MMC
05-26-2012, 09:35 AM
http://endoftheamericandream.com/wp-content/uploads/2012/05/Obama-Chinese-300x199.jpg
If we are trying to become independent of foreign oil, then why is the Obama administration allowing the Chinese government to buy up U.S. oil and gas deposits worth billions of dollars? This makes absolutely no sense whatsoever. The United States desperately needs to maintain control over its own domestic energy resources so that we can end our addiction to foreign oil.
The Chinese government is using two giant corporations to buy up these energy resources.
The first is the China National Offshore Oil Corporation (CNOOC)
The second is Sinopec Corporation. Sinopec Group is the largest shareholder (about 75% of the shares) in Sinopec Corporation.
For example, CNOOC recently completed a 570 million dollar deal that gives it a one-third interest in huge oil and gas deposits in Colorado and Wyoming.
In fact, according to a recent Business Insider article (http://www.businessinsider.com/china-cnooc-investment-niobrara-shale-2011-2#ixzz1CsT0IkQ4), this deal gives the Chinese government the right to a third of any new oil discovered by Chesapeake Energy in the entire region.
But this is not the only area of the country where China now owns energy rights. The following is an excerpt from a recent state-by-state breakdown that appeared in the Wall Street Journal (http://blogs.wsj.com/deals/2012/03/06/chinas-footprint-in-us-oil-a-state-by-state-list/).
Louisiana: Sinopec has a one-third interest in 265,000 acres in the Tuscaloosa Marine Shale after a broader $2.5-billion deal with Devon Energy.
Michigan: Sinopec gained a one-third interest in 350,000 acres in a larger $2.5 billion deal with Devon Energy.
Ohio: Sinopec acquired a one-third stake in Devon Energy’s 235,000 Utica Shale acres in a larger $2.5 billion deal.
Oklahoma: Sinopec has a one-third interest in 215,000 acres in a broader $2.5 billion deal with Devon Energy.
Texas: Cnooc acquired a one-third interest in Chesapeake Energy’s 600,000 acres in the Eagle Ford Shale in a $2.16-billion deal.
The Texas deal was particularly noteworthy:
State-owned Chinese energy giant CNOOC is buying a multibillion-dollar stake in 600,000 acres of South Texas oil and gas fields, potentially testing the political waters for further expansion into U.S. energy reserves.
With the announcement Monday that it would pay up to $2.2 billion for a one-third stake in Chesapeake Energy assets, CNOOC lays claim to a share of properties that eventually could produce up to half a million barrels a day of oil equivalent.....snip~
http://endoftheamericandream.com/archives/why-is-the-obama-administration-allowing-the-chinese-government-to-buy-up-u-s-oil-and-gas-deposits-worth-billions-of-dollars
This is from this guy's site.....he has looked into this issue and is on the mark. What is going on? It's not just gas/oil either. It's also huge Chunks of Real Estate.....aka US Soil. Plus The Fed has said it will allow Chinese banks to buy up US Banks.
I want that list of Banks owned by the Chinese as I will make sure none of my money goes into them.
Moreover Obama released his energy plan in Iowa recently. After coming back from a Califonia fundraiser. There was a newspiece up with California Politicians giving the Chinese, Infrastructure work for bridgework connecting Oakland and SF I think it said. Conley should know he is out that way.
Over 3000 construction jobs lost by American workers and given to a Chinese company. Those California pols cited right off the top it was cheaper to go with the Chinese and that they have welders. American companies countered they could have done the job for the same costs or therebouts. California went around buy American Laws. Which states should not be doing. The work is ours and we cannot trust the Chinese to handle projects with a major infrastructure.
We certainly cannot be giving the Chinese access into our Oil and Gas reserves. This must be countered and turned around! :angry:
Note these are Democratic Led governments that are doing this in both Illinois and California. With regards to Infrastructure and bridge-work or highways. Damns and levis too.
If we are trying to become independent of foreign oil, then why is the Obama administration allowing the Chinese government to buy up U.S. oil and gas deposits worth billions of dollars? This makes absolutely no sense whatsoever. The United States desperately needs to maintain control over its own domestic energy resources so that we can end our addiction to foreign oil.
The Chinese government is using two giant corporations to buy up these energy resources.
The first is the China National Offshore Oil Corporation (CNOOC)
The second is Sinopec Corporation. Sinopec Group is the largest shareholder (about 75% of the shares) in Sinopec Corporation.
For example, CNOOC recently completed a 570 million dollar deal that gives it a one-third interest in huge oil and gas deposits in Colorado and Wyoming.
In fact, according to a recent Business Insider article (http://www.businessinsider.com/china-cnooc-investment-niobrara-shale-2011-2#ixzz1CsT0IkQ4), this deal gives the Chinese government the right to a third of any new oil discovered by Chesapeake Energy in the entire region.
But this is not the only area of the country where China now owns energy rights. The following is an excerpt from a recent state-by-state breakdown that appeared in the Wall Street Journal (http://blogs.wsj.com/deals/2012/03/06/chinas-footprint-in-us-oil-a-state-by-state-list/).
Louisiana: Sinopec has a one-third interest in 265,000 acres in the Tuscaloosa Marine Shale after a broader $2.5-billion deal with Devon Energy.
Michigan: Sinopec gained a one-third interest in 350,000 acres in a larger $2.5 billion deal with Devon Energy.
Ohio: Sinopec acquired a one-third stake in Devon Energy’s 235,000 Utica Shale acres in a larger $2.5 billion deal.
Oklahoma: Sinopec has a one-third interest in 215,000 acres in a broader $2.5 billion deal with Devon Energy.
Texas: Cnooc acquired a one-third interest in Chesapeake Energy’s 600,000 acres in the Eagle Ford Shale in a $2.16-billion deal.
The Texas deal was particularly noteworthy:
State-owned Chinese energy giant CNOOC is buying a multibillion-dollar stake in 600,000 acres of South Texas oil and gas fields, potentially testing the political waters for further expansion into U.S. energy reserves.
With the announcement Monday that it would pay up to $2.2 billion for a one-third stake in Chesapeake Energy assets, CNOOC lays claim to a share of properties that eventually could produce up to half a million barrels a day of oil equivalent.....snip~
http://endoftheamericandream.com/archives/why-is-the-obama-administration-allowing-the-chinese-government-to-buy-up-u-s-oil-and-gas-deposits-worth-billions-of-dollars
This is from this guy's site.....he has looked into this issue and is on the mark. What is going on? It's not just gas/oil either. It's also huge Chunks of Real Estate.....aka US Soil. Plus The Fed has said it will allow Chinese banks to buy up US Banks.
I want that list of Banks owned by the Chinese as I will make sure none of my money goes into them.
Moreover Obama released his energy plan in Iowa recently. After coming back from a Califonia fundraiser. There was a newspiece up with California Politicians giving the Chinese, Infrastructure work for bridgework connecting Oakland and SF I think it said. Conley should know he is out that way.
Over 3000 construction jobs lost by American workers and given to a Chinese company. Those California pols cited right off the top it was cheaper to go with the Chinese and that they have welders. American companies countered they could have done the job for the same costs or therebouts. California went around buy American Laws. Which states should not be doing. The work is ours and we cannot trust the Chinese to handle projects with a major infrastructure.
We certainly cannot be giving the Chinese access into our Oil and Gas reserves. This must be countered and turned around! :angry:
Note these are Democratic Led governments that are doing this in both Illinois and California. With regards to Infrastructure and bridge-work or highways. Damns and levis too.