Free Republic

It’s not exactly news that Canada ranks among the world's top five energy producers. Currently, it is the third largest gas producer and holds the third-largest proven oil reserves. What is new, however, is that Canada for the first time last year became the top destination for Chinese investments abroad, beating out its southern neighbor, the US, the world’s biggest economy. While Chinese firms spent more than $20 billion in Canada—almost all of it in the energy sector—the US received just more than $10 billion, according to finance data specialist Dealogic. … In contrast to Canada’s traditional stance of openness...

Energy Policy: Buoyed by White House inaction, China's state-owned oil company has made a multibillion-dollar bid for a Canadian company with interests in Canada's oil sands — North American oil for the lamps of China. 'Do we really want to be buying our oil or Canadian oil back from the Chinese?" asked Sen. John Hoeven on Thursday as he reacted to news that China's state-owned oil company, CNOOC Ltd., had launched a $15.1 billion takeover bid for Canada's Nexen Inc., a company with operations in the Gulf of Mexico. Our answer would be no. But it may happen, thanks to...

When President Barack Obama blocked the Keystone Pipeline, Republicans said the move would encourage Canada to pursue oil deals with China instead of the United States and cede a massive chunk of North American oil assets to the communist nation. Now, with China's state-run oil company CNOOC poised to cut a $15.1 billion deal--the largest ever foreign acquisition for a Chinese company--with Canadian oil company Nexen, Sen. Charles Schumer (D-NY) and Rep. Nancy Pelosi (D-CA) are in full backpedal mode.