations can also help defend our citizens’ security. We’re working together to stop narco-trafficking that has destroyed too many lives in this hemisphere. We seek the goal of a world without nuclear weapons. We’re working together to enhance nuclear security across our hemisphere. From Africa to Haiti, we are working side by side to combat the hunger, disease, and corruption that can rot a society and rob human beings of dignity and opportunity. (Applause.) And as two countries that have been greatly enriched by our African heritage, it’s absolutely vital that we are working with the continent of Africa to help lift it up. That is something that we should be committed to doing together. (Applause.)


Today, we’re both also delivering assistance and support to the Japanese people at their greatest hour of need. The ties that bind our nations to Japan are strong. In Brazil, you are home to the largest Japanese population outside of Japan. In the United States, we forged an alliance of more than 60 years. The people of Japan are some of our closest friends, and we will pray with them, and stand with them, and rebuild with them until this crisis has passed. (Applause.)


In these and other efforts to promote peace and prosperity throughout the world, the United States and Brazil are partners not just because we share history, not just because we’re in the same hemisphere; not just because we share ties of commerce and culture, but also because we share certain enduring values and ideals.


We both believe in the power and promise of democracy. We believe that no other form of government is more effective at promoting growth and prosperity that reaches every human being -- not just some but all. And those who argue otherwise, those who argue that democracy stands in the way of economic progress, they must contend with the example of Brazil.


The millions in this country who have climbed from poverty into the middle class, they could not do so in a closed economy controlled by the state. You’re prospering as a free people with open markets and a government that answers to its citizens. You’re proving that the goal of social justice and social inclusion can be best achieved through freedom -– that democracy is the greatest partner of human progress. (Applause.)


We also believe that in nations as big and diverse as ours, shaped by generations of immigrants from every race and faith and background, democracy offers the best hope that every citizen is treated with dignity and respect, and that we can resolve our differences peacefully, that we find strength in our diversity.


We know that experience in the United States. We know how important it is to be able to work together -- even when we often disagree. I understand that our chosen form of government can be slow and messy. We understand that democracy must be constantly strengthened and perfected over time. We know that different nations take different paths to realize the promise of democracy. And we understand that no one nation should impose its will on another.


But we also know that there’s certain aspirations shared by every human being: We all seek to be free. We all seek to be heard. We all yearn to live without fear or discrimination. We all yearn to choose how we are governed. And we all want to shape our own destiny. These are not American ideals or Brazilian ideals. These are not Western ideals. These are universal rights, and we must support them everywhere. (Applause.)


Today, we are seeing the struggle for these rights unfold across the Middle East and North Africa. We’ve seen a revolution born out of a yearning for basic human dignity in Tunisia. We’ve seen peaceful protestors pour into Tahrir Square -– men and women, young and old, Christian and Muslim. We’ve seen the people of Libya take a courageous stand against a regime determined to brutalize its own citizens. Across the region, we’ve seen young people rise up -– a new generation demanding the right to determine their own future.


From the beginning, we have made clear that the change they seek must be driven by their own people. But for our two nations, for the United States and Brazil, two nations who have struggled over many generations to perfect our own democracies, the United States and Brazil know that the future of the Arab World will be determined by its people.


No one can say for certain how this change will end, but I do know that change is not something that we should fear. When young people insist that the currents of history are on the move, the burdens of the past can be washed away. When men and women peacefully claim their human rights, our own common humanity is enhanced. Wherever the light of freedom is lit, the world becomes a brighter place.


That is the example of Brazil. That is the example of Brazil. (Applause.) Brazil -– a country that shows that a dictatorship can become a thriving democracy. Brazil -– a country that shows democracy delivers both freedom and opportunity to its people. Brazil -- a country that shows how a call for change that starts in the streets can transform a city, transform a country, transform a world.


Decades ago, it was directly outside of this theater, in Cinelandia Square, where the call for change was heard in Brazil. Students and artists and political leaders of all stripes would gather with banners that said, “Down with the dictatorship. The people in power.” Their democratic aspirations would not be fulfilled until years later, but one of the young Brazilians in that generation’s movement would go on to forever change the history of this country.


