Something Is Not Right With This… Why Is The Chinese Government Buying Up U.S. Oil And Gas Deposits Worth Billions Of Dollars?

May 14th, 2012

FAKE NEWS for the Zionist agenda

If we are trying to become independent of foreign
oil, then why is the Obama administration allowing the Chinese
government to buy up U.S. oil and gas deposits worth billions of
dollars? This makes absolutely no sense whatsoever.

The United States
desperately needs to maintain control over its own domestic energy
resources so that we can end our addiction to foreign oil. As I have
written about previously, the United States actually has plenty of oil.

If we would simply use the resources that we already have, we would
never have to import a single drop of foreign oil. But instead, we
continue to be the largest importer of oil on the planet and we are
allowing China to rapidly buy up oil and gas deposits inside the United
States.

This is fundamentally wrong and it is a serious threat to our
national security. Apparently everything is for sale in the United
States today, and that includes our precious energy resources.

The Chinese government is using two giant corporations to buy up these energy resources.

The first is the China National Offshore Oil Corporation (CNOOC). According to Wikipedia, this corporation is 100 percent owned by the Chinese government….

CNOOC Group is a state-owned oil company,
fully owned by the Government of the People’s Republic of China, and the
State-Owned Assets Supervision and Administration Commission of the
State Council (SASAC) performs the rights and obligations of shareholder
on behalf of the government.

The second is Sinopec Corporation. Sinopec Group is
the largest shareholder (about 75% of the shares) in Sinopec
Corporation. And as the Sinopec website tells us, Sinopec Group is owned by the Chinese government….

Sinopec Group, the largest shareholder of
Sinopec Corp., is a super-large petroleum and petrochemical group
incorporated by the State in 1998 based on the former China
Petrochemical Corporation. Funded by the State, it is a State authorized
investment arm and State-owned controlling company.

So wherever you see CNOOC or Sinopec you can
replace those names with the Chinese government. The Chinese government
essentially runs both of those companies.

And both companies have been very busy buying up U.S. oil and gas deposits.

For example, CNOOC recently completed a 570 million
dollar deal that gives it a one-third interest in huge oil and gas
deposits in Colorado and Wyoming. The following is from Wyoming Energy News….

Chinese energy company Cnooc Ltd. has agreed
to pay $570 million for a one-third interest in Chesapeake Energy
Corp.’s 800,000 leased acres in northeast Colorado and southeast
Wyoming. The acreage is in the Denver-Julesburg (DJ) and Powder River
basins. Cnooc is China’s biggest offshore oil and natural gas producer.

In fact, according to a recent Business Insider article,
this deal gives the Chinese government the right to a third of any new
oil discovered by Chesapeake Energy in the entire region….

The Niobrara Shale formation stretches over Colorado and Wyoming,
as well as Kansas and Nebraska. Chesapeake Energy’s position is in
Wyoming and Colorado. If Chesapeake find any more oil in this region,
CNOOC has the rights to 33.3% of what is found.

This is not the only area of the country where
China now owns energy rights. The following is an excerpt from a recent
state-by-state breakdown that appeared in the Wall Street Journal….

Louisiana: Sinopec has a
one-third interest in 265,000 acres in the Tuscaloosa Marine Shale after
a broader $2.5-billion deal with Devon Energy.

Michigan: Sinopec gained a one-third interest in 350,000 acres in a larger $2.5 billion deal with Devon Energy.

Ohio: Sinopec acquired a one-third stake in Devon Energy’s 235,000 Utica Shale acres in a larger $2.5 billion deal.

Oklahoma: Sinopec has a one-third interest in 215,000 acres in a broader $2.5 billion deal with Devon Energy.

Texas: Cnooc acquired a one-third interest in Chesapeake Energy’s 600,000 acres in the Eagle Ford Shale in a $2.16-billion deal.

The Texas deal was particularly noteworthy. The following is how a San Antonio news source described that deal….

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.

So why is the Obama administration allowing this to happen?

Are they so desperate to have China continue
lending money to the United States that they would allow the Chinese
government to pillage our precious energy resources?

Somebody needs to be asking our politicians that question.

Oil and gas are not the only U.S. assets that the Chinese have been buying up.

In a previous article, I detailed how the Chinese have been purchasing huge chunks of real estate all over the country as well.

For example, a recent Forbes article detailed some of the real estate deals that China has been doing in New York….

According to a recent report in the New York
Times, investors from China are “snapping up luxury apartments” and are
planning to spend hundreds of millions of dollars on commercial and
residential projects like Atlantic Yards in Brooklyn. Chinese companies
also have signed major leases at the Empire State Building and at 1
World Trade Center, the report said.

In addition, it was recently announced that the Federal Reserve will now allow Chinese banks to buy up American banks.

Where will all of this end?

Should all of us start learning to speak Chinese?

Meanwhile, our trade deficit with China continues to get even larger. Our trade deficit with China last year was $295.5 billion,
which was the largest trade deficit that one country has had with
another country in the history of the world. This year, we are already
on a pace to break that record.

So thousands of businesses, millions of jobs and
hundreds of billions of dollars will continue to leave the United States
and go to China.

China will continue to use some of the money they are getting from us to buy up pieces of America.

Does anyone else out there see something very, very wrong with all of this?

Michael Snyder – May 13, 2012 – TheAmericanDream

digg muti del.icio.us google reddit facebook