Why is China investing in oil and gas reserves in our hemisphere while we do nothing to increase production and transmission?


Someone in our US Government Leadership (no pun intended) had better wake up and open their eyes to what is going on all around us – literally to our north and our south. China – yes that’s CHINA will be one of the larger owners of oil and gas production in our part of the world – if this deal is approved.

The Chinese see the wisdom of owning and shipping oil and natural gas in our hemisphere – yet we can’t get Congress and President Obama to get a bill passed and signed – that for our security and economic development will get us off our liberal, environmental butts and start building these sorely needed natural gas transportation pipelines and confirming our oil reserves by drilling.

Uncle Larry

News Alert from The Wall Street Journal
China’s Cnooc will buy Canadian oil and gas producer Nexen for $15.1 billion in cash, in China’s largest overseas energy acquisition to date.
Cnooc will pay $27.50 a share for Nexen, representing a 61% premium to the Canadian company’s closing price Friday on the New York Stock Exchange.
State-owned Cnooc is China’s largest offshore oil company by production. The deal will give it ownership of oil and gas reserves in western Canada, the U.K.’s North Sea, the Gulf of Mexico and offshore Nigeria.

http://online.wsj.com/article/SB10000872396390443437504577544470741886332.html?mod=djemalertNEWS

One thought on “Why is China investing in oil and gas reserves in our hemisphere while we do nothing to increase production and transmission?

  1. Chicago

    We need to start learning to speak Chinese. Being a girl from Oklahoma, this just makes me sick. I went through the early 80’s oil bust – thanks to Jimmy Carter and the DOE. Has this country not learned anything!!

    Drill baby Drill! on our soil.

    Have you also seen the latest EPA regulations that will not let them mine for gold and precious metals worth an estimated $500 Billion, in Alaska because it might cause damage to salmon. Come on we eat a lot of salmon, but………..

    Reply

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