If you are interested in the history then google Newnes NSW.
Posted on 10/12/2010 4:09:34 AM PDT by Racehorse
State-owned Chinese energy giant CNOOC is buying a multibillion-dollar stake in 600,000 acres of South Texas oil and gas fields, potentially testing the political waters for further expansion into U.S. energy reserves.
With the announcement Monday that it would pay up to $2.2 billion for a one-third stake in Chesapeake Energy assets, CNOOC lays claim to a share of properties that eventually could produce up to half a million barrels a day of oil equivalent.
It also might pick up some American know-how about tapping the hard-to-get deposits trapped in dense shale rock formations, analysts said.
As part of the deal, the largest purchase of an interest in U.S. energy assets by a Chinese company, CNOOC has agreed to pay about $1.1 billion for a chunk of Chesapeake’s assets in the Eagle Ford, a broad oil and gas formation that runs largely from southwest of San Antonio to the Mexican border.
CNOOC also will provide up to $1.1 billion more to cover drilling costs.
The deal represents China’s second try at making a big move into the U.S. oil and gas market, following a failed bid five years ago to buy California-based Unocal Corp.
(Excerpt) Read more at mysanantonio.com ...
yep and the ruskies are buying our uranium mines.
makes you feel all warm and fuzzy don’t it?
The Chinese have trillions of US Dollars they would love to convert at current values!
Sad fact: The Chinese are my new best friend!
They are the only ones who want to uphold the value of my pension!
Far out! Didn’t we used to go to war for this kind stuff man?
Shell Insutu extraction process delivers high grade crude for less than $35 per barrel.
Things that are not “cost effective” when oil is selling for $30 a barrel look different when they drive the price up to $300 a barrel. The broader scheme has to do with taking over U.S. resources at the same time the commies in the White House are shutting down U.S. energy production on every level. Couple that with China's cornering and control of rare earth minerals and huge military buildup, it's more than “reason for concern”, it's the first stage of economic and military takeover of our Nation.
Far out! Didn’t we used to go to war for this kind stuff man?
Drivel
The Chinese aren’t stupid. They know that all those $$ they hold could collapse in value, and then they’d have nothing. They want to buy hard assets that will keep their value no matter what happens in the market place. They have stopped buying our debt, in T-Bills, in huge quantities, Japan has moved into first place, now. They also know that the US isn’t a nation that will nationalize foreign investments like Chavez or Mugabe will. As I heard an economist once say, all those dollars have to come back home eventually................
www.globalpetroleumclub.com ^ | 03-19-2010 | Staff
Canada has more energy in its “proven, recoverable” reserves of coal than it has in all of its oil, natural gas and oil sands combined: 10 billion tonnes. The world has 100 times more: one trillion tonnes. These reserves hold the energy equivalent of more than four trillion barrels of oil. They are scattered in 70 countries, mostly in relatively easy-to-mine locations and mostly in democratic countries.
The United States alone has 30 per cent of the world’s reserves, and scientists in Texas say they have found a way to convert coal into gasoline at a cost of less than $30 (U.S.) a barrel - with zero release of pollutants.
Researchers at the University of Texas at Arlington (UTA) announced last month that they have developed a clean way to turn the cheapest kind of coal - lignite, common in Texas - into synthetic crude. “We go from that [lignite coal] to this really nice liquid,” Brian Dennis, a member of the research team, said in describing the synthetic crude that can be refined into gasoline.
http://en.wikipedia.org/wiki/Shale_oil_extraction
Shale oil extraction - Wikipedia, the free encyclopedia
The Shell in situ conversion process (Shell ICP) uses electrical heating elements .... the cost of producing a barrel of shale oil at a hypothetical surface ... a profit when crude oil prices are higher than $30 per barrel ($190/m3), ...
en.wikipedia.org/wiki/Shale_oil_extraction - Cached - Similar
“They are downsizing and outsourcing our wealth creating industries, refusing to provide funding for our government, allowing our national infrastructure to crumble and decay, and obstructing the implementation of competitive, energy saving technologies. “
You’re such a trip, you need your own travel agency.
Estona has been doing it for decades.
Brazil and China have been producing petroleum from oil shale for many years as well.
We are held back by politics, not technology.
I for one welcome our new imperial overlords and will enjoy watching them treat the EPA and enviro-whackos as mere annoyances when they try to impede the rape of our resources
Sell them ANWR while we’re at it
sarc
. Couple that with China's cornering and control of rare earth minerals
I believe that was a major reason why China wanted Unocal, that company owned Molycorp which is the only REM mining company operating in the U.S. Though the enemedia and our government said it was only about oil, clearly it was about China controling all of the REM production on the planet.
Given the continual pattern of sedition and treason of our enemedia and government I wonder what the true purpose of China's interest in this field really is.
I believe this sell-off of US mainland resources was what Madame Rodham was referring to early in 2009 when she reportedly agreed to allow the Chinese “eminent domain” in return for continuing to fund our debt
They will offload our resources onto their ships in the US ports they lease, and ship them home through the Panamaa Canal which they control
I figured they would patrol the streets someday but I could not understand how they would get enough troops here.
Heck, they will pay us with the greenbacks we “gave” them and move tens of thousands of troops the old fashioned way
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