Michele Kearney's Nuclear Wire

Major Energy and Environmental News and Commentary affecting the Nuclear Industry.

Thursday, July 26, 2012

Reactions to China's Canadian Play7/26

Schumer Plays Hardball on Cnooc

Wall Street Journal -
By KEITH JOHNSON WASHINGTON—Sen. Charles Schumer said he would ask Treasury Secretary Timothy Geithner to use Cnooc Ltd.'s proposed $15 billion purchase of Canadian energy firm Nexen Inc. as leverage to pry open the Chinese market for US companies.

Republicans say China oil deal highlights US inaction

Reuters UK -
* Senators propose more drilling, pipeline approval * Concerned about CNOOC-Nexen deal * Stop short of saying US government should block it (Adds Pelosi spokesman calling for a review) By Roberta Rampton WASHINGTON, July 26 (Reuters) - China's plan to ...

On CNOOC-Nexen, Prentice Sees It Differently

Wall Street Journal (blog) -
By Paul Vieira CNOOC Ltd.'s plans to buy Calgary's Nexen Inc. for $15.1 billion got another endorsement on Thursday, this time from Jim Prentice – a former Canadian industry minister in Prime Minister Stephen Harper's Conservative government who in ...

A Chinese oil firm in Canada

The Economist -
WHEN Barack Obama put on hold plans for an oil pipeline from Canada to the United States, Canada's prime minister said perhaps it was time to turn to Asia. This week further evidence emerged that if America isn't interested in Canada's mucky tar sands, ...

Thumbs down

Calgary Herald -
Re: "Dealing with China," Editorial, July 25. Nexen's takeover by the Chinese government runs counter to free enterprise and should be vetoed. CNOOC is 100 per cent owned by the Chinese government, making it an instrument of foreign policy for Beijing.

Ethical oil flows both ways

Edmonton Journal -
Re: "Nexen backs Chinese takeover bid; $15-billion deal will see Calgary established as CNOOC hub," the Journal, July 24. The Harper government has proclaimed development of Canadian resources should be balanced with human rights.

Nexen sale is good for Canada

Vancouver Sun -
To listen to critics of the sale of Nexen to the state-run China National Offshore Oil Co. (CNOOC), a Communist oppressor will be coming to Alberta with slave labour to extract oil as it prepares for war with the West.

China in the oil patch, should we 'fear the dragon'?

CBC.ca -
During his visit to China in February, Prime Minister Stephen Harper had two things on his mind: pandas and oil. For Canada, the trip was a success. Harper had his picture taken with two of China's cutest inhabitants, and told China's leaders often and ...

CNOOC gets hand on Brent pricing levers

Asia Times Online -
By Robert M Cutler MONTREAL - The US$15 billion purchase by China-based offshore oil and gas producer CNOOC of Calgary-based Nexen Inc, Canada's sixth-largest independent oil explorer and producer, marks the biggest foreign acquisition ever by a ...

Former Australian PM sees role for Canada in world tilting toward China

Globe and Mail -
Kevin Rudd, the former prime minister of Australia, dreams of what he calls the Pax Pacifica, a 21st century in which the world peacefully accommodates both a rising China and a declining America within the embrace of once-Western but now universal ...

Jim Prentice

Globe and Mail -
A few months ago, The Economist magazine opined that the defining battle of the 21st century would not be between capitalism and socialism, but between different versions of capitalism – market capitalism on the one hand and state-owned enterprises ...

Nexen deal: The only standard is reciprocity

Globe and Mail -
The CNOOC takeover bid for Nexen demonstrates once again that while a given government policy tool may have a bright, sunny face, it often simultaneously casts a dark, problematic shadow. The Canadian policy tool that will be used to determine whether ...

CNOOC, Shell to explore S China Sea oil blocks

China Daily -
BEIJING -- China National Offshore Oil Corporation, the country's largest offshore oil producer, on Wednesday signed two production-sharing contracts with Royal Dutch Shell PLC to explore a pair of offshore oil blocks in the South China Sea.

CSIS said to be probing financial links between First Nations, China

National Post -
CALGARY — Canadian intelligence services appear to have probed financial links between First Nations groups and Chinese companies as scrutiny continues to mount on China's interest in this country's natural resources sector.

US lawmaker: No legal power to stop China-Canada oil deal

Jerusalem Post -
By REUTERS WASHINGTON - Congressman Randy Forbes, a Republican who has been wary of China's military and economic power, said he is alarmed by a bid by China's state oil company CNOOC for Canadian oil company Nexen. But Forbes said there is not much he ...

Nexen bid shows China can learn

Financial Post -
Experts, pundits and netizens have all weighed in on the pros and cons of CNOOC's proposed US$15.1-billion purchase of Nexen, including various analyses of China's intentions and the implications for Canada's future relations with China.

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