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.
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.