Town Hall Patriots: Gas Prices Up for 30 Straight Days

Friday, April 22, 2011

Gas Prices Up for 30 Straight Days

Barack Obama is making sure NO oil is produced by new drilling in the United States.

Barack Obama Personally appointed the Board of Directors.
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(CNSNews.com) - 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.

The statement released by the bank said that on April 7 the bank’s presidentially-appointed board of directors had “voted to grant preliminary approval for a $2.84 billion direct loan/loan guarantee” for the Colombian refinery project.

http://www.cnsnews.com/news/article/feds-plan-284-billion-loan-oil-refinery

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