Not Logged In Log In   Sign Up   Points Leaders
Follow Us    2:29 AM

GasBuddy News Article

53
votes
China-Canada oil deal raises political hackles in Washington

Reuters Canada -- WASHINGTON (Reuters) - The U.S. government should block a bid by China's state oil company CNOOC for Canadian oil company Nexen until China's government provides fair access for U.S. companies that want to invest in China, a top Democratic senator plans to tell Treasury Secretary Timothy Geithner on Friday.

In a draft letter obtained by Reuters, Charles Schumer, the Senate's No. 3 Democrat and a frequent critic of China's trade and currency policy, said the powerful Committee on Foreign Investment in the United States should not approve the deal until China makes "tangible, enforceable commitments" on market access for U.S. companies.


Read the Full Article

Submitted Jul 27, 2012 By: CdnLynx
Category: Daily News Article Discussions > Topics Add to favorite topics  
Author Topic: China-Canada oil deal raises political hackles in Washington Back to Topics
REPLIES (newest first) Post a Reply
Profile Pic
honda0105
Champion Author Tallahassee

Posts:23,209
Points:2,267,665
Joined:Nov 2008
Message Posted: Aug 1, 2012 5:53:55 AM

iag: well, not quite. Nexen does own some property to drill that is on US soil.
Profile Pic
iagdboy
Champion Author Albany

Posts:2,054
Points:1,040,345
Joined:Jun 2011
Message Posted: Jul 31, 2012 9:54:09 PM

none of our business
Profile Pic
StationGF
Sophomore Author Chicago

Posts:121
Points:35,470
Joined:Jun 2012
Message Posted: Jul 31, 2012 9:42:58 PM

US Congress, the legislative branch of the US gov't and Canada,....
Profile Pic
rumbleseat
Champion Author Winnipeg

Posts:25,478
Points:3,838,530
Joined:Oct 2002
Message Posted: Jul 31, 2012 5:01:15 AM

I repeat, the US doesn't have any say in this. For one thing, the US has never had a problem allowing American investments to take over assets in pretty much any country in the world. This is not an American investment, it is a Chinese investment, and I quite imaging the American government and the American citizenry would be outraged (justifiably so) if the Chinese government talked of blocking American investment in Canada, or Brazil, or any other country in the world.
Charles Schumer needs to be handed a map, an atlas, an encyclopaedia, and a globe, and told to study some geography, because he obviously has no idea where the borders of his own country are!

However, I do not believe this deal is in the best interests of Canada and Canadians. CNOOC is a state-owned entity, and China is a Communist country. I hope the Canadian government will see it isn't in our best interest to allow what amounts to nationalization of part of our oil industry by a Communist power.

[Edited by: rumbleseat at 7/31/2012 6:05:24 AM EST]
Profile Pic
honda0105
Champion Author Tallahassee

Posts:23,209
Points:2,267,665
Joined:Nov 2008
Message Posted: Jul 31, 2012 4:46:03 AM

ah yea... Canada says to not jump to conclusions. Hmmmm.
Profile Pic
honda0105
Champion Author Tallahassee

Posts:23,209
Points:2,267,665
Joined:Nov 2008
Message Posted: Jul 30, 2012 4:47:20 AM

wait, Nexen is a Canadian company, how can the US block the deal to start with? As for China, it's buying anything it can. The US taught its unintended protege well.
Profile Pic
goldrose1
Champion Author Cleveland

Posts:13,719
Points:2,555,615
Joined:Feb 2005
Message Posted: Jul 29, 2012 12:02:09 AM

So much hot air.
Profile Pic
mountainrider7
Sophomore Author New York

Posts:208
Points:149,165
Joined:Mar 2012
Message Posted: Jul 28, 2012 7:31:27 AM

Blah...
Profile Pic
SparkieMi
Champion Author Kalamazoo

Posts:5,888
Points:1,228,955
Joined:Sep 2011
Message Posted: Jul 28, 2012 1:58:53 AM

