From Spain to Britain to Brazil to Japan, foreign companies are reaping the benefits of Obama’s corporate welfare giveaway program, a.k.a. stimulus packages. American taxpayers will provide the money, and foreign companies will be the contractors for the newly popular renewable energy projects, then the little energy produced will be sold back to increasingly impoverished Americans.

Spanish company Iberdrola has been awarded most of the $500 million in economic recovery funds from the Obama administration. Iberdrola will be constructing wind farms in Texas, Pennsylvania, Oregon and Minnesota, with Arizona, Illinois, and North Dakota seeing other renewable energy projects constructed by Iberdrola.

A British company, Terra Firma Capital Partners, recently bought a controlling stake in EverPower Wind Holdings, which gets the grant for one Pennsylvania wind farm project.

Japan’s Mitsubishi Corp., stands to reap rewards from this as well — they will provide the wind turbines for Iberdrola.

Treasury Secretary Tim Geithner says, “This renewable energy program will spur the manufacture and development of clean energy in urban and rural America.” He fails to say by whom. President Obama offers the usual mantra that it will create new jobs, again for whom?

Most recently, wind energy companies have been receiving tax credits. But with Obama’s regime, it’s cash on the barrel handed directly to these foreign companies. An Iberdrola spokeswoman says they are “delighted” and will put stimulus money to use right away. I’ll bet.

And then there is the Brazilian oil company Obama is also “lending” our money to through the Ex-Im Bank. Petrobras, the Brazilian state-owned oil company, will benefit to the tune of $2 billion for offshore drilling.

Do you think George Soros knew in advance Obama was going to let Petrobras have $2 billion of taxpayer money? Funny how the Soros Fund Management LLC bought a $811 million stake in Petrobras — Petroleo Brasileiro SA — in the second quarter, making it that fund’s largest holding. (Soros also bought heavily into Lehman Brothers Holdings, Inc., and expanded his mining and commodities by buying into an iron-ore producer and a Canadian gas and oil company, for those who are curious.)

The Soros-Obama partnership is a win-win situation. Obama’s economic policies help Soros to wildly increase his already stratospheric financial empire, and Soros in turn dumps money into funding Acorn, Obama’s health care reform propaganda machine, his community organizers, the cap and trade crowd, and the global warming extremists for their agenda as well.

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Kenneth Creech

September 15, 2009

68.221.103.9

Votes: +0

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It seems to me that the US can not take four years of this runaway democratic madness.
Although the republicans are complicit for they folded under pressure and started the high roller give away with the first bankrupting bill to bailout the "goldman sachs" type in 2008. Does it not make us wonder why they let Lehman fall? Could it possibly be Paulson and Geithner and co. had no interests there? Rarely a defender of our republic but the first to send our troops to the far reaches of the where very few Americans will ever go we need to curtail this wild expansionism to what is necessary to defend our nation and cease to think we must "stabilize" every little fiefdom around the world!!

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