A child of an immigrant, her participation in the movement led to her arrest and her imprisonment, her torture at the hands of her own government. And so she knows what it’s like to live without the most basic human rights that so many are fighting for today. But she also knows what it is to persevere. She knows what it is to overcome -- because today that woman is your nation’s president, Dilma Rousseff. (Applause.)


Our two nations face many challenges. On the road ahead, we will certainly encounter many obstacles. But in the end, it is our history that gives us hope for a better tomorrow. It is the knowledge that the men and women who came before us have triumphed over greater trials than these -– that we live in places where ordinary people have done extraordinary things.


It’s that sense of possibility, that sense of optimism that first drew pioneers to this New World. It’s what binds our nations together as partners in this new century. It’s why we believe, in the words of Paul Coelho, one of your most famous writers, “With the strength of our love and our will, we can change our destiny, as well as the destiny of many others.”


Muito obrigado. Thank you. And may God bless our two nations. Thank you very much. (Applause.)



3:17 P.M. BRT

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There is nothing wrong with the USA having a more secure supply of oil and not being liable to pay the environmental price of oil spills. Here is a more accurate account of the rumor you are helping spread.




And learn how the learn a little more about the Moratorium.




Then you might want to face reality on what happened last Summer.


Then take the time to realize that Chevron USA just was given a permit.




It is sad that Glenn Beck does not share the whole truth with his viewers. You need to read the President's remarks.


Remarks by the President at CEO Business Summit in Brasilia, Brazil


Tryp Convention Brasil 21 Center

Brasilia, Brazil


4:04 P.M. BRT


THE PRESIDENT: Thank you. (Applause.) Boa tarde. Thank you very much. Please, please, everybody be seated. It is a great joy to be here in Brazil, and on behalf of Michelle and myself, I want to thank the people of Brasilia for the incredibly warm welcome that you've shown us since we arrived.


I want to make a few acknowledgements. First of all, I want to thank the Brazil-U.S. Business Council for the outstanding work that they're doing. The National Conference of Industry and the American Chamber of Commerce for Brazil, thank you all for the great job in hosting this conference.


I want to acknowledge a number of my Cabinet who are here: The Secretary of the Treasury, Timothy Geithner, is here. Gary Locke, the Secretary of Commerce; Ron Kirk, our U.S. Trade Representative -- (applause) -- Lisa Jackson, our EPA Administrator; Fred Hochberg, President of the Export/Import Bank; Michael Froman, my Deputy National Security Advisor for International Economic Affairs. (Applause.) And to all the government officials of Brazil, thank you for your hospitality.


My only regret is that we missed the party by coming a few weeks after Carnival. (Laughter.) Maybe that's the best -- since I'm not sure I would have had the same level of productivity from my staff. (Laughter.)


I also want to thank all the business and government officials who have traveled from the U.S. and all over Brazil to be here today. After spending the morning discussing a range of economic issues with President Rousseff and talking with some Brazilian and American CEOs, I want to speak with you today about how we can work together to create new jobs and new opportunities in both our countries.


In the last two centuries, there has never been a moment of greater promise for Brazil. You now have the seventh largest economy in the world, and one of the fastest growing of any country. In the span of nearly a decade, tens of millions of Brazilians have been lifted out of poverty. Nearly half of your population is now considered middle class. Instead of relying on the helping hand of other countries, you are now extending a hand to help developing nations. You grow much of the world's food, supply much of its biofuels, and will host the two largest international sporting events in the world. And as I mentioned at the joint press conference with Madam President Rousseff, I'm still a little hurt about the Olympics coming here instead of my hometown in Chicago. (Laughter.) But I know you'll do an outstanding job.


So what has been accomplished here in Brazil is nothing short of remarkable. It's often been said that Brazil is a country for the future. Well, that future has now arrived. And despite the uncertainties over the last two years, Brazil has stepped onto the world stage as a major financial and economic power.


You did not arrive at this point by simply chance or good fortune. Your success came because of hard work and the perseverance of the Brazilian people, the entrepreneurial spirit of many in this room, and the vision of leaders like Presidents Cardoso and Lula. What these leaders realized, and what President Rousseff understands, is that the surest path to prosperity for Brazil involves free people and free markets.


