Author Topic: China Stakes Claim to S. Texas Oil, Gas  (Read 2272 times)

SAMSON123

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China Stakes Claim to S. Texas Oil, Gas
« on: October 13, 2010, 12:18:24 AM »
Texas going Chinese..the rest of america will soon follow

China stakes claim to S. Texas oil, gas


By Monica Hatcher- Houston Chronicle
Web Posted: 10/12/2010 12:48 AM CDT

HOUSTON — State-owned Chinese energy giant CNOOC is buying a multibillion-dollar stake in 600,000 acres of South Texas oil and gas fields, potentially testing the political waters for further expansion into U.S. energy reserves.

With the announcement Monday that it would pay up to $2.2 billion for a one-third stake in Chesapeake Energy assets, CNOOC lays claim to a share of properties that eventually could produce up to half a million barrels a day of oil equivalent.

It also might pick up some American know-how about tapping the hard-to-get deposits trapped in dense shale rock formations, analysts said.

As part of the deal, the largest purchase of an interest in U.S. energy assets by a Chinese company, CNOOC has agreed to pay about $1.1 billion for a chunk of Chesapeake’s assets in the Eagle Ford, a broad oil and gas formation that runs largely from southwest of San Antonio to the Mexican border.

CNOOC also will provide up to $1.1 billion more to cover drilling costs.

The deal represents China’s second try at making a big move into the U.S. oil and gas market, following a failed bid five years ago to buy California-based Unocal Corp.

Intense political opposition over energy security concerns derailed that $18.4 billion deal. But analysts expect few political or regulatory hurdles to the CNOOC-Chesapeake deal.

“The climate is much more hospitable now,” said Juli MacDonald-Wimbush, a partner with Marstel-Day, an energy and environmental security consulting company in Fredericksburg, Va.

Amid low natural gas prices and a largely difficult drilling climate, she said highly liquid Chinese companies will find willing partners among onshore oil and gas companies hurting for capital to drill.

“They have the cash, and energy companies in the U.S. are looking for the cash to develop these reserves,” MacDonald-Wimbush said.

Aubrey McClendon, CEO of Oklahoma City-based Chesapeake, said he has not heard objections to the sale.

Unlike China’s Unocal bid, the latest deal doesn’t involve technology transfers or a direct investment in Chesapeake, he said, and CNOOC employees won’t work for Chesapeake, which will continue to operate the project.

“This is a pretty simple business transaction,” McClendon said. “The initial feedback we’re getting is that this is something the government should be very happy to see, which is the return of American capital into our country so that we can use it to create high-paying American jobs and also reduce oil imports a few years down the road.”

He projected that the sale would create as many as 20,000 jobs, directly and indirectly, and, on CNOOC’s dime, allow the company to increase its rig count in South Texas from 10 rigs to about 40 by the end of 2012.

Analysts have suggested that much of CNOOC’s interest is in gaining technical insight. Gas and oil locked in the nation’s plentiful shale formations is abundant but difficult to extract.

The deposits, known as unconventional plays, have attracted growing interest in recent years because of improved technology in hydraulic fracturing, which frees hydrocarbons by pumping fluid and sand into reservoirs to crack the rock.

Chesapeake, one of the nation’s largest independent oil and gas companies, was an early mover in the shales, leasing up land aggressively this decade.

“From the Chinese perspective, this is a golden opportunity for them. They have identified shale resources in China, but they don’t have the knowledge or technical expertise to go after those resources,” said Ken Medlock, a fellow at Houston’s Baker Institute and adjunct professor in Rice University’s economics department.

McClendon disputed that notion, saying hydraulic fracturing is now “off-the-shelf technology” available to anyone.

Also underlying the move is China’s need to find new energy sources and the technology to develop them to feed its expansive economic growth.

Energy consumption in the world’s most populous nation has doubled in less than a decade, and the International Energy Agency reported in July that China surpassed the U.S. in total energy used in 2009.

China has increasingly been looking to the Americas for raw materials it needs to sustain the boom. As private investment dwindled with the global financial crisis, the cash-flush Chinese went on a regional shopping spree.

“It’s really kind of exploded. All of a sudden, you’ve started to see a lot of large-scale purchases,” said Evan Ellis, an expert on China’s involvement in the region who teaches at the Center for Hemispheric Defense Studies in Washington. “Basically Latin America is becoming a Pacific-oriented region.”

China has poured some $20 billion in loans and direct investments into Brazil’s offshore oil exploration and production, for example. And last spring, the Chinese government loaned $20 billion to Venezuela to develop oil fields in its Orinoco River basin, with much of the work awarded to Chinese companies.
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kcballer

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Re: China Stakes Claim to S. Texas Oil, Gas
« Reply #1 on: October 13, 2010, 12:00:59 PM »
 ::)

They'll never have a controlling share in anything deemed of american importance.  Tried it in the past, government said no.  China is going down the tubes, their bubble is going to burst huge!
Abandon every hope...

