China E-Lobby picks up another acquisition by the Communist Chinese that has gone virtually unnoticed by the Canadian press. Or perhaps they do notice, but the subject is too close to Liberal Party vulnerabilities to risk mentioning too loudly.
CNPC buys up part of another Canadian oil firm: Meanwhile, the Communists continued their poaching of Canadian-owned resources (third and third items) with the Communist-owned China National Petroleum Corporation’s “$1.4 billion acquisition of the Ecuadorean oil assets of Canada’s EnCana Corp. this week” (Washington Times).
Add this to Sinopec’s 40% stake in a $4.5 billion oilsands project and the China National Offshore Oil Corp. purchase of 17% stake in MEGEnergy, as well as their buy out last month of Calgary-based PetroKazakhstan. They’re also eyeing Saskatchewan uranium.
So…. I wonder how long before a troubled Ontario Hydro is privatized to permit investment in “new infrastructure” by our new bestest frends?
A question those in the oppostiion benches might start posing, don’t you think?
Albertans to get $400 each from the province’s burgeoning surplus cash
LETHBRIDGE, Alberta (CP) – Premier Ralph Klein says every man, woman and child in Alberta will get $400 each from the province’s unbudgeted surplus – the result of burgeoning oil and gas wealth..>>>
canoewnews
Kate: China buying up our resources is one of the scariest things. I have no problem with private firms from democracies doing so, but for a Socialist/Fascist state to do so, under the guise of private companies, is very disquieting. And, given the cozy relationship the Martin Liberals and Power Corp group have with China, these aquisitions are even more disquieting.
Can you read between the lines? (not much effort required…)
But I thought foreign investment (American) was a Bad Thing and a threat to our sovereignty, identity, self-esteem, whatever.
Just get worried when it becomes “Chinese Tire”. And, by the way, WalMart is doing a land-office business in China.
Mark
Ottawa
The Chineese plead poverty and as long as we dumb Canuckleheads keep send them CIDA grants they will have the cash to buy anything they want.
Yet they seem to have enough walking around money to indulge in a multi-billion $ space program, spend $9 billion on expanding their military, buy up North American assets, all the while taking charity from Canada.
If I had earnings of say $500,000 a year and invested it all real estate, what would be my chances of getting a welfare check to feed my kids?
As I said awhile back, Alberta better pay attention. And I don’t think they are. This could never happen in America. Only in Canada. But I thought Alberta was smarter than that.
And what’s with the $400. An attempt to buy votes perhaps? This is pocket change for Albertans these days. If Klien lets the CPP into Alberta he’s toast. And he has. So he’s toast in my opinion. I know some will say that this is free enterprise and anyone can buy anything and Klien can only do so much. But this is different. This is energy.
Has anyone been paying attention to the oil shale deposits in Colorado? It looks like Shell has developed an ingenious approach to oil shale that may change things for OPEC. And the difference in cost of getting the oil out compared with Alberta’s tar sands could be easily offset with government grants, same as the nuclear power industry. So for Shell the bottom line could be the same.
http://www.rockymountainnews.com/drmn/news_columnists/article/0,1299,DRMN_86_4051709,00.html
I can’t see the US not supporting this when the alternative is having to depend on the Middle East which they have NO control over. Why not keep it all in the good old USA? Not only is this a very good deal for the US but it would also be a big feather in Bush’s hat. This would be great news for a beleaguered Bush administration, and just in time for next year’s elections. I can see the election platform now. “America will be energy self-sufficient in five years”. No more dependence on Middle East oil, no danger to the oil platforms from hurricanes in the gulf, etc., etc.
This will require a LOT of electricity. In my opinion this electricity will come from BC. BC has the transmission corridor already in place and they have excess generating capacity. So this might be very good news for BC and especially good news for the US and Shell. I can see Alberta and Colorado supplying all the oil for North America in five years. Nice!
Sorry to rain on your parade John – but BC does not have excess generating capacity. We buy from both Alberta and Washington State. If we have a low snow pack this winter we will be in deep dodo come next spring when there is no snow melt.
Shocking
Sparks. Ya’ I know. But it sounded good didn’t it? I used to do a lot of work for BC Hydro. I think BC could ramp it up within five or so years though. Doesn’t change the thrust of my comment, that Colorado is the story to watch right now, not Alberta where everyone’s eyes are.
What work did you do for BC Hydro John? If you are looking for an energy source, how about this for starters.
Hat Creek sub-bituminous coal deposit approx 11 billion tonnes. BC Hydro spect over $70 million trying to prove it up for thermal electric but the calories were just not there. They walked away from it.
There is technology that can gasify it and turn it into syngas, and then with a gas to liquids process turn it into ethanol or diesel.
At approx 100 litres per tonne/coal it should keep the wheels turning for a couple hundred years you would think?
Shocking
Before the REST of Canadian “national” resources and infrastructure formerly owned by the communist Liberals (uhhhhh, I mean the Canadian “government” uhhhh “people of Canada”) is sold to China, I suggest some fair-minded soul research what activities the China National Petroleum Corporation funds. Are they feeding the starving children of farmers displaced by the Great Dam… or what?