In a region of the world where the legacy of colonialism is still fresh, there was a legitimate concern in the last century that opening your economies to more trade would lead wealthier countries to extract resources without regard to your own nation's development. I understand that. At the same time, many Latin American nations, including this one, lived through decades of dictatorships where closed economies failed to produce decent standards of living for the vast majority of people.


But over the last decade, Brazil has proved to the world that there is another way. You've shown that participation in the global economy can lead to widespread opportunity at home. You've shown that the spirit of capitalism can thrive alongside the spirit of social justice. You've shown that democracy is still the best path to economic progress, for when governments are accountable to their people, their people are more likely to prosper.


In the United States of America, we have always shared these beliefs. Like you, we threw off the yoke of colonialism and established our independence in the New World. We, too, are a vast nation of immigrants from different backgrounds and cultures who find strength in our diversity, strength and unity in our national pride. And as the two largest democracies and economies in the Western Hemisphere, we share a belief that all human beings deserve the chance to shape their own destiny and fulfill their God-given potential.


For all these reasons, the United States supports the rise of Brazil as a global power. That's why we worked to empower the G20 -– where Brazil has a prominent seat at the table -– to be the premier forum for international economic cooperation. That's why we supported a bigger role for Brazil in various international institutions such as the IMF and the World Bank. And that's why Brazil is my first stop on my first trip to South America -- because we seek a deeper partnership with your government and a closer friendship with your people. We believe that strengthening our economic ties will create new jobs and opportunities for both of our nations.


As the United States looks to Brazil, we see the chance to sell more goods and services to a rapidly growing market of around 200 million consumers. And for us, this is a jobs strategy. When our businesses send more products overseas, it supports the workers who make and sell those products. And I think most American businessmen who are here understand this. For every $1 billion in U.S. exports, we see 5,000 U.S. jobs.


Already, our exports to Brazil have more than doubled over the last five years -– growing twice as fast as our overall exports, and faster than our exports to China. We now sell $50 billion worth of goods and services to Brazil, and those sales support more than 250,000 jobs in the United States.


For example, after one small business in North Carolina attended a trade forum in São Paulo last year, they came away with a manufacturing deal that sent auto parts to Brazil and led to the hiring of new workers in the United States. Capstone Turbine in California recently sold $2 million worth of high-tech energy equipment that will support jobs in America and serve millions of Brazilians in the years to come. And the government of Brazil recently purchased helicopters that will support U.S. manufacturing jobs from Pennsylvania to Alabama.


These exports don't just mean jobs for the United States; they also mean more services and more choices for the people of Brazil. From telecommunication and information services to machinery and clean energy technology, American companies are contributing to the economic growth that is raising the living standards of Brazilians everywhere. And our businesses don't just make that contribution by exporting to Brazil, but also through billions of dollars in direct investment that supports jobs and businesses in both of our countries.


Of course, our economic relationship isn't just a one-way street of U.S. exports and U.S. investment. The United States is the second largest market for Brazilian exports, supporting tens of thousands of jobs and businesses in this country. Over the last decade, Brazilian companies have invested billions of dollars in American industries ranging from steel to information technology –- projects that will create thousands of jobs in the United States. At the end of 2008, U.S. subsidiaries of Brazilian firms employed more than 42,000 U.S. workers.


So there is no question that the United States and Brazil benefit from the economic ties we've developed over the years. There's also no question that strengthening those ties would be a win-win for both our nations. And I'd like to mention four areas where I think we can do just that.


First of all, I'm pleased to announce that President Rousseff and I just completed an agreement for a new Economic and Financial Dialogue. It's time for the United States to treat our engagement with Brazil on economic issues as seriously as we do with nations like China and India, and this dialogue will help us do that -- (applause.) This dialogue will help us do that by promoting economic cooperation, streamlining regulations, and enhancing international cooperation not only at the G20 but elsewhere.


