B.P. to sell two U.S. Refineries – who will be the buyer?

Will it be the Chinese? The Russians? Surely not the Americans. That would be in our interest. After the recent sale of our Uranimum mines in Wyoming to Russia, anything goes. Of course this news makes barely a ripple. In fact, USA Today picked up the story from the  British press. Let’s go Congress..let’s get a hearing on this. Call me cynical, but I bet the deal has been struck already with Obama giving the high five to…. I will say China this time.

There are two major refineries in the United States going up for sale and people are wondering who will buy them. BP has decided to sell two of the refineries it owns, one in California and the other in Texas. From USA Today:

“The market may be slightly underwhelmed by the lack of a more radical restructuring plan, but with Macondo still an ongoing issue it may be too early for BP to implement more radical plans,” said Richard Griffith, analyst at Evolution Securities.

BP did not say how much it expected to gain from the sale of its U.S. refineries, which include the Texas City refinery where 15 workers died in an explosion in 2005.

It said it had spent more than $1 billion modernizing the Texas City plant, but noted it “lacks strong integration into any BP marketing assets.” However, BP said it will keep the chemicals complex at Texas City.

The company said it also hopes to sell the Carson refinery near Los Angeles along with its marketing business in southern California, Arizona and Nevada. The company plans to concentrate its U.S. refining and marketing activity at Whiting, Ind., and Cherry Point, Wash., as well as in its 50% stake in the Toledo, Ohio facility…

H/T:Blue Collar Philosophy

Recall: Russians to Control Uranium Mines in Wyoming

Russians to control Uranium mines in Wyoming:

Two uranium mines in Wyoming are on their way to control by a Russian company now that the Nuclear Regulatory Commission has approved transferring the mines’ licenses.

The NRC last week approved the license transfer to a Russian company known as ARMZ which expects to obtain a controlling interest in Canadian-owned Uranium One by year’s end. Uranium One holds the licenses for a proposed uranium mine and an existing uranium mine in northeast Wyoming.

The transfer raised concern from Wyoming’s congressional delegation, who said the uranium could in theory go overseas and serve against U.S. interests.

Then we have China leases U.S. Radio Station: Here

It is the first U.S. station to broadcast CRI programing 24 hours a day, although the network has purchased blocks of time on U.S. stations at least since 1993.

I think I will stop here!