Chinese Firm Plans $1.3 Billion Purchase Of Texas Oil Lands

NPR ^ | October 25, 2015 | BRAKKTON BOOKER

[familyop]

I wish I did. ;-)

[lentulusgracchus]

Dubya vetoed, iirc, a proposed Chicom (think it was CNOOC) buyout of Union Cal, which owned big acreage Stateside as well as some big fields in the Gulf of Siam. That was about 18 years ago.

The Chinese did buy Nexen (formerly called Canadian Oxy) and got a big chunk of Athabaskan Tar Sands producing properties, plus other properties.

[lentulusgracchus]

I’ve lived in China. I give a sh!t we are giving them the future.

The only way your statement makes sense is if you are an ethnic Chinese living over here among us Roundeye kwai loh devil-heads.

Otherwise, it's gratuitous malice toward your own.

[lentulusgracchus]

Investment money is investment money, they are not gonna import a buncha their foke to come over..

Wrongo. The Chinese did a deal with Encana (don't know what happened to USG permits, think they were pre-stamped in secret knowing there would be opposition), I think during the last of the Bush Administration, to bring two Chinese rigs with 100% Chinese crews over to drill the Overthrust trend, for gas, in the Colorado Rockies. They didn't want any American rigs or crews in the deal. (Encana, before they were bought, were a Canadian company.)

The Overthrust may be dead on economics these days, the deal may not have gone forward, torpedoed by cheap frac gas (note: correct spelling in the industry is "frac" not "frack". The latter spelling is useful, though, as a flag marking an ignorant writer.), but if the Chinese return, I'd expect them once again to attempt importing 100% Chinese crews.

But given their druthers, the point is clear: The Chinese want to work with their own people, and in the States or the Sudan, or in the Panama Canal, they massively prefer to deal with Chinese hands.

[lentulusgracchus]

There are FReepers here who work in the oil industry calling for the repeal.

There was a year-in, year-out campaign by British Petroleum (who owned Sohio, and then Arco and Amoco, giving them 75% of Alaska North Slope production) CEO John "Light Loafers" Browne to get Congress to remove the export ban.

I should imagine it's toast now, for the reason that Obama's photonegative policies will always do the opposite of what generations of American statesmen have tried to accomplish in our interests.

[lentulusgracchus]

Addendum: Browne wanted to sell Alaska crude for higher prices in Asia than he could get in California, where Alaskan and domestic California production supported a lower price structure. Diverting the Alaskan production to Asia would raise West Coast crude prices and jack up BP's revenues.