Here we are ….
Beijing-based PetroChina said it has completed the acquisition of a 20% stake in Shell’s 100%-owned land and assets in Groundbirch, in northeastern British Columbia. PetroChina didn’t disclose the value of the deal and Shell declined to comment.
h/t Adrian
Special note to Obamba…. Told ya so!
Let’s hope that the Chinese fight dirty when it comes to the EU and the US. A few dead activists would be a fine cement to a sound business relationship.
East of us?
More like Am-coms in the white house to the south, Can-Coms in most city councils and provincial legislatures at home, Euro-coms to the east of us – and UN-commies surround us.
It’s really a commie hoe-down with only pockets of free citizen resistance.
Thx, Jamie. Just realized it myself.
” .. Chicoms To The West Of Us, Marxist To The South … stuck in the middle with you”
OK
A good reason to avoid Shell. We need less communist influence, not more.
Actually, this gives Canada a REAL opportunity! Wait until they have sunk a bunch of money into this, and then take a page from their friend Hugo Chavez’ book and nationalize it! After all, they LOVED those Rules of Engagement, so how could they complain if Canada did the same?
So let me see if I have this right. We are letting the Chinese more or less pillage our natural resources (almost a national sport of theirs), while we waste billions upon billions on “green” technology, carbon taxes, and other useless ideas.
We are getting so incredibly stupid in Canada it is enough to drive one insane.
And what is the with Cons and their sudden desire to transform China from an export market (good) to an owner of Canadian resources (bad)? Some days I wake up and think I’m in the wrong universe. First we had that idiot Trudeau and the NEP, now we are inviting the Chinese to grab it all as fast as they can take it. Damn but governments can be stupid, regardless of their stripes.
No foreign governments should own businesses in Canada. Full stop.
No foreign corporation should own businesses in Canada unless Canadian corporations have unrestricted access to do business in the foreign country. Full stop.
Anything else is absolute stupidity.
Have to agree,”scar”. Maybe BC should look into selling all the shut-down sawmill towns to the PRC.
The Chinese could then send their spare citizens over to fill ’em up,and our shortage of trades and skilled people would be solved.
I know it would be a disaster for us, but watching the greenies heads explode would be worth it.By 2020 we oppressive white devils are supposed to be a minority in this Province with the majority Asians,so this would only speed things up a bit.
Just a thought; Stephen Harper could fire the head of the NG pipeline inquiry and contract it out to the PRC,who are famous for solving sticky problems in a most expeditious manner.
On the bright side at least they wont be demanding mosques to be built and special rights.
tj: Maybe check who owns shell. It makes no difference who owns the co. that drills the well they all pay. But if your so worried about ownership start your own oil co. and you make the big bucks. The people who sit around and bitch pi@@ me off because they want someone else to do the work.
“tj: Maybe check who owns shell. It makes no difference who owns the co. that drills the well they all pay”
Well first off Shell is not owned by communists. That’s probably a minor detail to those who think its fine if we let the Chinese grab everything we’ve got.
Visit Africa sometime and see what the Chinese are doing there. As a country they do not give a damn about anyone but themselves.
Chairman Mao Strong strikes again.
Thx, Jamie. Just realized it myself.
Posted by: Kate at February 3, 2012 11:03 AM
For a moment I thought you were inferring that there was infiltration on Parliament Hill…and we all know that’s not happening! 😉
I have not bought Shell gas since 1996 when they then insisted I could not sit on my motorcycle as I filled the tank.
My tank would overfill if the bike was on the side stand.
And on a related note I see where Kinder Morgan is probably going to expand their EXISTING pipeline from Edmonton to Vancouver to double the capacity to send oil sands oil offshore. It will then have as much capacity as the Northern Gateway proposal. And the regulatory process will be much less as they already have the right-of-way in-place. This would look good on the indians in the north. All their threats will get them squat-nada-nothing.They can then continue their traditional hunting, gathering and drinking.
The oil is going to get shipped one way or another whether it by by pipeline, rail or truck. The oil is there and people want it. Screw the indians and the ‘mericans.
It is an odd sensation for us Canadians to be all alone with everyone against us – all the world’s bullies.
Well, it will strengthen our character. I do think it is time that we got out of NATO, however; it is an alliance of our enemies.
We should get out of the UN not NATO.
What a@c said!
“…if we let the Chinese grab everything we’ve got.”
They paid cold, hard US greenbacks, suckhole, they didn’t get it for free. Did you put up a competing bid? They just might buy up a bunch of gas stations to sell gasoline to ya, to boot.
If you paid attention when they opened their Trawnna office, they came right out and said that they were here to partake in the sale of energy products to Nort Americanos. That included us, too. Too bad, so sad that it again takes a foreign entity to invest capital where Canadians refuse to go. Gutless, unsophisticated Canadians who will not invest in Canadian businesses unless it’s government approved and backed.
How many shares of Petro Canada did you buy when offered. Nah, didn’t think so.
Guys like tj are waiting for the gov. to start up an oil com. That way he can get a good gov. job pumping gas.
I wonder if the Chinese communists will allow their workers an option to buy a share in this oil company. If they are working for six cents an hour, they might want to pad their wallets a bit.