SAMSON123

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Re: China Stakes Claim to S. Texas Oil, Gas
« Reply #2 on: October 13, 2010, 01:48:06 PM »
::)

They'll never have a controlling share in anything deemed of american importance.  Tried it in the past, government said no.  China is going down the tubes, their bubble is going to burst huge!

And america will never ever borrow or have to borrow from China to stay solvent..... ::) ::) ::)
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OzmO

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Re: China Stakes Claim to S. Texas Oil, Gas
« Reply #3 on: October 13, 2010, 01:55:01 PM »
And Saturn going to be our second sun, America is going to get it's sovereignty signed away, the queen of England owns all US land, a jet airplane crashed into the empire state building, the moon landing is a hoax, the particle accelerator is going to make a black hole on earth, we will get shot if eat organic foods, the USA is collapse economically......
Blah blah blah.
 ::)
 ;D
 

SAMSON123

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Re: China Stakes Claim to S. Texas Oil, Gas
« Reply #4 on: October 13, 2010, 02:00:04 PM »
And Saturn going to be our second sun, America is going to get it's sovereignty signed away, the queen of England owns all US land, a jet airplane crashed into the empire state building, the moon landing is a hoax, the particle accelerator is going to make a black hole on earth, we will get shot if eat organic foods, the USA is collapse economically......
Blah blah blah.
 ::)
 ;D
 

Remember I did not say those things but only presented the researchable factual evidence of these things being true.

I see in your world your glass is half empty
C

Fury

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Re: China Stakes Claim to S. Texas Oil, Gas
« Reply #5 on: October 13, 2010, 02:01:51 PM »
And Saturn going to be our second sun, America is going to get it's sovereignty signed away, the queen of England owns all US land, a jet airplane crashed into the empire state building, the moon landing is a hoax, the particle accelerator is going to make a black hole on earth, we will get shot if eat organic foods, the USA is collapse economically......
Blah blah blah.
 ::)
 ;D
 

LOL!

The saddest part is that's only a sample of the asinine comments and theories that can be attributed to that retard. Astoundingly stupid, to say the least.

OzmO

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Re: China Stakes Claim to S. Texas Oil, Gas
« Reply #6 on: October 13, 2010, 02:13:06 PM »
Remember I did not say those things but only presented the researchable factual evidence of these things being true.

I see in your world your glass is half empty

My glass is half empty because of the reptilian ancestry of JFK.

No Sammygirl, your hatred of the USA and you gullible intellect speaks volumes.

The USA owns you.

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Re: China Stakes Claim to S. Texas Oil, Gas
« Reply #7 on: October 13, 2010, 02:19:12 PM »
i find this development troubling.

If iran was buying up resource rights in New York state, you'd all be shitting your britches.

China is a MUCH BIGGER long-term threat to America that iran.  See, Iran might one day get nukes - China already has them, don't they?  Iran might hurt dollar dominance - China could END it.  Iran's military budget?  $6 billion a year.  China spends $30 bil a year.
iran's forces?  900k.  China?  2.3 million....
And this isn't even talking about their 'aircraft carrier killer' weaponry...

So yeah, this might be 'no biggie' if it only happens once.  And it was 'no biggie' when Hilter moved into the Rhine just to see if France would chase them out.  But suppose china wasn't investing 2.2 BILLION... Suppose it was 20 billion.... or 200 billion?  At what point do you say "gulp...." ?

Fury

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Re: China Stakes Claim to S. Texas Oil, Gas
« Reply #8 on: October 13, 2010, 02:24:43 PM »
i find this development troubling.

If iran was buying up resource rights in New York state, you'd all be shitting your britches.

China is a MUCH BIGGER long-term threat to America that iran.  See, Iran might one day get nukes - China already has them, don't they?  Iran might hurt dollar dominance - China could END it.  Iran's military budget?  $6 billion a year.  China spends $30 bil a year.
iran's forces?  900k.  China?  2.3 million....
And this isn't even talking about their 'aircraft carrier killer' weaponry...

So yeah, this might be 'no biggie' if it only happens once.  And it was 'no biggie' when Hilter moved into the Rhine just to see if France would chase them out.  But suppose china wasn't investing 2.2 BILLION... Suppose it was 20 billion.... or 200 billion?  At what point do you say "gulp...." ?

Iran believes the 12th Imam will come from the sky to raise the Muslims up when the apocalypse is upon this planet. China doesn't. Nuclear weapons in the hands of religious whackjobs is a good way to usher in said apocalypse.  