Many good posts!!!!
Profile Pic
CdnLynx
Champion Author Ontario

Posts:1,239
Points:1,079,655
Joined:May 2008
Message Posted: Jul 28, 2012 12:10:15 AM

for LostToo and any others that missed my original inadvertent miss-Que.
There are provisions

The U.S. government should block a bid by China's state oil company CNOOC for Canadian oil company Nexen until China's government provides fair access for U.S. companies that want to invest in China, a top Democratic senator plans to tell Treasury Secretary Timothy Geithner on Friday. In a draft letter obtained by Reuters, Charles Schumer, the Senate's No. 3 Democrat and a frequent critic of China's trade and currency policy, said the powerful Committee on Foreign Investment in the United States should not approve the deal until China makes "tangible, enforceable commitments" on market access for U.S. companies.
Profile Pic
LostToo
Champion Author Illinois

Posts:4,392
Points:975,315
Joined:May 2009
Message Posted: Jul 27, 2012 11:54:00 PM

I must have read this wrong... What the hell does the USA have any say over a oil deal between China and Canada? We had our chance and Oboma screwed us out of that pipeline. Now that those democrats dropped the ball they want another chance. I don't think it works that way. The Canada boss warned us. I guess The Oboma crowd thought he was kidding. NOPE! NO Mulligans in big oil.
Profile Pic
kgbellman
Champion Author Ann Arbor

Posts:5,459
Points:1,387,975
Joined:Mar 2011
Message Posted: Jul 27, 2012 11:34:33 PM

Of course they will deal with whomever has oil.
Profile Pic
CdnLynx
Champion Author Ontario

Posts:1,239
Points:1,079,655
Joined:May 2008
Message Posted: Jul 27, 2012 11:30:11 PM

For the people complaining of old news or that they saw the same story.
Your picked up the same story, it was always here.
Do you pick up old news papers and re-read the same article then blame others.
Hint, wait till there is a new story, or a new day with a newer newspaper edition!
Unbelievable, don't read old stories then complain they're old.
Your the one in control!
Profile Pic
camaro_man
Champion Author Kitchener-Waterloo

Posts:5,014
Points:1,266,535
Joined:Jun 2010
Message Posted: Jul 27, 2012 11:26:16 PM

ow
Profile Pic
Zonk
Champion Author Michigan

Posts:9,221
Points:2,751,725
Joined:Oct 2005
Message Posted: Jul 27, 2012 11:25:15 PM

If obama would approve the pipeline, this will not become an issue.
Profile Pic
tedjm1
Champion Author New York

Posts:5,609
Points:801,050
Joined:Dec 2006
Message Posted: Jul 27, 2012 11:24:13 PM

The US is falling far behind the rest of the world.
Profile Pic
captain013
Champion Author Maryland

Posts:5,021
Points:1,114,385
Joined:Sep 2011
Message Posted: Jul 27, 2012 11:23:47 PM

Dont think US is in any position to demand anything from China since they own much of our obligations and have capital to spend.
Profile Pic
Toppers
Champion Author Atlanta

Posts:11,716
Points:3,124,175
Joined:Mar 2005
Message Posted: Jul 27, 2012 11:23:43 PM

We asked for it...
Profile Pic
BoerneWatch
Champion Author San Antonio

Posts:18,458
Points:3,111,740
Joined:Oct 2005
Message Posted: Jul 27, 2012 11:22:56 PM

The Dems shut down the pipeline deal and now they are mad that Canada is working with China?

