Globalists’ Plan To Put America On The Chopping Block In America For Sale
Dr. Jerome R. Corsi, WND — (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.
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China Moving Into Gulf of Mexico
After a difficult political struggle, China received permission last month from the Canadian government to make its largest overseas acquisition of oil and natural gas interests outside China, acquiring Canadian energy producer Nexen Inc. for $15.5 billion. In the process, China acquired Nexen oil and natural gas operations in the Gulf of Mexico in U.S. waters.
Although the deal still requires approval from CIFUS, the U.S. Committee on Foreign Investment, the acquisition of Nexen’s high-tech ultra-deepwater drilling resources in the Gulf of Mexico was a major reason China sought to acquire the company. CNOOC, a company that derives nearly all its domestic capacity from shallow waters, has announced a goal of producing 1 million barrels of oil per day from ultra-deepwater oil and natural gas facilities by 2020, more than doubling current capacity.
In 2010, China passed the U.S. to become the world’s largest energy consumer, according to the International Energy Agency. China consumed 2.252 billion tons of oil equivalent in 2009, approximately 4 percent more than the U.S. » Read More
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About the Author
Dr. Jerome R. Corsi, a Harvard Ph.D., is a WND senior staff reporter. He has authored many books, including No. 1 N.Y. Times best-sellers "The Obama Nation" and "Unfit for Command." Corsi's latest book is Where's the REAL Birth Certificate?
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