On August 15, 2008, Bloomberg repoted:
Billionaire investor George Soros bought an $811 million stake in Petroleo Brasileiro SA in the second quarter, making the Brazilian state-controlled oil company his investment fund's largest holding.
On August 19, 2009, the Wall Street Journal reported:
Obama Underwrites Offshore Drilling
You read that headline correctly. Unfortunately, the Obama Administration is financing oil exploration off Brazil.
The U.S. is going to lend billions of dollars to Brazil's state-owned oil company, Petrobras [which is short for Petroleo Brasileiro], to finance exploration of the huge offshore discovery in Brazil's Tupi oil field in the Santos Basin near Rio de Janeiro. Brazil's planning minister confirmed that White House National Security Adviser James Jones met this month with Brazilian officials to talk about the loan.
George Soros still has a huge position in Petroleo Brasileiro. According to most-recent filings, Petroleo is over 20% of his hedge fund's portfolio. It's time for the media to start looking into the Halliburton of the Obama Administration.
