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U.S. For Sale: Obama Lets China Gobble Up U.S. Energy
Inestor's Business Daily ^ | January 31, 2013 | IBD EDITORIALS

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 ...


TOPICS: Canada; Editorial; Foreign Affairs
KEYWORDS: china; chinaenergy; cnooc; eagleford; energy; ibd; ibdenergy; keystonexl; oil; shale; sinopec; tm

1 posted on 01/31/2013 4:14:56 PM PST by raptor22
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To: raptor22

Obama wants US money to support Saudi Arabia’s Jihadist programs.


2 posted on 01/31/2013 4:18:49 PM PST by aimhigh ( Guns do not kill people. Planned Parenthood kills people.)
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To: aimhigh

Most of the foreign money in Obamas campaign came from China.


3 posted on 01/31/2013 4:23:11 PM PST by Jonty30 (What Islam and secularism have in common is that they are both death cults.)
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To: raptor22

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.


4 posted on 01/31/2013 4:24:43 PM PST by Diogenesis (Vi veri veniversum vivus vici)
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To: raptor22
Hard for most people to realize that the present President of the United States is more interested in advancing the economies of other nations than he is ours.

Nonetheless, that is the case.

5 posted on 01/31/2013 4:34:59 PM PST by elkfersupper ( Member of the Original Defiant Class)
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To: aimhigh

We sit idley by without a whimper. The people have no representation.


6 posted on 01/31/2013 4:36:28 PM PST by ronnie raygun ( Lexington / Concord, America's first gun grab attempt)
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To: Nachum; markomalley; Clairity; Carlucci; grey_whiskers; meyer; WL-law; Para-Ord.45; ...

IBD EDITORIAL PING


7 posted on 01/31/2013 4:43:34 PM PST by raptor22 (Visit my blog at True Conservatives on Twitter: http://t.co/IKpP3cwq)
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To: Nachum; markomalley; Clairity; Carlucci; grey_whiskers; meyer; WL-law; Para-Ord.45; ...

IBD EDITORIAL PING


8 posted on 01/31/2013 4:44:08 PM PST by raptor22 (Visit my blog at True Conservatives on Twitter: http://t.co/IKpP3cwq)
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, Ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/


9 posted on 01/31/2013 4:48:33 PM PST by Nachum (The Obama "List" at www.nachumlist.com)
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To: raptor22
They have no choice but to dump their soon-to-be-worthless dollars into hard assets like this. It would be stupid to expect them to do otherwise. The only question is how long they play along pretending their investments are not a strategic takeover and then how long they accept dollars at all. I don't think it matters in this particular case whether the Stupid or Evil parties are in power, they are both going to sell our assets to China albeit for different reasons.
10 posted on 01/31/2013 5:27:42 PM PST by palmer (Obama = Carter + affirmative action)
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To: raptor22

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.


11 posted on 01/31/2013 5:32:24 PM PST by familyop (We Baby Boomers are croaking in an avalanche of rotten politics smelled around the planet.)
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To: ronnie raygun

Isn’t the GOP supposed to be the antidote to communism/socialism?


12 posted on 01/31/2013 6:30:56 PM PST by 353FMG ( I refuse to specify whether I am serious or sarcastic -- I respect FReepers too much.)
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To: raptor22

The climate here is still too cold for bananas.


13 posted on 01/31/2013 9:47:49 PM PST by clearcarbon
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