China has enough problems of its own brewing. Like the letter released today that was written by former high ranking Communist party officials calling for, among other things, freedom of speech of China.

We could clear up the China problem easily if we got out of their debt.

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Re: China Stakes Claim to S. Texas Oil, Gas
« Reply #9 on: October 13, 2010, 02:34:51 PM »
Iran believes the 12th Imam will come from the sky to raise the Muslims up when the apocalypse is upon this planet. China doesn't. Nuclear weapons in the hands of religious whackjobs is a good way to usher in said apocalypse.  

China has enough problems of its own brewing. Like the letter released today that was written by former high ranking Communist party officials calling for, among other things, freedom of speech of China.

We could clear up the China problem easily if we got out of their debt.

dude, china's problems are what worry me MOST.  iran isn't desperate - they're rich and comfy and talk shit but du nothing.  Desperate countries worry me.

What's gonna happen when this entire generation of men without mates turn 30, 40, 50, and beyond?  They're gonna have a huge crisis.  Remember that the USA was looking at a big shithole problem in late 2001, and 911/wars saved our asses.  Do you really doubt China would "find work" for all these citizens by false flagging and going to war with someone... possibly a nation who can't afford to pay them back, but who has some really awesome resources?  ;)

Fury

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Re: China Stakes Claim to S. Texas Oil, Gas
« Reply #10 on: October 13, 2010, 02:39:25 PM »
dude, china's problems are what worry me MOST.  iran isn't desperate - they're rich and comfy and talk shit but du nothing.  Desperate countries worry me.

What's gonna happen when this entire generation of men without mates turn 30, 40, 50, and beyond?  They're gonna have a huge crisis.  Remember that the USA was looking at a big shithole problem in late 2001, and 911/wars saved our asses.  Do you really doubt China would "find work" for all these citizens by false flagging and going to war with someone... possibly a nation who can't afford to pay them back, but who has some really awesome resources?  ;)

You live in a fantasy world.


Soul Crusher

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Re: China Stakes Claim to S. Texas Oil, Gas
« Reply #11 on: October 13, 2010, 02:40:02 PM »
i find this development troubling.

If iran was buying up resource rights in New York state, you'd all be shitting your britches.

China is a MUCH BIGGER long-term threat to America that iran.  See, Iran might one day get nukes - China already has them, don't they?  Iran might hurt dollar dominance - China could END it.  Iran's military budget?  $6 billion a year.  China spends $30 bil a year.
iran's forces?  900k.  China?  2.3 million....
And this isn't even talking about their 'aircraft carrier killer' weaponry...

So yeah, this might be 'no biggie' if it only happens once.  And it was 'no biggie' when Hilter moved into the Rhine just to see if France would chase them out.  But suppose china wasn't investing 2.2 BILLION... Suppose it was 20 billion.... or 200 billion?  At what point do you say "gulp...." ?

Oh STFU! ! ! !  


You were the one crying like abitch over the gulf and the need to shut down drilling.  Cry me a damn river already.    



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Re: China Stakes Claim to S. Texas Oil, Gas
« Reply #12 on: October 13, 2010, 03:17:48 PM »
ok guys - what is the # where you get concerned?  How many sq. miles of US land under chinese development, how many $billions of oil reseources they own, before it concerns you?

If they suddenly 'invested' in 95% of US oil reserves, we'd all be panicked, right?  But .0001% is no biggie.  So what's the number in between that would worry you guys?

Kazan

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Re: China Stakes Claim to S. Texas Oil, Gas
« Reply #13 on: October 13, 2010, 05:20:29 PM »
ok guys - what is the # where you get concerned?  How many sq. miles of US land under chinese development, how many $billions of oil reseources they own, before it concerns you?

If they suddenly 'invested' in 95% of US oil reserves, we'd all be panicked, right?  But .0001% is no biggie.  So what's the number in between that would worry you guys?

The Chines may have 2.3 Million troops, but they are poorly trained, all that makes is a target rich environment. They have no Navy, so how would they get here? What good would nuking America do them? My company has about 5 Chinese offices, the people I deal with are not hardcore commies and the majority of the people don't seem to be either.
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SAMSON123

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Re: China Stakes Claim to S. Texas Oil, Gas
« Reply #14 on: October 13, 2010, 10:18:12 PM »
The Chines may have 2.3 Million troops, but they are poorly trained, all that makes is a target rich environment. They have no Navy, so how would they get here? What good would nuking America do them? My company has about 5 Chinese offices, the people I deal with are not hardcore commies and the majority of the people don't seem to be either.