Profile Pic
CdnLynx
Champion Author Ontario

Posts:1,239
Points:1,079,655
Joined:May 2008
Message Posted: Jul 27, 2012 11:22:37 PM

I swear, at times it feels like I'm dealing with village idiots; squabbling over toys in a sad box; same old rhetoric is posted over and over, blaming the president, or the pipeline etc. No one is focusing on the real problem, that exists everywhere on the planet. Large corporations, many multinational and in some case state sponsored/assisted in the purchasing of other companies.
At one time this was the realm of American corporations buying up smaller companies around the world. They were a world wide example of how the economies of the rich worked. In short they were learning capitalism, (capitalism is not meant as a bad world) but a reality. Others corporations/countries have garnered great wealth over the last while and now they have the power and the will, to wield power in the vary same way. This little mouse has the control over its natural resources and not any other foreign or otherwise controlled company. The same exists for all sovereign states, they control their resources and not any company/corp.
Profile Pic
ican2step
Champion Author Pittsburgh

Posts:4,338
Points:1,071,115
Joined:Feb 2012
Message Posted: Jul 27, 2012 11:19:41 PM

The Chinese government has scared me for years.
Profile Pic
rahcat
Champion Author Grand Rapids

Posts:5,485
Points:1,320,750
Joined:Jan 2010
Message Posted: Jul 27, 2012 11:19:19 PM

China just can't wait to cut our throats.
Profile Pic
crreed1
Champion Author West Virginia

Posts:4,548
Points:3,103,695
Joined:May 2005
Message Posted: Jul 27, 2012 11:17:21 PM

old news
Profile Pic
LanguageMan1
Champion Author Tampa

Posts:16,166
Points:2,319,590
Joined:Apr 2008
Message Posted: Jul 27, 2012 11:16:51 PM

I'm just about in favor of it, but it's Canada and China, not the US and China that made this deal, and if anything, maybe we should have made a good bid for the oil and oil company.
Profile Pic
big_mac64
Champion Author Tennessee

Posts:11,252
Points:1,687,045
Joined:May 2005
Message Posted: Jul 27, 2012 11:14:14 PM

already saw this story
Profile Pic
jethro5000
Champion Author Kentucky

Posts:4,655
Points:1,045,440
Joined:Jun 2005
Message Posted: Jul 27, 2012 11:12:33 PM

???
Profile Pic
Bigwaynef
Champion Author South Carolina

Posts:14,983
Points:2,737,995
Joined:Dec 2006
Message Posted: Jul 27, 2012 11:10:57 PM

If it's any country OTHER than the US, Obamama is for it!
Profile Pic
d_clark
Champion Author Grand Rapids

Posts:2,245
Points:927,385
Joined:Mar 2005
Message Posted: Jul 27, 2012 11:09:23 PM

Not sure why the US would approve any deal with China and Canada
Profile Pic
FlyNFool
Champion Author South Carolina

Posts:10,924
Points:2,339,995
Joined:Aug 2008
Message Posted: Jul 27, 2012 11:09:07 PM

oh no
Profile Pic
humblepie
Champion Author Toledo

Posts:58,860
Points:3,030,370
Joined:Mar 2006
Message Posted: Jul 27, 2012 11:08:10 PM

none of america's business, we had our shot and obama blew it
Profile Pic
ManOfLeisureII
Champion Author Philadelphia

Posts:4,605
Points:1,110,290
Joined:Jan 2012
Message Posted: Jul 27, 2012 11:07:19 PM

Build Keystone
Profile Pic
Blue_Cruzer
Champion Author Lexington

Posts:8,894
Points:1,942,465
Joined:Mar 2007
Message Posted: Jul 27, 2012 11:06:55 PM

Money talks!
Profile Pic
ggg452
Champion Author Manitoba

Posts:4,362
Points:989,120
Joined:May 2012
Message Posted: Jul 27, 2012 11:06:10 PM

Just the normal course of world business and politics....no sense looking for a villan in it.
Profile Pic
CdnLynx
Champion Author Ontario

Posts:1,239
Points:1,079,655
Joined:May 2008
Message Posted: Jul 27, 2012 11:05:09 PM

At this article only goes back 4 pages, reiteration of previous comments.