We've also completed an agreement for trade and economic cooperation which will help us expand the trade and investment that creates jobs in both of our countries. This agreement will also foster greater dialogue about how we can break down the barriers that still exist between our two nations. As the World Bank has noted, there are still too many obstacles in the way of doing business in Brazil. And I know Brazil has issues with certain policies in the United States. But I also know that there's no country that has more to gain than Brazil from expanded trade and open markets. And we want to help you resolve whatever challenges stand in the way of this goal.


The second place we want to partner with Brazil is on the issue of energy, which is why President Rousseff and I also agreed to launch a Strategic Energy Dialogue. By some estimates, the oil you recently discovered off the shores of Brazil could amount to twice the reserves we have in the United States. We want to work with you. We want to help with 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. At a time when we've been reminded how easily instability in other parts of the world can affect the price of oil, the United States could not be happier with the potential for a new, stable source of energy.


Now, even as we focus on oil in the near term, we shouldn't lose sight of the fact that the only long-term solution to the world's dependence on fossil fuels is clean energy technology. And that's why the United States and Brazil are deepening our cooperation on biofuels -- (applause) -- and why we're launching a U.S.-Brazil Green Economy Partnership, because we know that the development of clean energy is one of the best ways to create new jobs and industries in both our nations.


Already, more than half of the vehicles in Brazil run on biofuels. Nearly 80 percent of your electricity comes from hydropower. In the United States, we've jumpstarted a clean energy industry and we'll soon have the capacity to produce 40 percent of the world's advanced batteries. If we can start sharing these new technologies, and leverage private investment from businesses like the ones in this room, we can grow our economies and clean our environment by making, using, trading, selling clean energy products all over the world. That is a win for both our nations.


A third place we can cooperate is education. I was speaking over lunch with President Rousseff, and we agreed a knowledge-based economy will be the key to growth and prosperity, and that means a skilled and educated workforce. The more our young people, the more our students, the more our workers are exposed to new cultures and new ideas, the more equipped they'll be able -- they'll be to compete on a global scale. And that's why I'm so pleased that American and Brazilian business leaders have expressed interest in increasing student exchanges between our nations -- because when we invest in our people, we invest in our future. (Applause.)


The final place we can work together is on infrastructure. In 2014, the World Cup will take place in Brazil, the only nation that's a five-time champion -- although the U.S. is getting better, you have to admit. (Laughter.) We're getting better. (Laughter.) And as I already mentioned, Rio will host the Olympics in 2016. But even though we lost a hard-fought contest, the United States doesn't just want to watch from the stands. Brazil is expected to invest over $200 billion to prepare for both of these events. And as you look for businesses to design and build new roads and bridges and stadiums, American companies stand ready to help you meet this challenge -– on everything from engineering to manufacturing to construction. We want to see these games and this nation succeed.


So these are just some of the steps we can take to strengthen the ties that bind our two nations -– ties that offer the promise of greater prosperity and opportunity for Americans and Brazilians alike. And yet, for all the deals and agreements that we may sign, the true potential of our partnership will only be realized by forging relationships between our people -– between business leaders, entrepreneurs, scientists, engineers, teachers, students, and over one million citizens who travel to the U.S. and Brazil every year.


Like all friends, we may not agree on every issue. We won't always take the exact same path. But as the two largest democracies in the New World begin the second decade of a young century, let's never forget all that we share.


In the United States, we believe in what's known as the American Dream -– the idea that no matter who you are, or where you come from, or how you start out, you can overcome the greatest obstacles and fulfill the greatest hopes. I'm a testament to that dream. I believe that that dream exists in this America, as well. I can see it in the entrepreneurial spirit of the men and women in this room. I could see it in the celebrations of Caricoas upon learning that the world will come to compete in Rio. And I can see it running through so much of your history.


Brasilia is a young city -- it will turn 51 next month. But it began as a dream more than a century ago. In 1883, Dom Bosco, Brasilia's patron saint, had a vision that one day, a capital city of a great nation would be built between the 15th and 20th parallels. It would be a model for the future and ensure that opportunity was the birthright of every Brazilian.


And today, this city and this country are indeed a model for the future, showing the world that democracy is still the best partner of human progress. As friends and neighbors who have lived the same story, we are eager to be a part of your future, and fulfill our American Dream together.


Muito obrigado. Thank you.

