Not elk, but oil: China's Canadian hunt

International Herald Tribune ^

[ddtorque]

China's thirst for oil has brought it to the doorstep of the United States.

Chinese energy companies are on the verge of striking ambitious deals in Canada in efforts to win access to some of the most prized oil reserves in North America. The deals may create unease for the first time since the 1970s in the normally smooth energy relationship between the United States and Canada.

Canada, the largest source of imported oil for the United States, has historically sent almost all its oil exports south by pipeline to help quench America's thirst for energy.

But that arrangement may be about to change as China, now the second-largest oil-consuming nation in the world, flexes its muscles in attempts to secure oil, even in places like the cold boreal forests of northern Alberta, where the oil has to be sucked out of the sticky, sandy soil.

"The China outlet would change our dynamic," said Murray Smith, a former Alberta energy minister who was nominated this month to be the province's representative in Washington, a new position.

Smith said he estimated that Canada could eventually export as much as one million barrels of oil a day to China, out of potential exports of more than three million barrels a day...

..."China's gone after the low-hanging fruit so far," said Gal Luft, a Washington-based authority on energy security issues who is writing a book on China's search for oil supplies. "Now they're entering another level of ambition, in places such as Venezuela, Saudi Arabia and Canada that are well within the American sphere."

[Baby Bear]

Inflation here we come...

[buccaneer81]

Inflation here we come...

No, potential conflict here we come.

[Dr. Marten]

Here they come a knockin on our door.

Panama, South America, Cuba, Mexico and now Canada...

[Slyfox]

Canada, the largest source of imported oil for the United States

Hey, if we really were an oil-grabbing nation wouldn't we have overrun them Kannucks by now?

[Tench_Coxe]

I think there is more to this than just a need for oil by China.

[snowsislander]

Panama, South America, Cuba, Mexico and now Canada...

Cuba, also.

[henderson field]

Canadian whores selling their birthright. They'll live to rue the day.

[monkeywrench]

The good part is, we're "knockin at their door", too.

[Dog Gone]

I have been dealing with Chinese oil companies for several decades now. It's no big deal. I've also been involved in looking into exploration for oil for my company in China.

Enough with the boogeyman talk.

[frannie]

I think you are wrong. You will probably live long enough to see if I am right.
I don't feel it will happen in my life time .
I believe China, as she has stated in many translated Chinese documents, they intend to be the only super power in the world.

They are making a good start. They have manufacturing plants for almost any article you can think of, and many of them American industries.

When you have plants that manufacture a machine or anything needed, it is not too difficult to retool them.

When much of your manufacturing ability has relocated to other countries it takes many years to build new plants.

We didn't furnish the income for Germany or Japan to bring war against us. Nor did we have huge trade deficits with the U.S.S.R. Our trade deficit with China grows every month. I am waiting to see if they will be tne number one
country with which we have a trade deficit this year.

I have watched this for years and it has taken a while but it is growing so rapidly in the last few years that to me is frightening.

I pray I am wrong.

Frannie

[Brian Allen]

<< Not elk, but oil: "china's" Canadian hunt >>

Not elk -- not even oil.

America's every interest and our nation's security are the targets of the Pigking-based pack of predators that calls itself 'china."

But don't be surprised if the canadian state, long since unfriendly and even hostile to America's interests -- and empathetic to our every ememy -- leans to china's favor.

What was it the man said about canadian whores?

Not even -- sluts is what they are -- and probably incapable of the massive upward mobility that would be needed to raise them to the relative nobility of whore-dom!

[two_soon]

"What was it the man said about canadian whores? Not even -- sluts is what they are"


name calling isn't going to solve US energy or security concerns.


alberta needs this project if they're going to make their energy reserve feasible. it will take a huge investment to increase tarsands oil production so access to the global market is crucial. alberta's benefitted from a huge demand for natural gas but these resources are limited. the future is in oil that is costly and difficult to process and requires a huge capital expenditure.


US energy needs are different from alberta and other energy producers. US policy is more focused on controlling energy to use as collateral for the US dollar and ensuring a stable supply for the US. there is little incentive from the US to make the oilsands go ahead in a big way as long as alberta is dependent on US markets. and you can see what happened in many third world countries that use international loans to finance big projects. more often than not prices collapse, interest rates go up and local government is left holding the bag for expensive projects that don't produce


chinese operate in a different way. asia now has the manufacturing so their demand is sustainable and there is huge room for consumption inside these countries. chinese are also putting up their own money into long term agreements to supply them with oil. regardless of canada's proximity to the United States, china is the ideal partner for this sort of venture

[hedgetrimmer]

Venezuela's Chavez pledges support for Chinese oil exploration

- Venezuelan President Hugo Chavez has pledged support for Chinese companies to take part in oil exploration and pipeline construction projects in his country, state media said.


Venezuelan President Hugo Chavez, seen here arriving in Beijing, has pledged support for Chinese companies to take part in oil exploration and pipeline construction projects in his country, state media said. Chavez is on a five-day official visit that aims to bolster his country's oil deals with the Asian giant. He is also to exchange views with Chinese leaders on bilateral relations and international issues of common concern(AFP/File/Goh Chai Hin)

Emphasizing that bilateral energy partnerships have a "bright future," Chavez, who is visiting China, said the Venezuelan government would grant Chinese companies production permits to explore oil in Venezuela's oil-bearing blocks, the Xinhua news agency said.

He also promised to support Chinese companies' involvement in exploring off-shore natural gas fields in Venezuela, according to Xinhua, which said Chavez made the comments to businessmen.

Noting that Venezuela was planning to form a state-owned petrochemical corporation, Chavez said Venezuela also "welcomes China to help build this plant."

The two countries can also join hands to construct an oil pipeline reaching ports along the Pacific, he said.

During his visit, Chavez witnessed the signing of a package of energy cooperation agreements between the two countries, said Xinhua. Details were not given.

China sees Venezuela as important in its quest to diversify and boost its source of oil to meet growing demands for fuel.

Chavez also invited Chinese companies to invest in his country's agriculture, railway, mining, housing, tourism and telecommunications industries.

http://story.news.yahoo.com/news?tmpl=story&u=/041225/photos_bs_afp/041225133422_rrthml1r_photo0

[hedgetrimmer]

China is making deals with Venezuela, one of our top oil suppliers and member of the Organization of American States which will become the supra-governmental agency that oversee the FTAA.

Venezuelan President Hugo Chavez, left, and Chinese President, Hu Jintao, attend a welcome ceremony at the Great Hall of the People in Beijing, China, Thursday, Dec. 23, 2004. Chavez, president of Venezuela, the world's No. 5 oil exporter, arrived Thursday in fuel-hungry China to sign an energy deal and discuss strategic ties. (AP Photo/Ng Han Guan)