You're watching...
FBN’s Gerri Willis on the U.S.’s stake in Brazilian oil while slowing drilling permits in America.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
Well next time you're standing at the gas pump you might want to remember the president's meeting today with the Brazilian president.
Hello everybody I'm Gerri Willis that meeting was to discuss economic issues with the Brazilian leader but make no mistake here what they're really talking about oil.
What you could call our oil or least partly our oil because in fact we have a stake in Brazilian oil.
Our export import bank backed a portion of the two billion to the two billion dollar loan to the government control driller pepto Petrobras.
Which is certainly more than our president was willing to do for US based oil drillers in fact.
The president has slowed drilling permits here in the US fewer permits less domestically produced oil.
Doesn't have a positive impact on our oil prices so what's good for Brazil not so good for us necessarily.
Which is why you should think about today's dog and pony show what the White House PR for the president paying for us that's might.