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Everyone mentions the Koch Brothers (including here) these days. What about New World Order leader George Soros?


He has his Obama puppet and Democrat minions following his plan of the United States no longer being the global leader and making a pile of cash along the way. This is a dog eat dog world folks. The world will rip us to shreds if we do not stay ahead of the pack.


March 17, 2011

Fred Hochberg


Export-Import Bank of the United States

811 Vermont Avenue, N.W.

Washington, DC 20571

Dear Mr. Hochberg:


I write in light of your trip to Brazil at the end of the week, on which you will be traveling with President Obama.


In August of 2009 you received a copy of the letter I sent to the President regarding the Export-Import Bank’s (ExIm’s) decision to move forward with extending a $2 billion loan to Petrobras, Brazil’s state-owned oil company. Despite the fact that the letter was addressed to the President, my staff received a response via telephone from ExIm noting the multi-billion dollar loan. It was made clear during that phone conversation that the loan would do more than simply help Brazil expand its domestic offshore exploration and production capabilities.

ExIm pointed out to my staff that the purpose of the bank was to provide loans that would enhance exports to foreign countries with the ultimate benefit going to U.S. businesses. In other words, there would be significant return on this investment in the form of interest on the loan as well as an increase in the growth of U.S. manufactured products to be used in Brazil’s offshore exploration industry.


In April 2010, the Gulf of Mexico experienced the tragic blowout of the Macondo well, and the resulting loss of 11 lives and severe environmental damage. This tragedy and the resulting impacts have hurt the state of Louisiana and the country as a whole. However, rather than learn from this tragedy, the Interior Department has used it as an ongoing tool and excuse to cripple domestic energy production in federal waters. To date, only two permits to drill have been issued for the deepwater Gulf of Mexico.


Two permits for an industry the President claims to support is a far cry from the “support” of $2 billion ExIm loaned to Petrobras-Brazil. Accordingly, I would appreciate a full accounting for the return on investment the American taxpayer has received, and is anticipated to receive on the $2 billion loan to Petrobras.


Specifically, could you please provide the following information:


1. The name of all U.S. companies that have increased exports based on this loan.

2. The specific product exports that have increased based on this loan.

3. The return on investment for this loan during the next 5 and 10-year windows.

4. The name of all U.S. and foreign investors, including institutional investors, that increased their shareholdings in Petrobras in excess of $50 million within a 6 month period before and after the ExIm loan.


I am sure you can understand the frustration Louisianians have with a $2 billion loan to produce energy offshore Brazil. Given that U.S. offshore oil and gas reserves are estimated at nearly triple the 40 billion barrels estimated offshore Brazil, a thorough response from you would be helpful in understanding why permitting domestically is nearly stalled, and if there is at least a return on investment for supporting production offshore Brazil.




David Vitter

U.S. Senate

Cc: President Barack Obama

Secretary Ken Salazar

U.S. Trade Representative Kirk

Gulf of Mexico Delegation

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Looks like Petrobras is borrowing up to $2 Billion, so Petrobras can purchase $2.2 Billion in goods and services made in the USA. You need to stop watching Fox Entertainment.


U.S. Exporters to Benefit from a $2 Billion Ex-Im Bank Preliminary Committment to Brazil's Petrobras


Small and large U.S. companies may benefit from a nonbinding preliminary commitment of $2 billion in financing from the Export-Import Bank of the United States (Ex-Im Bank) to encourage purchases of U.S. goods and services by Petróleo Brasileiro S.A. (Petrobras), Brazil's national oil company. Pending a final approval, the financing is anticipated to support more than $2.2 billion of U.S. exports to Petrobras.


Ex-Im Bank anticipates that this preliminary commitment will give Petrobras the opportunity to identify potential U.S. exporters for its projects over the next two years. Upon conversion of the preliminary commitment to a final commitment, the financing could be used to support U.S. exports on repayment terms of up to 10 years, including a potential conversion of part of the financing to establish a medium-term (one to seven years) credit guarantee facility.


