This response is from Senator McCaskill Democrat from Missouri. I sent off an inquiry to Senator Bond Republican from Missouri but have not gotten a response. Which tells me he could care less for the people who elected him?
The reason I sent off an Inquiry about this is I received an E-Mail from a misguided someone blaming Pres. Obama for committing to loan The Brazilian oil company 2 Billion dollars and the oil was in total earmarked to be sold to China. This should clear this up. People should always check out what they are sending out. Get the facts, there are to many rumors going around that are not fact. But just because they get it slamming some one from a different Political party they think it is fact, Get it together folks!
From: senator@mccaskill.senate.gov [mailto:senator@mccaskill.senate.gov]
Sent: Friday, February 19, 2010 3:48 PM
To: billonthehill@windstream.net
Subject: Reply from Senator McCaskill
February 19, 2010
Dear Mr. Keck,
Thank you for contacting me regarding the proposed Export-Import Bank loans to Brazil's state-owned oil company, Petrobras. I appreciate hearing from you, and welcome the opportunity to respond.
Numerous stories have appeared in the media regarding a preliminary commitment by the Export-Import Bank of the United States to lend up to $2 billion to Petrobras, the state-owned Brazilian oil company. Unfortunately, many of these stories have included inaccuracies and misleading statements.
The Export-Import Bank of the United States is the official export credit agency of the United States. For over 70 years, the bank has helped finance the export of U.S. goods and services to international markets. On April 14th, the Export-Import Bank approved a $2 billion preliminary commitment to Petroleo Brasileiro S.A. (Petrobras), Brazil's national oil company. The commitment received unanimous approval from the Export-Import Bank's bipartisan Board of Directors. At the time, the Bank's Board consisted of three Republicans and two Democrats, all of whom were appointed by President Bush.
Only American made goods and services qualify for Export-Import Bank financial support. If the bank gives final approval to the $2 billion loan to Petrobras, the funds will go to American exporters as payment for their sales to the Brazilian company. Importantly, this loan will be made without cost or risk to the taxpayer. Fees charged by the Export-Import Bank to foreign buyers make the bank self-sustaining and it receives no appropriated funds from Congress. In fact, fees charged to foreign companies by the bank have netted over $4.9 billion for U.S. taxpayers over the past 16 years.
The caliber of the American worker is second to none, and our expertise is sought by companies across the globe. The Export-Import Bank ensures that foreign companies are able to finance purchases of American goods and services, supporting job creation at no cost to the taxpayer. I hope this answers any questions or concerns you have regarding this issue.
Again, thank you for contacting me. Please do not hesitate to contact me in the future if I can be of further assistance to you on this or any other issue.
Sincerely,
Claire McCaskill
United States Senator
P.S. If you would like more information about resources that can help Missourians, or what I am doing in the Senate on your behalf, please sign up for my email newsletter at www.mccaskill.senate.gov.
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