Everybody knows that Barack Obama wants America to be energy independent; just ask him, and he’ll tell you so. What he won’t tell you is why he is standing by and watching while China is buying American oil and gas in alarming amounts. In an era that demands America use energy as wisely as possible, Obama is stopping us from searching for energy sources on our own soil, which is bad enough, but now Obama is allowing the Chinese to buy up as much of our oil and gas as they want.
Using two front corporations, the China National Offshore Oil Corporation and the State-Owned Assets Supervision as well as the Administration Commission of the State Council, the Chinese Communists have entered into a $570 million deal that gives it a third interest in an oil and gas field in Colorado and Wyoming. What’s worse is that language in the agreement has given the Chinese government the right to a third of ANY NEW oil or gas discovered in areas encompassed by this energy site.
Aside from having their tentacles in Colorado and Wyoming, other states where China has a sizable presence are as follows:
Louisiana – a $2.5 billion deal for 1/3 of a 265,000 acre energy field. China did likewise in buying a one-third share of a Michigan energy field.
The Chinese Communists have acquired a one-third share in energy producing fields in Ohio – Utica Shale field.
Oklahoma has them as well. The Chi-Coms own 1/3 of a 215,000 acre field based on a deal with Devon Energy.
In Texas, China owns 1/3 of the 600,000 acre Eagle Ford Shale energy field, and they own a small piece of the energy producing sections of the Gulf of Mexico.
What’s happening here is very obvious. The Chinese are Barack Obama’s loan shark. He can’t begin to pay them back what he has borrowed from them, so they are willing to take oil deals in partial payment. After all, he can’t give them the deed to the Grand Canyon – can he?
Photo credit: terrellaftermath