Sparks. I worked on many projects producing training manuals and classes. So I got in on some of the new stuff but not much. Mostly it was for training new workers. I worked with some smart people though in both production and transmission. This was about 10 or so years ago.
Though it’s expensive to extract, the amount of oil found in Colorado, Wyoming and Utah is staggering. As much as 1 trillion recoverable barrels embedded in rock. This dwarfs the known conventional reserves in Saudi Arabia.
In a new report, the Rand Corp. figures the process pioneered by Shell is profitable only when prices are $70 to $95 a barrel in today’s dollars, just a bit higher than current crude prices. Shell says about $30/barrel. Who to believe?
Problem is, I don’t trust the Rand Corp. Do some research sometime into who’s behind it and you may agree with me. I still think in 5 years we’ll see a steady supply of oil and gas from these fields. There are many problems but none of them are insurmountable in my opinion.
The US is beginning to look inward again. I think they will continue to clean up the Middle East but by the time Bush leaves they will be paying more attention to problems at home. And there are a lot of them. Geez, it’s one hurricane after another these days. Gotta feel sorry for them.
Tom, you poor misguided fool!!!! Why on earth would the Chinese Government be concerned about feeding their starving multitudes when there are socialist buddies in Ottawa that will do it for them?
Show me the money
Globalization Goes Both Ways
Certain right-wing reactionaries are starting to wonder if the free market is the way to go in the energy business, asking serious questions about Chinese investment in Canadian energy. They fear that the Commies are trying to take over Canadian indus…
Canada and China Strengthen Cooperation in Nuclear Energy
Beijing (PRC), January 20, 2005 � Canadian Prime Minister Paul Martin and Chinese Premier Wen Jiabo witnessed the signing of Memorandum of Understanding (MOU) today that will result in greater nuclear energy co-operation between our two countries.
This will establish a framework for collaboration on research and development programs, projects and activities aimed at furthering a basic understanding of nuclear energy and its applications, and improving cost and safety of nuclear energy systems. It will facilitate uranium resource development…
http://www.aecl.ca/index.asp?layid=55&csid=168&csid1=121&menuid=48
The Desmarais-liberal -powercor-PMO and alumnus are heavily invested in China…hell Martin’s top PMO “advisor” is a honorary Chinese citizen….why the mystery about the Liberals lack of concern over foreign control of our natural resources by China…had these been American purchases they would have had one of their Trudeau-rea soviet trade regulation boards kill the deals and “nationalize” the resource industry……all we have left to wonder now ( given the amount of money the PMO and Privy council Powercor alumnus are making in China and Chinese banking) is how much Canadian taxpayers are subsidizing the deals…I mean we still send foreign aid to this impoverished undeveloped nation which is buying up our resources….and we are on line to sling a couple of billion their way in carbon credit trade deals….yet they invest in a Kyoto-hostile carbon making fossil fuel industry here.
The fix is in people and you politically disempowered tax-slaves will pay the tab. The untouchable equites class plays the plebs pay…thus is the way of imperial Rome on the Rideau
As for Ont Hydro it IS primarily privatized…broken into 5 separate privately owned companies. Still the private ownership didn’t pay the massive debt the public utility rang up subsidizing power to large/connected users and the spending spree Moe Strong went on when his godson Bob Rea handed him the utility to use as collateral and financing for his personal real estate deals. My relatives show me their Ont Hydo bill and there is an itemized charge to users every billing for “debt retirement” and “delivery”….so we have a private utility with a public debt. Maybe Dolton will give Moe Strong a second crack at raping the utility if his new funding buddie PMPM requests it.
“My relatives show me their Ont Hydo bill and there is an itemized charge to users every billing for “debt retirement” and “delivery”….so we have a private utility with a public debt.”
If you dig deep enough, you’ll find that “debt retirement” and “delivery” also include this little expense:
http://www.mailarchive.ca/lists/can.politics/2005-04/0044.html
Poor Saskatchewan would do well to actually build reactors in the province and use the uranium to make money rather than giving it away for a song.
The cost of building a nuclear reactor in Saskatchewan for simply powering average households is too high – our population isn’t large enough. However, the opportunity to sell the power to Alberta, to run the tar sand projects was there, and missed. At it’s core, the NDP still has the nattering anti-nuke faction to compromise with, so thus, no actual nuclear development is likely under their watch, even if it could be economically feasable.
The frequently made suggestion that we generate electricity and sell it “to California” doesn’t work either – the population base is too far away.
Funny how Liberals are so keen on enabling nuclear technology proliferation to bastions of civilization like North Korea, Iran, and China, yet don’t want us to have anything to do with the stuff here at home. Things that make you go, hummmmmmm.
Another hmmmm is the way the Liberals and their fellow travellers were frothing at the mouth over trade agreements in the 80’s. The FTA was going to send all our jobe down to Georgis and then NAFTA was going to send them all down to Mexico. Now that all the jobs are going down to China, there is optimism/silence? Hmmmmm, hmmmmm.