China Buys Canadian oil and gas producer

@ThePainefulTruth Said

"China's Cnooc will buy Canadian oil and gas producer Nexen for $15.1
billion in cash, in China’s largest overseas energy acquisition to date.


"Cnooc will pay $27.50 a share for Nexen, representing a 61% premium to
the Canadian company’s closing price Friday on the New York Stock
Exchange.


"State-owned Cnooc is China's largest offshore oil company by production.
The deal will give it ownership of oil and gas reserves in western
Canada, the U.K.'s North Sea, the Gulf of Mexico and offshore Nigeria."



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@offbeat Said

this is where the free market lets itself down in my opinion ... there should be a national ban on selling essentials ( such as oil,gas,water etc ) etc ... how can putting yourself at the mercy of china ( in energy terms ) be a good thing ?

@offbeat Said

this is where the free market lets itself down in my opinion ... there should be a national ban on selling essentials ( such as oil,gas,water etc ) etc ... how can putting yourself at the mercy of china ( in energy terms ) be a good thing ?

@Demented Said

It seem strange to me that America is quite concerned about China and now they buy a good supply of oil,just above America and in the Nth Sea.

I said once before on here about the best way to invade another Country is to destroy their eccononmy first,and here we have China buying up oil reserves?? am I wrong to be skeptical???

@offbeat Said

no...i don't think so ... it's scandalous that companies should have free reign when it comes to selling 'sensitive' commodities .. energy , weapons technology ...and as painful mentioned above ..security technology ...it's profit for the few ..and possibly danger for the many ( just realized i paraphrased mr spock ) it's totally nuts .

@Demented Said

Hmmmmmmm,we'll just have to sit back and watch eh?while everything else gets sold off and we finally find out who the real major player is.