Sinking into mediocrity

A person said to me, "Did you know they discovered oil off Brazil?" When I responded that numerous oil deposits are known to exist all over the US, the person was surprised that we don't drill. Huh. Quite naive. Now look at this:

It doesn't take a genius to figure out that if our government pursues policies intended to slow our economic growth, and Brazil pursues policies designed to accelerate its economic growth, before long Brazil will be richer than the U.S. What's really interesting here, however, is the identity of one of Petrobras's biggest shareholders:

With a market capitalization of more than $220 billion, Petrobras is one of the world's 10 biggest companies. Over the past two years, it has been the most frequently traded foreign company on the New York Stock Exchange, trade data show. Among investors bullish on Petrobras is George Soros, who last year made the oil company the largest single holding in his investment fund, according to Bloomberg.

That's right: the Godfather of the Democratic Party, who exerts his enormous political influence to prevent American oil companies from developing our own petroleum resources in the Gulf of Mexico and elsewhere, has placed his biggest bet--not on the United States, but on Brazil. If Exxon Mobil can't compete in the Caribbean with Petrobras, the value of Soros's Petrobras investment will skyrocket. That's the sort of thievery that lies behind the Democratic Party's deliberate hobbling of the American economy.