Analyst's note: Absolutely must read. Under the Obama "progressive" administration, who is now Waging War on Coal & Your Job, we learn that he is quietly moving China into our oil and natural gas resources, along with Chinese employees, across this entire United States. This includes our operations is the Gulf of Mexico. Thanks Congress for your concern about our national debt.... as you keep spending!
The problems with this Obama administration never ceases. See Scathing Congress report slams Obama's 'covert, criminal activity' President Obama is charged with illegally using taxpayer money to manipulate public. Oh tell me it is not true ..... An advance pre-publication copy of the report.
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[....] The decision to allow China to compete for U.S. oil and natural gas resources appears to stem from a need to keep Beijing economically interested in lending to the U.S. The Obama administration has run $1-trillion-plus annual federal budget deficits since taking office that likely will continue in the second term.
[....] Beijing has been developing a proposal in which real estate on American soil owned by China would be set up as “development zones” to establish Chinese-owned businesses and bring in its citizens to the U.S. to work.
[....] China’s first major move into the U.S. oil and natural gas market can be traced to October 2009, when the state-owned Chinese energy giant CNOOC bought a multi-million dollar stake in 600,000 acres of South Texas oil and gas fields.
[....] The Wall Street Journal recently compileda state-by-state list of the $17 billion in oil and natural gas equity interests CNOOC and Sinopec have acquired in the U.S. and Canada since 2010.
Colorado: CNOOC gained a one-third stake in 800,000 acres in northeast Colorado and southwest Wyoming in a $1.27 billion pact with Chesapeake Energy Corporation.
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 interest 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.
Wyoming: CNOOC has a one-third stake in northeast Colorado and southeast Wyoming after a $1.27 billion pact with Chesapeake Energy. Sinopec gained a one-third interest in Devon Energy’s 320,000 acres as part of a larger $2.5 billion deal.
