Posted on 04/20/2009 12:11:47 PM PDT by Saint X
If the rumors are true, PetroChina, a Chinese “Government Controlled Entity” (pdf), is on the verge of buying McDermott International, a company that, as I understand things, is the U.S. Navy’s sole provider of nuclear fuel and nuclear fuel assemblies.
McDermott, a Panama “based” corporate tax-avoider, also manages the U.S. Strategic Petroleum Reserve. (along with a lot of other critical national defense infrastructure. Take a look.)
(Excerpt) Read more at blog.usni.org ...
It’s better than buying Treasuries at this point.
“...It’s better than buying Treasuries at this point...”
Sad, but true.
Hell, I figured the Chi-coms probably owned it already.
Isn’t it wonderful being dependent upon a communist country who still very much consider themselves our enemy?
I guess, in an emergency, the Marines could ask 0bama’s permission to take over the facility.
Yeah but look at the price of Tennis Shoes at Wal-Mart! Sounds like a fiar trade to me ... /s
They do if they foreclose!!!!
They do if they foreclose!!!!
In an emergency the Chinese will be safeguarding their nation’s assets, no doubt with assistance from Russian or western hemisphere surrogates like Pal Hugo
Both ends of the Panama canal, and now perhaps our own “SPR?” Imagine a little work slowdown by the Chinese companies in control, or a general worker strike, just when we need access
Not to worry, one of the world’s three largest deposits of soft coal is right there in Utah. Oh....wait.
It is routine that when a foreign company buys a domestic concern the defense-related subsidiaries are sold off.
They have us where they want us.
Contracted to manage & operate Y-12 National Security Complex and Pantex Plant (2000 - )
Manage and operate the Los Alamos National Laboratory as part of Los Alamos National Security, LLC (2006 - )
When I worked for B&W NPGD (before McDermott acquired them) back in the 70’s the Nuclear Fuels Division was a hot item. Got my firefighting training down there.
How much scrap iron do we sell the Chinese? Just asking.
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Much ado about nothing. The supplier of U.S. nuclear fuel is not McDermott, but it’s subsidiary Babcox & Wilcock which is headquartered in the U.S. so is subject to U.S. laws governing mergers and acquisitions. McDermott’s primary business seems to be offshore energy extraction which fits hand in glove with PetroChina’s business.
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