Skip to comments.U.S. For Sale: Obama Lets China Gobble Up U.S. Energy
Posted on 01/31/2013 4:14:43 PM PST by raptor22
Oil And Politics: Beijing plays the debt card as the Obama administration quietly lets China acquire major ownership interests in oil and natural gas resources across the U.S. at the same time it blocks the Keystone pipeline.
Normally, foreign investment in the U.S. is to be welcomed. It creates jobs, boosts economic growth and promotes trade and exports.
But when that investor is an ambitious and increasingly belligerent China to whom we owe over a trillion dollars, eyebrows and concerns need to be raised.
Reversing a Bush administration policy, the Obama administration is encouraging Beijing to acquire equity interests in U.S. energy. In 2005, the Bush administration blocked China on grounds of national security from buying California-based Unocal Corp. for $18.4 billion.
That was then, and this is now.
The first Chinese investment occurred in October 2010 with the state-owned Chinese energy giant CNOOC buying a multibillion-dollar stake in 600,000 acres of South Texas oil and gas fields. CNOOC announced that it would pay up to $2.2 billion for a one-third stake in Chesapeake Energy assets.
On the surface, this would seem like a badly needed job-creating investment in a beleaguered domestic oil industry. The question then is why isn't our own government not only encouraging such investment but also removing further restrictions on American oil and gas exploration and development?
(Excerpt) Read more at news.investors.com ...
Obama wants US money to support Saudi Arabia’s Jihadist programs.
Most of the foreign money in Obamas campaign came from China.
Congress is mute filled with traitors to the American
people. And for only a few bits of silver and
freedom from ObamaCARE/DeathCARE/RomneyCARE.
America is soooooooooooooooo screwed.
Nonetheless, that is the case.
We sit idley by without a whimper. The people have no representation.
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A few have advocated that here as a way of paying the foreign debt. It’s been advocated on all kinds of political discussion boards by those whose incomes are dependent on the few who donate much to both political parties.
Isn’t the GOP supposed to be the antidote to communism/socialism?
The climate here is still too cold for bananas.
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