Brazil, Soros, Get BillionsSharp eyed news fans might have noticed that the Obama administration today gave Petrobras, the Brazil petroleum company and the worlds eleventh highest valued company, a commitment for two billion dollars to drill in deep water offshore from that country's coast. Even sharper eyes might have noticed that George Soros owns about one billion dollars of stock in Petrobras. Even more curious eyes would have noticed that, just days before Obama invested in the company, Soros announced that he had reduced his stake in Petrobras. But financially savvy readers might note that this was a move from common shares to preferred shares, which pay dividends. Thus George Soros upped the ante by putting himself in the revenue stream mere days before his good buddy Obama paved the way for much higher earnings.
I suppose it would be out of line for me to wonder why Obama would reverse course on his disdain for petroleum and support drilling, when he claims to want to stop using petroleum altogether. I guess that only wild eyed conservative wackos will draw any conclusions about possible collusion between the Obama administration and their benefactor, the principal funder of moveon.org. I must be stupid and evil to see any connection between these events. Not the first time, not the last.