Jerome R. Corsi - WND
The first major intrusion of China in the U.S. oil and natural gas market can be traced to the Obama administration decision in October 2009 to allow state-owned Chinese energy giant China Offshore Oil Corporation, or CNOOC, to purchase a multi-million dollar stake in 600,000 acres of South Texas oil and gas fields.
By allowing China to have equity interests in U.S. oil and natural gas production, the Obama administration reversed a policy of the Bush administration that in 2005 blocked China on grounds of national security concerns from a $18.4-billion dollar deal in which China planned to purchase California-based Unocal Corp.
China’s two, giant, state-owned oil companies acquiring oil and natural gas interests in the USA are CNOOC, 100-percent owned by the government of the People’s Republic of China, and Sinopec Group, the largest shareholder of Sinopac Corporation, an investment company owned by the government of the People’s Republic of China, incorporated in China in 1998, largely to acquire and operate oil and natural gas interests worldwide.
On March 6, 2012, the Wall Street Journal compiled a state-by-state list of the $17 billion in oil and natural gas equity interests CNOOC and Sinopec have acquired in the United States since 2010.
"Cnooc and Nexen said in separate statements late Monday that they had completed the $15.1 billion acquisition after approvals from Canadian, U.K. and U.S. regulators, giving the third-largest Chinese oil and natural-gas company by output control over significant oilsand and shale-gas operations in Canada and crude-oil deposits beneath the North Sea and Gulf of Mexico. Hours before that, state-owned oil giant China Petrochemical Corp., or Sinopec Group, agreed to buy a 50% stake in Chesapeake Energy Corp.'s CHK -1.10% Chesapeake Energy Corp. Your Value Your Change Short position Mississippi Lime venture for $1.02 billion. In 2010 and 2011, Cnooc bought into Oklahoma City-based Chesapeake Energy's oil-rich shale fields in south Texas, as well as fields in Colorado and Wyoming. WSJ Feb. 26, 2013."
•Colorado: CNOOC gained a one-third stake in 800,000 acres in northeast Colorado and southwest Wyoming in a $1.27-billion pact with Chesapeake Energy Corporation.
"Sinopec buys shale interest from Devon for US$2.2b Sinopec Group, China's largest oil refiner, announced Tuesday one of its subsidiary has agreed to buy from Oklahoma-headquartered Devon Energy Corporation one-third of its interest in five new venture plays in the United States with a consideration of 2.2 billion U.S. dollars.
The Sinopec International Petroleum Exploration & Production Corporation (SIPC), one of the Chinese refiner giant's subsidiary, will acquire one-third of Devon's interest in Niobrara, Mississippian, Utica Ohio, Utica Michigan and Tuscaloosa, according to an agreement between the two companies.
Prior to this transaction, Devon had assembled 1.2 million net acres in the company's previously announced positions in the Tuscaloosa Marine Shale, Niobrara, Mississippian, Ohio Utica Shale and the Michigan Basin.
The SIPC and Devon have recently added acreage in the Ohio Utica Shale, increasing their joint position in the play to 235,000 net acres. SIPC will reimburse Devon for drilling costs incurred prior to closing and acreage acquisition costs incurred subsequent to the effective date of the agreement.
SIPC will make a 900 million-U.S.-dollar cash payment upon closing and 1.6 billion U,S. dollars paid in the form of a drilling carry. The drilling carry will fund 70 percent of Devon's capital requirements, which results in SIPC paying 80 percent of the overall development costs during the carry period. Based on the current work plan, Devon expects the entire 1.6 billion-U.S.-dollar carry to be realized by the end of 2014. Through 2012, SIPC and Devon expect to drill about 125 gross wells in the five plays, according to the agreement. china.org.cn Jan 4, 2012."
•Louisiana: Sinopec has a one-third interest in 265,000 acres in the Tuscaloosa Marine Shale after a broader $2.5-billion deal with Devon Energy.
•Michigan: Sinopec gained a one-third interest in 350,000 acres in a larger $2.5-billion deal with Devon Energy.
•Ohio: Sinopec acquired a one-third interest in Devon Energy’s 235,000 Utica Shale acres in a larger $2.5-billion deal.
•Oklahoma: Sinopec has a one-third interest in 215,000 acres in a broader $2.5-billion deal with Devon Energy.
•Texas: CNOOC acquired a one-third interest in Chesapeake Energy’s 600,000 acres in the Eagle Ford Shale in a $2.16-billion deal.
•Wyoming: CNOOC has a one-third stake in northeast Colorado and southeast Wyoming after a $1.27-billion pact with Chesapeake Energy. Sinopec gained a one-third interest in Devon Energy’s 320,000 acres as part of a larger $2.5-billion deal.
On March 6, 2012, in a separate story, the Wall Street Journal described that China’s strategy implemented since 2010 by Fu Chengyu, who has served as chairman of both CNOOC and Sinopec, involved the following components: “Seek minority states, play a passive role, and, in a nod to U.S. regulators, keep Chinese personnel at arm’s length from advanced U.S. technology.”
Harry Reid and Chinese solar investments in Nevada
On April 3, 3012, Bloomberg reported Chinese billionaire Wang Yusuo, one of China’s richest citizens and the founder of Chinese energy giant ENN Group, had teamed up with Senate Majority Leader Reid to win incentives including land 113 miles southeast of Las Vegas that ENN sought to buy for $4.5 million, less than one-eighth of the land’s $38.6 million assessed value.
Bloomberg reported ENN intended to create solar energy farms on the Nevada land, despite the nearly 50 percent plunge in solar panel prices globally in the previous 15 months that led to the bankruptcy of solar equipment maker Solyndra LLC, which had received approximately $535 million in U.S. government loan guarantees.
Bloomberg further documented ENN had contributed $40,650 individually and through its political action committee to Sen. Reid over the previous three election cycles.
Subsequently, on Sept. 4, 2012, Breitbart.com reported lawyer Rory Reid, the son of Sen. Reid, had been appointed the primary representative for ENN Energy Group, fronting the bid by the Chinese company to build a $5-billion solar panel plant on a 9,000-acre Clark County desert plot in Laughton, Nevada.
A Reuters report published on Aug. 31, 2012, documented that Reid was recruited by ENN during a 2011 trip he took to China with nine other U.S. senators, supposedly to invite Chinese investment in the United States.
The Senate group accompanying Reid on his 2011 trip to China included six other Democrats and three Republicans: Richard Shelby, R-Ala.; Barbara Boxer, D-Calif.; Dick Durbin, D-Ill.; Mike Enzi, R-Wyo.; Chuck Schumer, D-N.Y.; Frank Lautenberg, D-N.J.; Johnny Isakson, R-Ga.; Jeff Merkley, D-Ore.; and Michael Bennet, D-Colo.
Read more at http://www.wnd.com/2014/04/reid-smelling-anything-but-rosy-in-ranch-fight
Do your own research. Find out for yourself, who is selling out America!