Today's NY Times is reporting that "Cnooc, one of the largest Chinese state-run oil companies, has agreed to buy a third of Chesapeake Energy’s
oil and gas assets in a south Texas shale deposit for $1.1 billion,
in a deal that will ultimately be worth double that amount. It is the
largest Chinese purchase of U.S. energy assets ever and the latest in a
string of similar deals by Beijing around the world." (NY Times).

Is this good or bad for us?  Here is the article:



Tags: cnooc

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Okay, I can't resist.

Does this mean they'll be hanging "Mao" ornaments on the company Christmas trees?

80)
Sesport, I thought you were going to ask if they would be decorating the Christmas Tree on the wells!!!!

LOL THIS SHOULD GIVE JOBS AND MAYBE SOME TEXANS WILL WORK AS THEY MAY DRILL BABY DRILL.
Sesport, Would you turn down a royalty check printed with a picture of "Mao" on it?
PG - LMDO!!!

Perhaps you missed this blog discussion awhile back...

http://www.gohaynesvilleshale.com/profiles/blogs/obama-shale-gas-am...

IMO, somebody owes John Avatar an apology. But I digress.

My comment was made in light of some topics & discussions I've seen posted in the Pol Group. Just wondering if there are those who worry about communist influence over industry as much as they worry about communist influence over our federal government & the current administration. Personally, I could care less who's picture is on our currency, for all I care put Santa Claus or the Easter Bunny on it as long as I retain my buying power. And our holiday decorations are usually reflective of our country's pluralistic culture.

Still enjoying flip-flop season, huh?

80)
flamebait. john avatar got what he deserved, and so should you if you don't keep political discussions where they belong.
Hmm, Cant help but see the irony when a Communist country is creating jobs in the US when our current administration is doing all it can to stifle the energy industry.

Maybe we can get them to build the "Great Wall of Texas" along the Rio Grande while they are here :) Sorry couldnt resist!
The Chinese own so much of our country's debt that they could easily buy all of our shale production if it were for sale and they wanted it.
drillbit - Perhaps we should be careful what we wish for??? Seems to me I recall many of our industries being enticed to move to China, thus reducing what we had/have to offer in terms of jobs here. Many of those who lost jobs also lost their homes, which China held paper on. It also put us in the position of being offered many of their goods (dog food products, cement, drywall for homes to name a few) in our markets, again sending our dollars overseas. Do we really want them holding too much paper on our energy industries?

80)
Do not laugh to hard. We copied their cash for clunkers but instead of protecting our car industry we helped Japan. When they exempted a 3500 tax for new cars, we gave away $3500 per car. But what they will do now is learn how to extract their own gas and turn off the 48" pipeline from Russia. This added supply will also lessening their need on OPEC oil which in turn will help us as well. Very strange bedfellows
If we can teach the world how to Frac their shale we will decrease the oils hold on the US. This would allow us time to develop more alternate energy sources.
Tried to resist this!!!! Music is one of my interest, and I have had extra jobs in music areas.. It seems that "Id Like to Teach the World to Sing" would be , in some opinions, better than some of our old traditions to some people. "Ya'll remember that?"

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