[ExelePlavisseu]

Wealth redistribution. That what the Obamunists are all about---spreading America's hard-earned wealth around the world.

http://www.cnsnews.com/news/article/...n-oil-refinery

U.S. Gov't Agency Plans $2.84 Billion Loan for Oil Refinery—In Colombia

Monday, April 18, 2011

By Terence P. Jeffrey

(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.

[JaK_MarkoV_Pi]

This is great news. It's a trade export deal. This is a deal to use the money to put American firms to work.

This is what Obama's South American trip was about, and it looks like it's working as hoped. Plus we make interest on the loan. Well done.

Reuters: http://af.reuters.com/article/energy...28653320110407
"The financing, when finally approved, will support the purchases of equipment and services from over 150 large and small U.S. engineering/design, equipment supply, contracting and process license firms," it said.