Big Oil Evil...unless you are a foreign company...

[general35]

The U.S. Export-Import Bank, an independent agency of the federal government, is now planning a $2.84-billion loan for a massive project to expand and upgrade an oil refinery--in Cartagena, Colombia.

The money would go to Reficar, a wholly owned subsidiary of Ecopetrol, the Colombian national oil company.

“This is part of a $5.18 billion refinery and upgrade project in Cartagena, Colombia supplying petroleum products to the domestic and export markets,” the Export-Import Bank said in a statement.

The U.S. government-controlled bank says the $2.84-billion in financing it plans to undertake will be the second largest project it has ever done. The largest was $3 billion in financing for a liquid natural gas project in Papua New Guinea.

According to the National Petrochemical & Refiners Association (NPRA), 95 percent of the gasoline purchased by U.S. consumers is refined inside the United States, meaning that expanding the gasoline refining capacity of Colombia is unlikely to have a significant impact on the supply of refined gasoline in the Untied States.
The Link

 

[Namewithheld]

Sadly, I am not surprised one bit.

 

[mcbrett]

Generalization,

1)

In reply to:

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[Sangre Naranjada]

And you're getting snarkier by the day. What else is new?

 

[general35]

3) The EI bank is Independent. Sorry, but Barack Obama and Nancy Pelosi were in no way involved in this decision- thus, the title and premise of this thread is completely misleading. Not only has no one called "Big OIl" evil, but they had nothing to do with this decision.
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When did i say obama or pelosi were involved? i hear that big oil is evil on all sorts of left wing media. I can go back and count all the negative posts and stories regarding oil companies. The BP threads are a good start or how about when democratic legislators have publicly discussed socializing the oil companies because they dont like them. I think this thread is relevant because its an unnecessary cost by our government. The columbian government is a socialist corrupt regime. there is no telling where this money is going to go. they have their own oil, they do not need a loan from us. your quote from story about ssaving 15,000 jobs is in my opinion a joke and not true. it was placed in the article as a justification for the loan. we receive no refined gasoline from columbia so i find those statistics sketchy. obama destroyed many more jobs than that in louisiana following his BP decisions. even mary landrieu has publicly admonished these decisions. you would probably have to watch cspan or live in louisiana to see them . Either way, 200k a job seems a bit steep dont you think?