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Good job Obama and Hillary. Selling out American energy to foreigners.

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posted on May, 2 2017 @ 03:00 PM
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a reply to: allsee4eye

During the Obama administration is not only the Saudis that have bought no only refineries but also farm land in the US, China also have bought many banking institutions and CNOOC bought S. Texas oil, gas.

Yes government have a say so on the arrangement of deals that have to do with the nations natural resources, but so far no much problems with this sales.


China’s oil interests


Along with CNOOC, which is 100-percent owned by the communist Chinese government, Sinopec Group also is purchasing energy interests in the U.S.

Sinopec Group is the largest shareholder of Sinopac Corporation, a state-owned investment company incorporated in 1998 largely to acquire and operate oil and natural gas interests worldwide.

The Wall Street Journal recently compileda state-by-state list of the $17 billion in oil and natural gas equity interests CNOOC and Sinopec have acquired in the U.S. and Canada since 2010.
•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.
•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.

The Wall Street Journal reported China’s strategy – implemented since 2010 by Fu Chengyu, who has served as chairman of both CNOOC and Sniopec – is to “seek minority stakes, play a passive role, and, in a nod to U.S. regulators, keep Chinese personnel at arm’s length from advanced U.S. technology.”


www.wnd.com...

Under the Obama administration is a lot of damage done to America.




posted on May, 2 2017 @ 03:45 PM
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a reply to: TheRedneck




I have no earthly idea. You wanted to know why the Executive Branch was allowed to review and override corporate transactions... I answered.


No, not really. I was wondering why the OP was blaming the Obama Administration for the "selling off of American resources" by allowing Aramco to buy out Royal Dutch Shell.

The OP seems to think that running a refinery in the USA means they own all the oil and can dictate the sale of said oil. They can't. The OP seems to be upset that the company is now 100% Saudi foreign ownership, but fails to understand that it was 100% foreign owned before the Royal Dutch Shell buy out, and thinks that the Saudi 100% ownership of the refinery is now a breech of national security. I don't see the difference from before, when it was 50/50%, but still 100% foreign ownership.
edit on 2-5-2017 by windword because: (no reason given)



posted on May, 2 2017 @ 09:16 PM
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a reply to: windword

Ah, I see. I misunderstood your question.

I do think the Feds can exert control over foreign purchases, especially in energy infrastructure, under the umbrella of National Security. Considering that Saudi Arabia has a stable government (the reason they are not on that infamous list of 7 bigly bad countries) and is friendly to US interests, I actually think one could make a case for Obama's decision to not interfere with the sale.

All these decisions are handled on a case-by-case basis, as are antitrust cases.

TheRedneck



 
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