[Doncarlito]

U.S. Gov't Agency Plans $2.84B Loan for Oil Refinery -- in Colombia...

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.

U.S. Gov't Agency Plans $2.84 Billion Loan for Oil Refinery?In Colombia | CNSnews.com

[urbalatte]

Hopefully it's not a zero percent interest. Wouldn't really surprise me.

[Doncarlito]

Hopefully it's not a zero percent interest. Wouldn't really surprise me.

I'm wondering if we're going to borrow it to loan it, or just print it. It feels like we're living in a Twilight Zone episode.

[Peertantyb]

I'm wondering if we're going to borrow it to loan it, or just print it. It feels like we're living in a Twilight Zone episode.

Yeah, rather than build here at home we outsource our oil needs to other countries and send 500 billion a yr overseas and all the jobs that go with it. Think how many jobs that money would create here at home building refineries and drilling here.

[urbalatte]

Yeah, rather than build here at home we outsource our oil needs to other countries and send 500 billion a yr overseas and all the jobs that go with it. Think how many jobs that money would create here at home building refineries and drilling here.

Well if they get a decent interest return, it's actually more beneficial since you can use the profit here.

Why do I doubt they'll ever get the investment back though. Ever hear of something called the San Sebastian Mines?