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Why Is The Obama Administration Allowing The Chinese Government To Buy Up U.S. Oil And Gas Deposits Worth Billions Of Dollars?

 
Anonymous Coward
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05/14/2012 12:20 PM
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Why Is The Obama Administration Allowing The Chinese Government To Buy Up U.S. Oil And Gas Deposits Worth Billions Of Dollars?
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. But 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.

read more:

[link to endoftheamericandream.com]
Anonymous Cowherder
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05/14/2012 12:47 PM

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Re: Why Is The Obama Administration Allowing The Chinese Government To Buy Up U.S. Oil And Gas Deposits Worth Billions Of Dollars?
"I think that when you spread the wealth around it's a good thing."

- Barack Obama, 2008 presidential campaign stop in Ohio.

Edit: as long as he and his cronies control where your wealth is redistributed to while they get to keep their wealth, that is.

Last Edited by Anonymous Cowherder on 05/14/2012 12:51 PM
I'm a Libertarian Constitutionalist.

I don't give a shit what you do with your own life, whether you make it a success or a failure, that is the outcome of the choices you make, but please take responsibility for yourself and don't make ME pay for YOUR choices and we're all good.

Repeal the 17th Amendment and the Apportionment Act of 1911!

Thread: First steps down the road to a return to the Constitutional Republic that we were intended to be.

Restore the Republic.

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cow - Moo!
Anonymous Coward
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Australia
05/14/2012 12:48 PM
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Re: Why Is The Obama Administration Allowing The Chinese Government To Buy Up U.S. Oil And Gas Deposits Worth Billions Of Dollars?
Because they want their money? And then once they've got it all they'll just confiscate them or they will have an "accident".
Anonymous Coward
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05/14/2012 12:52 PM
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Re: Why Is The Obama Administration Allowing The Chinese Government To Buy Up U.S. Oil And Gas Deposits Worth Billions Of Dollars?
Hilary sold most of the property rights in the US to China when she visited there, arount the time the Chinese flag was raised near the White House.

They own us.

That's what we get for borrowing money from them all those years.
humanitech
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05/14/2012 12:53 PM
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Re: Why Is The Obama Administration Allowing The Chinese Government To Buy Up U.S. Oil And Gas Deposits Worth Billions Of Dollars?
It's called economic leverage friend, where a powerful country takes advantage of a poorer country. Ironically America used to do this around the world too..until it went bankrupt through rank internal greed, corruption and denial (of the powers that be).
Anonymous Coward
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05/14/2012 12:55 PM
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Re: Why Is The Obama Administration Allowing The Chinese Government To Buy Up U.S. Oil And Gas Deposits Worth Billions Of Dollars?
because the US is broke
Anonymous Coward
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05/14/2012 12:55 PM
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Re: Why Is The Obama Administration Allowing The Chinese Government To Buy Up U.S. Oil And Gas Deposits Worth Billions Of Dollars?
welcome to New China..
Anonymous Coward
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05/14/2012 12:56 PM
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Re: Why Is The Obama Administration Allowing The Chinese Government To Buy Up U.S. Oil And Gas Deposits Worth Billions Of Dollars?
It's called economic leverage friend, where a powerful country takes advantage of a poorer country. Ironically America used to do this around the world too..until it went bankrupt through rank internal greed, corruption and denial (of the powers that be).
 Quoting: humanitech 16034523


America tries to get back as much cash as it can from China due to China exporting so much shit to the US.
They do it by deflating the USD, inflating other currencies like the AUD where China buys a lot of its resources from.
And from selling the Chinese stakes in things in the US which are probably crappy investments anyway.
Paradox0910

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05/14/2012 01:00 PM
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Re: Why Is The Obama Administration Allowing The Chinese Government To Buy Up U.S. Oil And Gas Deposits Worth Billions Of Dollars?
It makes sense to sit on your own resources and use someone elses first...

It doesn't make sense to bankrupt your populace whilst doing so, only to turn around and sell your resources back to them...

Last Edited by Paradox0910 on 05/14/2012 01:03 PM
The only thing I hate more than you, is myself.
Anonymous Coward
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05/14/2012 01:01 PM
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Re: Why Is The Obama Administration Allowing The Chinese Government To Buy Up U.S. Oil And Gas Deposits Worth Billions Of Dollars?
It doesn't matter. Oil Prices are set globally. It doesn't matter who pulls it out of the ground as long as it hits the market it will lower the price. Us corporations haven't even fully exploited the land they do have. 80% of the oil formations allocated to US corps sit unused because they know if they retrieved it that it would collapse the price of oil. But give it to a Chinese owned company who's purpose is lower price(not profit) and it will get developed and lower prices globally.
Anonymous Coward
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05/14/2012 02:55 PM
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Re: Why Is The Obama Administration Allowing The Chinese Government To Buy Up U.S. Oil And Gas Deposits Worth Billions Of Dollars?
Great find op you should check this thread,
Thread: ALL RUSSIANS AND AMERICANS MUST READ THIS THREAD IT'S LIFE OR DEATH!
our leaders are china's puppets!
Anonymous Coward
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05/14/2012 03:26 PM
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Re: Why Is The Obama Administration Allowing The Chinese Government To Buy Up U.S. Oil And Gas Deposits Worth Billions Of Dollars?
um how could he stop them? free markets and all ya know...
Resister

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United States
05/14/2012 03:34 PM

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Re: Why Is The Obama Administration Allowing The Chinese Government To Buy Up U.S. Oil And Gas Deposits Worth Billions Of Dollars?
Because Obama is a treasonous bastard son of a globe-trotting communist slut who was taught, believed, and has actively sought the destruction of America since his days spent palling around with the Marxist professors his Communist grandparents paid for him to learn from. The only difference between the Obama of his book “Dreams of My Father” and now is that a bunch of brain dead useful idiots actually voted to give him the power to commit his treason from the oval office.
"God forbid we should ever be 20 years without such a rebellion. The people cannot be all, & always, well informed... If they remain quiet under such misconceptions it is a lethargy, the forerunner of death to the public liberty... Let them take arms... What signify a few lives lost in a century or two? The tree of liberty must be refreshed from time to time with the blood of patriots & tyrants. " - Thomas Jefferson in 1787
Anonymous Coward
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05/14/2012 04:36 PM
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Re: Why Is The Obama Administration Allowing The Chinese Government To Buy Up U.S. Oil And Gas Deposits Worth Billions Of Dollars?
Duh. Because he is a criminal and an enemy of our country. What do you think some of us have been trying to tell you fools for years now.

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