Another example of Obama supporting foreign competition to US oil and supporting drilling anywhere but in the US.The Export-Import Bank of the US intends to guarantee $1 billion in loans to the Mexican state oil company.  An article on the Fox News website explains; Despite President Obama's moratorium on U.S. deepwater drilling in the Gulf of Mexico, the U.S. Export-Import Bank intends to guarantee $1 billion in loans to PEMEX, the Mexican state oil company, to bolster the company's oil drilling in the region. The bank, which is the official American export credit agency, loaned more than $1 billion to PEMEX in 2009 -- when the company was the bank's largest borrower -- in support of its drilling activities. That year, the bank also guaranteed two loans totaling $300 million made by a commercial lender.This comes on the heals of an earlier deal where the Export-Import Bank of the US is going to loan $2 billion to Brazil's state-owned oil company, Petrobras. ...(Read Full Post)