This is about China, wanting to maximize profit, they want more money; in that way, this communist country wants to play capitalist. They are raking in the money from contracts around the world; they manufacture their products, that show up en mass around the world.
Canada as a small nation, wants to have control over it's manufacturing, natural resources, whether it be mining, oil, forestry and manufacturing. It becomes worrisome when major players in other foreign lands take notice of your country and starts to purchase companies to the point where all Canadian identity is absorbed by foreign interests.
This has been happening for a very long time; steel, potash, mining (Inco); long before America took any interest; long before the Keystone XL pipeline. This was going on long before Obama. So, Obama, or the pipeline is and was never the problem. This is about other countries seeing the opportunity to make profit at the expense of Canada and the Canadian identity.
Aviator Rob, your position is astounding; it has noting to do with Canada not being fair with America.
For the longest time America was the only elephant in bed with the Canadian mouse. Now there is a whole herd of elephants, that want in bed with Canada, and that bed is very small. The little maple mouse, is not faring that well, with that many elephants trumpeting & stampeding in that small bed.
America controls it resources no matter what corporation owns it, foreign or otherwise; same with Canada, our resources are Canadian, whether its mined, or tapped by any company (Canadian or not).
So if Nexen is owned by a Chinese company, its a win for them; no matter where we ship Canadian oil, as they will profit, if we use our oil domestically or ship it anywhere in the world.

I would like to add this is not a unique problem. This is a worldwide problem, not only a Canadian problem.
Large corporations with deep pockets; some cases possibly funded by their country of origin, purchase smaller companies. This makes for powerful worldwide conglomerates that is some cases are far more powerful, influential then the populace of the countries they maybe operating in.
This is happening on all continents and with countries far smaller then Canada; the African continent comes to mind; with mining and oil (diamonds, gold, oil). This is also happening in large countries, they sometimes lose their national corporations with outside interests purchasing controlling stake etc.
This is business and yes it is capitalism and sometimes we get burnt and it hurts like he$$.
As a Canadian, I don't want to lose any Canadian identity; no different then an American wanting to lose any of their identity. So America don't take this personally as Canada sticking it to America. This has been and is business and its been happening for a very long time.

Focus! Focus on the proper things.
Not your President or your political parties or the keystone pipeline. This has been going on long before the pipeline.
Obama or the pipeline are not the problem!
This is about large corporations with deep pockets buying up the neighborhood to make more profit and to control the playground. Some of these corporations are richer then some countries they operate in. Africa in point.

No matter who owns Nexen oil, the resources remain with Canada and it is Canada decision of where the oil is processed, shipped. the resources belong to the country. No different then America, or any other country.
Your getting to bent out of shape and not focusing. Your running around blaming your president etc.
This has been going on for quite some time and not just in Canada, earlier this year China purchased AMC movie corporation. China has an abundance of ready capital, burning holes in their pockets and they are buying.
Profile Pic
carman11
Champion Author North Carolina

Posts:6,213
Points:1,351,650
Joined:Jun 2011
Message Posted: Jul 27, 2012 11:05:04 PM

Ok
Profile Pic
keithyoon1977
Champion Author Virginia

Posts:4,203
Points:1,133,145
Joined:Dec 2011
Message Posted: Jul 27, 2012 11:03:41 PM

ok
Profile Pic
TonyPSU
Champion Author Cleveland

Posts:5,112
Points:1,316,915
Joined:May 2011
Message Posted: Jul 27, 2012 11:02:05 PM

BO screwed up again
Profile Pic
umitb
Champion Author Indianapolis

Posts:6,009
Points:1,378,375
Joined:Apr 2010
Message Posted: Jul 27, 2012 11:01:46 PM

ok
Profile Pic
1fulltank
Champion Author Buffalo

Posts:10,454
Points:2,164,945
Joined:Nov 2008
Message Posted: Jul 27, 2012 10:59:24 PM

Do something besides whine.
Profile Pic
CdnLynx
Champion Author Ontario

Posts:1,239
Points:1,079,655
Joined:May 2008
Message Posted: Jul 27, 2012 10:57:46 PM

