China’s Canada 15.1 billion oil deal dissed by Dems

The reaction of Pelosi and Schumer is a stunner, but why should I be surprised? These two now think that Canada should not cut their energy deal with China, after these fine folks block the Keystone pipeline. Is there anyone upstairs? What did they think was going to happen? Canada has been saying right along the oil was going our way or it was going West. Now we are going to pay China for Canadian oil. Great. The amazing 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 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….

Now they are worried about Canada???

In a statement, Pelosi spokesperson Drew Hamill said:

This deal prompts great concern about the Chinese government’s continued attempts to use its state-owned enterprises to acquire global energy resources.

When President Barack Obama blocked the Keystone Pipeline, Republicans said the move would encourage Canada to pursue oil deals with China instead of the United States and cede a massive chunk of North American oil assets to the communist nation.

Now, with China’s state-run oil company CNOOC poised to cut a $15.1 billion deal–the largest ever foreign acquisition for a Chinese company–with Canadian oil company Nexen, Sen. Charles Schumer (D-NY) and Rep. Nancy Pelosi (D-CA) are in full backpedal mode.

In a draft letter to the Committee on Foreign Investment in the United States (CFIUS), Sen. Schumer writes:

I respectfully urge you, in your capacity as chairman of the Committee on Foreign Investment in the United States (CFIUS), to withhold approval of this transaction to ensure U.S. companies reciprocal treatment

H/T: Breitbart