Skip to comments.[$15.1 Billion] China-Canada oil deal raises hackles in US
Posted on 07/29/2012 7:46:19 AM PDT by LorianneEdited on 07/29/2012 7:56:26 AM PDT by Admin Moderator. [history]
Senator Schumer demands inter-agency committee to block the CNOOC-Nexen deal
The US government should block a bid by Chinas state oil company CNOOC for Canadian oil company Nexen until Chinas government provides fair access for US companies that want to invest in China, a top Democratic senator plans to tell Treasury Secretary Timothy Geithner on Friday.
In a draft letter obtained by Reuters, Charles Schumer, the Senates No 3 Democrat and a frequent critic of Chinas trade and currency policy, said the powerful Committee on Foreign Investment in the United States (CFIUS) should not approve the deal until China makes tangible, enforceable commitments on market access for US companies.
The US inter-agency committee reviews foreign takeovers of US assets for national security concerns. About 10 per cent of Nexens assets are in the United States, where it has oil drilling operations in the Gulf of Mexico.
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Why can't Canada sell its oil to whomever it wants?
Who the hell is Schumer to tell some agency to block them?
Right - No oil sales for you and no oil independence for the US. Democrat Liberals are traitors to the country.
Exactly correct. This isn’t China’s or Canada’s fault. It’s Obama’s fault.
In the UK, they’d call that “cheeky.”
It would raise a hackle or two if they had their drills tilted toward our soil.
Should of built the Keystone pipeline, and struck a deal with the Canadians. Instead, we let the tree huggers dicate policy, and turned our back on our neighbors. Anyone in the US who complains doesn’t have a leg to stand on.
That's the ruse; it was really Buffett and his railroad investment that Obango was looking out for. Not the environment, NOT the American people's interest - follow the money.
Exactly. If ODemAss and the Marxist Dems don’t want their oil, then they’ll take their business elsewhere. Not hard to understand at all.
Isn’t it that mega rich woman in San Francisco who was withholding her bribes to Obama who made him cancel the Keystone pipeline? She recently was riding on AF1.
Our government for sale at the expense of all us serfs.
Furthermore - what business of Obama’s is it for the states to have a pipeline anyway? Shouldn’t even be in his power to dictate this. Stupid question...I know.
What a great deal for Nexen; China brings the equipment and the labor to extract the oil and get it to an oil terminal (through a Chinese built and owned) port that the Chinese will build. No messing with the two-faced USA. Nexen just collects the money.
This must make the US environmentalists feel very proud.
This is so easy. Nexen simply packages and spins off its US assets. Schumer is such a putz. Not even a speed bump in this deal.
The people running our country are the biggest collection of morons in the history of the world.
Sadly, Schumer is my Senator. He is a PR and media whore. The most dangerous place on earth is to get between him and a TV camera.
A nation acting in its own best interest?
That is a notion that has never entered the mind of our White House occupant or 99% of the State Department, Congress or the Senate.
Obama really screwed the USA with his decision to stop the Keystone Pipeline.
ObamaCare will cost America trillions.
Stopping the Keystone Pipeline will also cost trillions by forcing us to buy more expensive oil.
Exactly. The Chinese don't want another CFIUS fight. Besides, they already have access to the Gulf of Mexico via the Cuban pals. Plus, the final takeover price is bound to be lower: a "win-win" situation. And the PRC gets to thumb its nose at Schemer and his buddies.
I am sure China is just shaking in their pants. This guy is a joke. It is people like Schumer who put this country on the road to irrelevancy. I would shed a tear if this man dropped dead. Just saying....
BNSF couldn’t handle the traffic, even if they wanted to. UP probably has more track in the area anyway, or could get it in a hurry.
Schumer for one time in his life, is correct.