Obama shuts down US rigs, helps Mexico?

Does this seem like the act of an American President that loves his nation?

U.S. Backs $1B Loan to Mexico for Oil Drilling Despite Obama Moratorium

Despite President Obama’s moratorium on U.S. deepwater drilling in the Gulf of Mexico, the U.S. Export-Import Bank intends to guarantee $1 billion in loans to PEMEX, the Mexican state oil company, to bolster the company’s oil drilling in the region.

The bank, which is the official American export credit agency, loaned more than $1 billion to PEMEX in 2009 — when the company was the bank’s largest borrower — in support of its drilling activities. That year, the bank also guaranteed two loans totaling $300 million made by a commercial lender.

The latest request comes during a drilling moratorium that was first imposed by Obama in May to find out what was the cause behind the April 20 Deepwater Horizon oil rig explosion killed 11 workers and led to 206 million gallons of oil spewing from BP’s undersea well.

So what do you think the net result of this action will be? Mexican oil rig workers employed, American workers unemployed. We will then be dependent on Mexican oil as well as Arab oil? So exactly how is this helpful? I’m hoping some of you liberal Progressive Obamabots can explain this to me and the rest of the nation.