Read here. Investing in an Indian solar project is not what most Americans would think to be a good and appropriate use of American financing during difficult economic times. For a president that constantly talks about creating new jobs for Americans, he certainly doesn't 'walk the talk' unless it's in another country.
"The $500 million in new loans will come on top of $75 million in financing that the Export-Import Bank has already provided this year for solar power projects in India...“In fiscal year 2011 to date, the Bank has approved financing totaling approximately $75 million for four solar projects in India,” the bank said...“The Bank also has about $500 million of India solar projects in the pipeline that will generate an estimated 315 MW of solar power.”...While in India last month, Export-Import Bank Chairman Fred Hochberg, an Obama appointee, announced two of the new solar projects the U.S.-government bank will be financing."
Amazingly, this is not the only non-U.S. energy project this president has supported. Instead of helping American companies drill for oil in our own backyard, he instead provided direct help for development of the Brazilian oil fields, which the oil will then be sold to China. Figures.
Hmmm.....I wonder. If he were to aggressively help U.S. oil, natural gas and coal companies to extract our mineral wealth for either internal or overseas sales, would that increase jobs in America? Just asking.
Previous presidential-candidate postings.