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Politics : The Obama - Clinton Disaster
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To: GROUND ZERO™ who wrote (32130)6/22/2010 10:19:27 AM
From: DuckTapeSunroof  Read Replies (1) of 103300
 
Ex-Im Bank's mission is promoting foreign sales of American products. (Typically these loans are requested by the very American companies who will be making the sales... in this case probably Haliburton, etc., etc.)

Ex-Im doesn't extend loans domestically. That's not it's tasking. (But there are plenty of other sources for that.) Promoting AMERICAN EXPORTS --- that's Ex-Im Bank's job.

Sounds like this is an excellent example of a reasonable deal for Ex-Im to get involved in. It's WELL BACKED by the reserves....

Now... as far as the ban on US deep water drilling, it's only a temporary measure (six months --- clock already ticking down, only a few months more to go) and strictly for the reason of allowing a safety review to be conducted and new safety rules to be written.

(PS --- many foreign locales *already* have tighter safety rules then we ourselves do....)

In the MIDST of the worst environmental disaster in the entire history of our great country --- caused by a lapse in safety conduct or a lack of adequate oversight --- that short pause sounds imminently sensible to me.

(PS - the vast bulk of our offshore oil production is from SHALLOW waters anyway. Not even affected by this deep water pause. And, this is an EXCELLENT TIME for such a pause, given that because of the global recession the world's oil markets are currently extremely well supplied, and so the temp. pause should not produce any price impact whatsoever. Couldn't say that a couple of years ago if this situation had arisen then....)
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