Petrobras may use U.S. goods and services financed under an Ex-Im Bank final commitment to develop its offshore oil and gas reserves, particularly the large pre-salt reserves in the Santos Basin, and also to develop and upgrade its refining and distribution infrastructure. Petrobras anticipates that it will invest $174 billion in development over the next five years.


"Petrobras presents an enormous opportunity for U.S. exporters in the oil and gas industries and many other sectors. With this preliminary commitment, Ex-Im Bank is actively encouraging Petrobras to consider extensive sourcing of equipment, services and supplies from the United States for its offshore development and infrastructure expansion," said Ex-Im Bank Structured Finance Vice President Barbara O'Boyle.


U.S. companies of all sizes that are interested in exploring export opportunities to Petrobras may contact Philip Limón, treasurer, Petrobras America Inc. in Houston, Texas, (713-808-2160; plimon@petrobras-usa.com) to learn more about the company's bidding process and how to participate in transactions that could be financially assisted by Ex-Im Bank.


Founded in 1953, Petrobras is the primary oil company operating in Brazil and is one of the world's largest oil producers. Petrobras holds the second largest reserves in South America, with proven oil reserves totaling 12.5 billion barrels and proven natural gas reserves totaling 14.8 trillion cubic feet. Petrobras is a fully integrated oil and natural gas services company and operates in all parts of the production chain from exploration and development to production, refining, transportation, distribution and marketing.


Ex-Im Bank offered the $2 billion preliminary commitment to Petrobras as part of its proactive outreach. A preliminary commitment is issued by Ex-Im Bank to demonstrate that the Bank is interested in providing financing for the types of transactions indicated. Final approval follows receipt of a final commitment application, review by Ex-Im Bank staff and final action by the Bank's board of directors.


In fiscal year 2008, Ex-Im Bank authorized a total of $14.4 billion in financing to support an estimated $19.6 billion of U.S. exports worldwide. The Bank authorized financing to support $1.5 billion of U.S. exports for oil and gas production projects.


Ex-Im Bank is the official export-credit agency of the United States. The independent, self-sustaining federal agency, now in its 75th year, helps to create and maintain U.S. jobs by financing the sale of U.S. exports, primarily to emerging markets throughout the world, by providing loan guarantees, export-credit insurance and direct loans. For more information,

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Folks just read what I have posted in here on Brazil and Learn, and if you don't want to? Then don't.


We can beat Brazil economically "easy". Read! Use Brain. There is also a thread in here on "how to be your own boss".


I outlined on this web site how Brazil got to be where it is today.


The democrats under the leadership of President Obama are outsourcing oil jobs, but if that's what you folks are into? Then knock yourselves out.

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Yes!!! Obamas allies get rich while the U.S. economy suffers. Not to mention that it will help Obamas re-election bid "$".


Obama still gets what he wants "The price of electricity will necessarily sky rocket".



From what I read JP Morgan would be the lender, and Ex-Im would be the guarantor of the loan.




I still look at the link Human : )




Made in USA

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Press Briefing by Press Secretary Jay Carney, Secretary of Energy Steven Chu and Deputy Assistant to the President for Energy and Climate Change Heather Zichal


Q Mr. Secretary, one of the things that Republicans have seized on are comments that the President made when he was in Brasilia that the U.S. intended to become a major customer of Brazil’s oil resources. And I’m wondering, given that comment and what his intentions are to reduce reliance by a third, how do you square those two?


SECRETARY CHU: Well, I think, first of all, the President was, in large part, talking about partnering with Brazil in the development of their oil resources. American companies have a lot of technical expertise in drilling oil, especially deepwater oil. And so I think part of it is that this allows American companies to partner with Brazil so they can develop those resources.


But it is by no means in contradiction to decreasing our reliance on foreign oil, because we also want to increase the production of domestic oil sources, both offshore and onshore. And so this is in no way contradictory to that.

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Give it up Law; This Presidents' philosophy when it comes to drilling oil is still "Not in my back yard" a type of mentality that is hurting this country.


I don't argue with you because your posts are childish at best. You don't even know the numbers involved, people, nor any of the strategic economic games being played with in the region presently.