No matter who owns Nexen oil, the resources remain with Canada and it is Canada decision of where the oil is processed, shipped. the resources belong to the country. No different then America, or any other country.
Your getting to bent out of shape and not focusing. Your running around blaming your president etc.
This has been going on for quite some time and not just in Canada, earlier this year China purchased AMC movie corporation. China has an abundance of ready capital, burning holes in their pockets and they are buying.
Chinese company buys U.S. movie theater chain AMC for $2.6bn in largest ever takeover deal
Profile Pic
jayrad1957
Champion Author Los Angeles

Posts:25,036
Points:2,255,290
Joined:Nov 2008
Message Posted: Jul 27, 2012 10:57:18 PM

Another excuse to bash Obama.
Profile Pic
Glock26
Champion Author Dayton

Posts:4,182
Points:1,265,500
Joined:Mar 2011
Message Posted: Jul 27, 2012 10:54:27 PM

Should have supported the Keystone pipeline.
Profile Pic
WIWalt
Champion Author Wisconsin

Posts:4,392
Points:1,066,490
Joined:Mar 2012
Message Posted: Jul 27, 2012 10:52:41 PM

ok
Profile Pic
Mustache_33
All-Star Author Toronto

Posts:900
Points:181,455
Joined:May 2012
Message Posted: Jul 27, 2012 10:48:48 PM

hmm
Profile Pic
mstearno
Champion Author Dayton

Posts:9,561
Points:2,273,325
Joined:Jan 2008
Message Posted: Jul 27, 2012 10:48:29 PM

CdnLynx
is partially correct
where he's missed the boat is if we had agreed on the pipeline initially China would not have bought them...
SO yes THANK YOU NOBAMA
Profile Pic
CAroadrunner101
Champion Author California

Posts:4,473
Points:1,938,325
Joined:Mar 2009
Message Posted: Jul 27, 2012 10:47:38 PM

so...
Profile Pic
FunMyster
All-Star Author Indiana

Posts:912
Points:74,315
Joined:Jul 2011
Message Posted: Jul 27, 2012 10:46:18 PM

ok
Profile Pic
CdnLynx
Champion Author Ontario

Posts:1,239
Points:1,079,655
Joined:May 2008
Message Posted: Jul 27, 2012 10:44:18 PM

No matter who owns Nexen oil, the resources remain with Canada and it is Canada decision of where the oil is processed, shipped. the resources belong to the country. No different then America, or any other country.
Your getting to bent out of shape and not focusing. Your running around blaming your president etc.
This has been going on for a while, for instance

The following was posted by the Daily Mail on 21 May 2012

[L=http://www.dailymail.co.uk/news/article-2147569/Movie-theater-AMC-bought-Chinese-company-Dalian-Wanda-Group-2-6bn.htmlhttp://]Chinese company buys U.S. movie theater chain AMC for $2.6bn in largest ever takeover deal AMC is America's second biggest theater chain Dalian Wanda Group, who are based in Beijing, said headquarters will remain in Kansas City and 18,500 employees will keep their jobs Chinese investment set to create more 3-D and IMAX cinemas in U.S. Read more: http://www.dailymail.co.uk/news/article-2147569/text deleted/L]
Profile Pic
paulydel
Champion Author Delaware

Posts:11,458
Points:1,305,840
Joined:Jan 2008
Message Posted: Jul 27, 2012 10:41:00 PM

Thank you idiot and chief for not supporting the Keystone pipeline.
Profile Pic
knot2swift
Champion Author Calgary

Posts:5,983
Points:1,050,460
Joined:Nov 2009
Message Posted: Jul 27, 2012 10:39:47 PM

Actually Beachmanglen...We in Canada were thinking of taking over California while the US was busy with Iraq.

Nothing like taking over a loser state that has real nice warm winters for our old folks.

[Edited by: knot2swift at 7/27/2012 11:43:24 PM EST]
Post a reply Back to Topics