NEW YORK – The Obama administration is quietly allowing China to acquire major ownership interests in oil and natural gas resources across the U.S.
The decision to allow China to compete for U.S. oil and natural gas resources appears to stem from a need to keep Beijing economically interested in lending to the U.S. The Obama administration has run $1-trillion-plus annual federal budget deficits since taking office that likely will continue in the second term.
Allowing China to have equity interests in U.S. energy production is a reversal of the Bush administration’s policy. In 2005, the Bush administration blocked China on grounds of national security from an $18.4 billion deal to purchase California-based Unocal Corp.
As WND reported Monday, Beijing has been developing a proposal in which real estate on American soil owned by China would be set up as “development zones” to establish Chinese-owned businesses and bring in its citizens to the U.S. to work.
China leased first oil rights in Texas
China’s first major move into the U.S. oil and natural gas market can be traced to October 2009, when the state-owned Chinese energy giant CNOOC bought a multi-million dollar stake in 600,000 acres of South Texas oil and gas fields.
Read More at WND . By Jerome R. Corsi.
Photo Credit: johntrathome (Creative Commons)
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I said before that we are losing America piece by piece and was told I was over reacting.
patti’s notes: face it folks, china will own us,unless we start immediately stand our ground and rally on all court houses ,all over america, and take lots of bus loads to DC. pl,orl,fla
It is going to take action on our part other than sharing our comments online in order to make a difference. We need to begin now and not wait until a few months before the next set of elections. Are any of you writing to your representatives to express your dismay? If so, are you receiving any sort of constructive or encouraging responses? I have written to our Senator on several occasions regarding gun control and health care and received politically correct non-answers. Not impressive by any means. I am happy to report that the State of Arkansas has a provision in its state constitution that requires a balanced budget. It is one of 3 states that is in the black as far as budgetary issues go because of that provision. I live in a small community of 6,500 and they are ADDING an annex onto our public library – I find that exciting as the State of CA that I left 5 years ago was closing libraries due to alleged lack of funds (really a manipulation strategy).
Just a simple question:
At what point in the future will our national debt cause a financial collapse of this nation? Our enemies already know we can’t be taken by force, but they won’t have to, we are going to hand ourselves over to them because we are so arrogant, ignorant and self-serving. So how big a debt; 20 trillion, 25 trillion, 30 trillion, to what level will we and our leaders let it raise? Where is the point of no return? There probably is none where some of you live; In Lala Land with the Tooth Fairy.
I’ve been told that I’m a fool to concern myself with the national debt because we aren’t going to pay it anyway. Really? We are paying a huge amount of interest on the principal and the prior comments about China owning us is not far off point. So besides writing our comments, does anyone have any constructive ideas to offer that might help turn things around?
We need to keep on these people:
http://www.usa.gov/Contact/Elected.shtml
My Mother always told me the Chinese will rule the world many, many years ago… looks like Obama is helping them do it. His hatred for this country in something else… I hope all those jokers who voted him in for a second term are weighed down with higher and higher groceries, gasoline, clothes, cars, etc…. After all, Obama’s gonna let YOU, Mr and Mrs Citizen, pay for all his expensives clothes, houses, secret service for LIFE….