Press Briefing by Press Secretary Jay Carney, Secretary of Energy Steven Chu and Deputy Assistant to the President for Energy and Climate Change Heather Zichal


Q Mr. Secretary, one of the things that Republicans have seized on are comments that the President made when he was in Brasilia that the U.S. intended to become a major customer of Brazil’s oil resources. And I’m wondering, given that comment and what his intentions are to reduce reliance by a third, how do you square those two?


SECRETARY CHU: Well, I think, first of all, the President was, in large part, talking about partnering with Brazil in the development of their oil resources. American companies have a lot of technical expertise in drilling oil, especially deepwater oil. And so I think part of it is that this allows American companies to partner with Brazil so they can develop those resources.


But it is by no means in contradiction to decreasing our reliance on foreign oil, because we also want to increase the production of domestic oil sources, both offshore and onshore. And so this is in no way contradictory to that.

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Guest Tea Party Patriot

Yes!!! Obamas allies get rich while the U.S. economy suffers. Not to mention that it will help Obamas re-election bid "$".


Obama still gets what he wants "The price of electricity will necessarily sky rocket".





You get where I am coming from. I cannot stand how public servants are no longer serving the people who elected them. Instead they follow the path of special interest groups serving desires of capitalist and corporations first. That is just plain wrong.


We should not let JP Morgan, Goldman Sachs, Haliburton, General Electric, Koch Brothers, George Soros, General Motors, and others leach from the American People in a time when they are barely able to pay their bills. We need people like you to fight them.



You are an idealist. Change does not come overnight. You need to understand that until you purge out the Special Interest there will never be an ideal government that is for legitimate taxpayers. The one being created now would never have been accepted by our Founding Fathers. It simply infringes on our Liberty of Choice.


We should not let President Obama set an agenda that believes there is a middle ground between Right and Wrong. Because there is none. There is only greater good for the like minded.

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Guest Bill H.

This is a huge find.


Gabrielli estimates that Rio de Janeiro-based company can double its proven oil reserves in a period of five years once the pre-salt deposits are declared commercially viable.


The Brazilian company's proven reserves currently total roughly 14 billion barrels but that figure does not include between 10-16 billion barrels that have been discovered in the pre-salt and will become proven reserves after a declaration of commerciality has been submitted to regulators.


Because Brazil is already oil self-sufficient and prefers to increase its supply of biofuels such as ethanol, the pre-salt reserves will be primarily destined for export.


"Brazil today is the world's best development frontier for new oil production. With the pre-salt discoveries, Brazil is a country with enormous potential for boosting production over the long term," Gabrielli said.


"It's clear everyone wants to participate in that process," Gabrielli said, referring to U.S. companies' interest in exploring the pre-salt and the U.S. government's plans to become a top customer for Brazilian oil exports.


Located in a roughly 160,000-sq.-kilometer (62,000-sq.-mile) offshore area, the pre-salt fields are estimated to contain roughly 80 billion barrels of oil equivalent and could potentially transform the South American nation into a major crude exporter.


But accessing them will be very costly and pose an enormous technical challenge because they are located at depths of between 5,000-7,000 meters (16,400-22,950 feet). Drastic changes in temperature as the oil is brought to the surface also add to the technical complexity of developing those fields.


A law signed late last year declares the pre-salt reserves to be state property and stipulates that they will be explored and developed by consortiums in which Petrobras will have a minimum 30 percent stake.


Read more: http://latino.foxnews.com/latino/money/2011/03/23/petrobras-strengthen-energy-alliance-brazil/

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Petrobras took over the entire share capital of the petrochemical Innova, previously controlled by Petrobras Argentina (Pesa) in a transaction of U.S. $332 million, announced Friday the state.


"With the full participation in the petrochemical assets, Petrobras will have autonomy to make new investments in Innova and to align the performance of this company to its current and future business in Brazil," Apple said.


With the incorporation into the matrix's main petrochemical located in Triunfo, Rio Grande do Sul, "Woe be able to concentrate its activities in Argentina, " Petrobras said in a statement.


Innova produces styrene, polystyrene and ethylbenzene, raw materials, synthetic rubber, acrylic resins and polyester resins used in the manufacture of disposables, paints, foams, tires, paper and packaging, among other uses.

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