Who cares who pays the freight ? At least the Chicoms have the the money to pay our guys AND our governments to get the resource out of the ground. The way things are looking right now a great deal of the gas and oil is going to be shipped over there anyway. Anyone who bitches about investment and paying customers is a fool, a retard or worse.
Well it seems that Obama will do whatever he can to avoid the pipeline and access to Canadian oil,so I guess we need to look at the other biggest world market IE:Asia.I m not real thrilled that China is moving in here and buying up shares of oil patch companies,I would much rather deal with Americans,Brits or most european countries.However the US president and his lefty enviro-whakco pals seem to have made their decision,so we as a country need to do whats best for Canada.As they say business is business and in business if Company “A” won t deal with you then you deal with company “B” hopefully to a mutual benefit.
“Anyone who bitches about investment and paying customers is a fool, a retard or worse.”
Such arguments are very simplistic and hard to take seriously.
“Too bad, so sad that it again takes a foreign entity to invest capital where Canadians refuse to go.”
The above comment is such nonsense that all it shows is that you do not know any investors in the oil patch, or anything about investing in the oil patch.
“However the US president and his lefty enviro-whakco pals seem to have made their decision,so we as a country need to do whats best for Canada.”
Frankemm
The reality is that Canada MUST make a deal, the Obama loons are serious. It is not a game bluff when it reaches this level. The market has changed.
I expect that the 2012 Election may change some of the negative opinion but why take chances. The Republican Congress played it too cool…
The American Consumer won’t wake up until GAS is $6.00 & electrical power is hit with a high disconnect rate…..Only the elderly & poor actually need affordable heat & transportation.
Either we sell our resources to the Asians who are awash with American greeenbacks from MalWart, or we go back to living like our great grandparents did.
What do you think is paying for all those ‘free’ government benefits you think you’re entitled to?
Those here who don’t like foreign entities owning “our” natural resources may make a competing bid. This is preferable to the HarperCon path of quasi-nationalizing companies to appease nationalist twits like Brad Wall et alia.
Chinese “companies” should not be allowed to buy Canadian firms until communism is dead and buried.
This sucking up to China may be Harper’s worst mistake. I have the horrible feeling it may be for reasons of economics, when all Canada needs to do is to ditch the distortions and interventions, the subsidies, tax loopholes and high rates, and the like.
PO’ed is fundamentally right. Why are there no Canadian oil companies? Very simple reason. Big projects need big companies which need lots of capital to start up.
But there’s no access to lots of capital in Canada. Suicidally, the provinces refuse to agree on the need for a national securities exchange. Meaning that instead of one big Canadian financial and securities market, we have a host of piddly little ones all across the country. Some of which have a more than deserved reputation for slack regulation and shady dealing (come on down, Vancouver). Of all the industrial nations on earth, only one doesn’t have a national securities regulator. Guess who? So who in their right mind wants to raise tiny bits of capital from half a dozen tiny exchanges when you can get all you need at a lower interest rate by going offshore? And you only have to jump through one set of regulatory hoops at say NYSE or Hongkong, not half a dozen different sets the way you have to in Canada.
This financial marginalization of Canada inflicted on it by Canadians has been going on for about a century. Foreign entities can always outbid Canadian ones for a given asset if they want to because they can raise more capital at lower rates.
Yes I said lower. Small markets mean relatively few investors, so the interest rate you have to pay for capital raised in Canada is higher. And it should be noted that the Canadian financial markets model is failing. Every year the total capitalization of Canadian stock markets declines, and its been doing so for year.
So, anyone wanting to put together a BIG industrial project in Canada has to go offshore to find the money. And the provincial governments know this well but out of sheer stubbornness refuse anyway.
Let me clue you in, TJ. Oil in the ground is worth precisely nothing until someone sticks a pump into it. And that takes money, lots of it. As PO’ed quite rightly points out, the Chicoms have got cold, hard cash, and for market structure reasons, we don’t.
Canada’s highly successful provincial securities arrangement is the opposite of suicidal. It has been a huge success in attracting investment or at least not getting in the way. The alternative is centralized power-hungry machination ie the SEC.
“It has been a huge success in attracting investment or at least not getting in the way.”
Then please explain why total capitalization has declined every year in Canadian stock markets for more than 10 straight years. Why is it do you think that investors and listers are pushing exchanges to merge all over the world? That’s the direction that market forces are pushing towards.
In fact, in terms of attracting capital, our market structure is a major failure.
The data says otherwise, according to Corcoran.
Under provincial oversight, foreign holdings of Canadian stocks and bonds increased 25% between 2005 and 2009 (to $608.5-billion). The amount of outstanding Canadian dollar-denominated bonds issued in Canada by foreign issuers increased 108.7 times (10,800%) between 2000 and 2009 (from $550-million to $59.8-billion.
From 2005 to 2010, the number of international listings on Canadian exchanges increased from 150 to 285. Between 2005 and 2009, Toronto Stock Exchange-listed mining companies raised $64.1-billion in equity financing. During the same period, TSX-listed mining companies accounted for 8,316 (82%) of the 10,172 equity financing deals completed by mining companies globally.
http://opinion.financialpost.com/2011/12/22/terence-corcoran-court-upholds-model-that-works/