China buying up U.S. energy reserves


First we heard last week that China was moving into our banking system with the Fed approving their first move. But that is not all, they are slowly buying up our oil and gas reserves. First, in case you missed the bank story, a refresher, then on to a story that should have all Americans up in arms. This is nothing less than treason. It is being touted that we have more energy than we know what to do with. So what do we do? We give it to China. Here we go: Feds clears China’s first U.S. bank takeover :

 The United States opened its banking market to China’s biggest bank ICBC, for the first time clearing a takeover of a US bank by a Chinese state-controlled company.

Just days after high-level US-China economic talks in Beijing, the Federal Reserve approved an application from Industrial and Commercial Bank of China to buy a majority stake in the US subsidiary of Bank of East Asia.

The transaction will make ICBC the first Chinese state-controlled bank to acquire retail bank branches in the United States.

End of the American Dream  brings us this good news, go to their full story if you want to be mad as hell.:

The Texas deal was particularly noteworthy.  The following is how a San Antonio news source described that deal….

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 equival

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. 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

CNOOC recently completed a 570 million dollar deal that gives it a one-third interest in huge oil and gas deposits in Colorado and Wyoming.  The following is from Wyoming Energy News….

Chinese energy company Cnooc Ltd. has agreed to pay $570 million for a one-third interest in Chesapeake Energy Corp.’s 800,000 leased acres in northeast Colorado and southeast Wyoming. The acreage is in the Denver-Julesburg (DJ) and Powder River basins. Cnooc is China’s biggest offshore oil and natural gas producer.

In fact, according to a recent Business Insider article, this deal gives the Chinese government the right to a third of any new oil discovered by Chesapeake Energy in the entire region….

The Niobrara Shale formation stretches over Colorado and Wyoming, as well as Kansas and Nebraska. Chesapeake Energy’s position is in Wyoming and Colorado. If Chesapeake find any more oil in this region, CNOOC has the rights to 33.3% of what is found.

But this is not the only area of the country where China now owns energy rights.  The following is an excerpt from a recent state-by-state breakdown that appeared in the Wall Street Journal….

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 stake 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.

12 Responses to “China buying up U.S. energy reserves”

  1. Putin stockpiling Gold – anyone wonder why? « BUNKERVILLE | God, Guns and Guts Comrades! Says:

    […] Meanwhile we sit on our hands and let China move even into our country without a concern.  While China buying up U.S. energy reserves. While Obama touts solar, it is the metals that will ensure a safe future. So here we […]

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  2. China’s Canada 15.1 billion oil deal dissed by Dems « BUNKERVILLE | God, Guns and Guts Comrades! Says:

    […] thing is they have no concern about China buying up the U,S. oil supply. Here from an earlier post: China buying up U.S. Energy Supplies CNOOC recently completed a 570 million dollar deal that gives it a one-third interest in huge oil […]

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  3. Steve Dennis Says:

    First we learn the US is handing banks over to China and now this! We just learned that despite Obama’s claim that the US only has 2% of the earth’s oil reserves that we are sitting on the largest oil reserves in the world, and now we are handing it over to China. Is there any doubt left what Obama’s goal is? He wants to drive up the cost of energy just has he promised and that is one thing he has been successful at as president.

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    • bunkerville Says:

      This whole things makes me sick. Why isnt the GOP and Romney hammeriing away on this?

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      • republican mother Says:

        Because they’re totally down with it! They’re part of the Fed Cartel. Same reason the republicans didn’t go after Clinton for selling the Chinese missile tech through Loral. They were in it too!

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  4. Conservatives on Fire Says:

    Gemerally I am in favor of foreign investment in our country. But, I believe we should only be open to foreign investments with countries that have reciprosity with us. That does not occur with China. Also, on the subject of energy resources, I think until the day comes where the US is energy independent, we should treat energy as having strategic national interest and we should be very careful about allowing foreign investments in our energy resouces. China, for example, would never allow American interests to invest in their energy resouces or much less in their reare earth resources.

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    • bunkerville Says:

      You can be sure that they will take back to china much more than they invested. And indeed, this is our Natural Resources. China is buying up resources all over the world until they have a monopoly.

      Like

  5. republican mother Says:

    This is what GATT was all about, doing away with the old system so that these one-world order tyrants, with zero loyalty to the US or any country could lock down every industry with regulation. It’s the Frederic C. Howe plan expanded to the ultimate level.

    I guess what goes around comes around. I’m reading this awesome biography on Herbert Hoover by Walter Liggett. (Who by the way was such an effective reporter that he was murdered in front of his family for his work) Hoover was a mining engineer who totally rigged the takeover of the Kaiping Mines in China from Chinese Royalty and delivered it into the hands of his employer, Bewick, Moreing & Co, a Rothschild company. There was illegalities involved and he got in hot water for it. You’ll not find that in the Wiki article, as its scrubbed from the history books.

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  6. silverfiddle Says:

    Obama and the Democrats’s banking laws have had the effect of shutting down small banks that can’t keep up with all the compliance and can’t comply with the cash reserve requirements.

    Our energy market is huge, foreigners will invest, that is the way it works. In fact, to look at it positively, this is China repatriating the dollars we send over there buying all their cheap crap.

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    • bunkerville Says:

      I see your point SF regarding foreign investment, but after the investments, the profits return to their country so I dont know how we get ahead. Why not American companies making the profits and keeping them here. The day of the Community bank is over, and that was the intention.

      Like


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