Posted by: coastcontact | August 12, 2012

China is Invading North America

Will the presidential candidates talk about this?  Probably not!

China does not have an army off the coast of North America deciding what date an invasion will occur.  They do have the financial ability to impact the United States in a most unfavorable way.

The Chinese are in a search for needed natural resources and they will go almost anywhere to obtain access.  On  of their most recent foray has been in Australia where they are mining iron ore. Many Australians  aren’t happy about this situation.  Money talks louder than feelings.

Now China sees an opportunity to obtain oil from North America.  Not in the United States, rather in Canada. Canada is Not Part of the U.S.A.  Canada has significant tar sands oil in Alberta and has wanted to ship their oil to Louisiana for processing and sale.  Since the United States has been saying No to building the Keystone XL pipeline the Canadian government is looking for another path.

As reported in Businessweek and the Washingon Times, CNOOC (a Chinese government controlled oil producer has agreed to pay $15.1 billion for Canada’s Nexen.  Chinese companies hasve spent over $53 billion in Canada over the past decade. This new deal gives CNOOC access to oil and gas fields in the North Sea, the Gulf of Mexico, and Nigeria, as well as the oil reserves in Alberta.

The likelihood of building the Keystone XL pipeline has been diminished.  This new deal with  CNOOC will make Canada even less dependent on the U.S. as a primary customer for its oil and gas.

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