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When the Japanese bought all sorts of companies and properties in America, most of them failed and had to be sold back to Americans for bargain prices (think Rockefeller Center and Hollywood). The Chinese will probably have the same problem, their managerial style will not play well over here, the oil glut will kill their investment, etc. Then they will sell it back at a bargain.

Yep, the Chinese will get screwed. US oil is banned from being exported. So it basically will be US workers pumping US oil, for US markets, paying US oil taxes, run by basically the same Texas oil operators who have been doing this for decades, except the land and mineral rights will be owned by a Chinese holding company.

Texas oilmen have been doing this for generations. They'll run rings around the Chinese company during contract negotiations, leaving it high-and-dry and 100% exposed to any loses in a highly volatile market, while the Texas extraction outfits will use creative accounting and other gimmicks to run up their expenses as high as possible. They'll be laughing all the way to the bank.