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Tuesday, October 12, 2010

China Buying Into Driller Chesapeake Energy In US

China stakes claim to S. Texas oil, gas

By Monica Hatcher - Houston Chronicle

HOUSTON — 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.

It also might pick up some American know-how about tapping the hard-to-get deposits trapped in dense shale rock formations, analysts said. More...

20 comments :

Anonymous said...

THIS SHOULD NOT BE ALLOWED TO HAPPEN.

Anonymous said...

THIS SHOULD NOT BE ALLOWED TO HAPPEN. What is wrong with our Government

Anonymous said...

Just more proof that we DO NOT own our own property. The USA is OWNED by China.

Anonymous said...

Our government pushed this Fracking process on the American people as a national security issue. Told us we had to do it.

That lie of Cheney's is unraveling now. We've been fooled and used.

Anonymous said...

What is really upsetting is that there are only 3 posts concerning this issue. That is a big part of the problem. NOBODY CARES

Anonymous said...

You not happy with the way the American companies are drilling for gas and oil? Just wait and see how the Chinese do it. You will be praying for the American companies to return.

Anonymous said...

Is China coming to Potter County?

Anonymous said...

This amounts to treason for whoever sold this acreage.

Anonymous said...

OH JUST GREAT! First we have people here from Afghanastan learning how to pilot airplanes (funded by the Talaban) and now they are going to let China in on the gas drilling business. What next? Oh, I know, the Iranians will soon be buying into our nuclear power plants and Iraqis working at Subway in the Pentagon....Nobody cares as long as the cash keeps flowing and the rich get richer.

Anonymous said...

"That lie of Cheney's is unraveling now. We've been fooled and used."

I get so sick of blame Bush-Cheney. The anointed one has been in around 2 years now. PLENTY of time for him to "fix" everything.

Obama Girl said...

Don't worry people! The man that got awarded the Nobel Peace Prize will take care of all of our worrys!!!

We need change!!!

Anonymous said...

Obviously half of you did not even read the full article and are not educated on the issue. You all hear China and automatically think this is bad.

"This is a pretty simple business transaction,” McClendon said. “The initial feedback we’re getting is that this is something the government should be very happy to see, which is the return of American capital into our country so that we can use it to create high-paying American jobs and also reduce oil imports a few years down the road.”

Yes, I would rather it be an American company investing in this too but it just goes to to prove that globalization is upon us, and it's not all bad.

Anonymous said...

One government.

One monetary system.

One global police (UN).

December 21, 2012.

Anonymous said...

One brain cell.

One sperm.

One egg.

Your birthday.

Anonymous said...

Oh? 5:36? And what makes YOU such an expert? You sure don't sound like you know what you are talking about either. It's all about money. Never mind that we are about to let yet another country into our affairs. And 3:24 , you really think that 2 years is enough time to straighten out the mess that was started way back before them? Your thinking cap isn't on to straight either.

Anonymous said...

"CODA"

Anonymous said...

Isolation.

Anxiety.

Stone Age superstition.

Cynicism.

Anonymous said...

B.S. keep our resources here.

Anonymous said...

5:36... You mean to say that China is going to pay us? I think we still owe China a few bucks from the Stimulus packages in the Bush administration so we are going to have to pay China to do business with us.

The question is...
Why the hell isn't China drilling on her own soil?!!! Yay for consumerism but jeez!! Or is North Korea holding a drilling ban in China to control the oil for "future endeavours" when Iran and N. Korea try to set the world on its ear with WW3?

Bah. What do I know. I'm just an idiot.. Go ahead readers say it.

Beano said...

I think I'll get a crew together and take a couple hundred drilling rigs to China and start punching holes in their land.