THe Chinese military is much larger than the 2.3 million quoted. Every male at the age of eighteen must do compulsory military service. At present there is a standing army of 3 million and a available volunteer military of over 300 MILLION who are all FIT FOR DUTY. Did I hear you GULP???
http://en.wikipedia.org/wiki/People%27s_Liberation_Army

So far as China not having a navy I don't know what drugs you are smoking , but you better quit

http://en.wikipedia.org/wiki/People%27s_Liberation_Army_Navy

http://en.wikipedia.org/wiki/Republic_of_China_Navy





C

SAMSON123

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Re: China Stakes Claim to S. Texas Oil, Gas
« Reply #15 on: October 13, 2010, 10:34:57 PM »
And remember Kazan the Chinese have moved military operations into Panama, Venezuela, Mexico and Cuba with eyes on Haiti...so america is surrounded.

Declining U.S. Navy facing Chinese challenge Fleet's status creates door of vulnerability to other powers, terrorists
Posted: February 13, 2010
10:30 pm Eastern

© 2010 WorldNetDaily

U.S. Navy

A growing Chinese fleet could keep the declining U.S. Navy out of the Western Pacific, according to an expert cited in a report from Joseph Farah's G2 Bulletin.

The U.S. also could be faced with new military challenges around the globe because of the projection of power a growing Chinese navy would present.

Yet, the U.S. Navy has cut back the number and type of ships to the level it was prior to the Reagan administration. Indeed, the Navy hasn't been as small since the administration of William Howard Taft, according to naval expert Seth Cropsey.

The dire development leaves the U.S. vulnerable to "proliferation, resource scarcity, environmental change, the emergence of new international power centers including non-state actors, significant changes in relative U.S. power, failed states and demographic change … (in) an increasingly unstable future and a challenging international strategic environment," Cropsey said.

Cropsey, who served during the Reagan and George H. W. Bush administrations as a principal deputy under the secretary of the Navy, said the U.S. Navy is "in distress."

He said the wars in Afghanistan and Iraq have "sucked the oxygen" out of any effort to understand the connection between the large changes strategic planners see in the future or the ability to wield global influence through U.S. naval power.

"The size, shape and strategy of the U.S. Navy are a critical element of America's position as the world's great power," Cropsey said. "Our ability to protect or rend asunder the globe's ocean-going lines of communication is inseparable from our position as the world's great power.

"But very few outside a small community of naval officers and selected military and foreign policy analysts appreciate the strategic results of American sea power's slow but steady diminution," he added.

Globally, Cropsey said, the U.S. Navy's continued attrition also means a serious threat to the security of the world's sea lines of communication and the choke points such as the Straits of Hormuz near Iran through which some 40 percent of the world's energy and other trade pass.

"The consequences of a much-diminished U.S. fleet are complemented by the American public's ignorance of them, the slow yet steady pace of naval deterioration, and the increasing time and dismayingly large resources needed to recoup sea power surrendered slowly over decades," Cropsey said.

The gradual decline in the U.S. Navy comes hardly as a surprise to Congress. Last May, Adm. Gary Roughhead, chief of naval operations, told the House Armed Services Committee the Navy was stretched in its ability to modernize and "procure the Navy for tomorrow."

He said the Navy would reduce its carrier fleet from 11 to 10 for at least three years, which would increase the interval between a departing carrier and its replacement's arrival "along with the associated risk of absence during a crisis."

A separate Congressional Research Service report by naval analyst Ronald O'Rourke told Congress that China has built or is in the process of building four new classes of nuclear and conventional-powered attack and ballistic-missile submarines.
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Re: China Stakes Claim to S. Texas Oil, Gas
« Reply #16 on: October 13, 2010, 11:38:53 PM »
And remember Kazan the Chinese have moved military operations into Panama, Venezuela, Mexico and Cuba with eyes on Haiti...so america is surrounded.

LOL... that's some shit that WE do.  You might ask what in the effin world China needs military operations and bases surrounding the USA... 

Kazan

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Re: China Stakes Claim to S. Texas Oil, Gas
« Reply #17 on: October 14, 2010, 07:28:26 AM »
Samson you can post as many fucking articles as you can find doesn't change the fact that the Chinese don't have the ability to move those 3 million troops around. I don't know why I even bother address you, you have no concept of logistics. And I'll put the US navy up against the Chines navy any day of the week, one carrier battle group and they look like the decorations at the bottom of a fish tank.  So unless the US is planning on invading China the numbers don't count for shit. And as far as all of them fit for duty BWAHAHAHAHAHAHAHAHA
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Re: China Stakes Claim to S. Texas Oil, Gas
« Reply #18 on: October 14, 2010, 07:51:45 AM »
Samson you can post as many fucking articles as you can find doesn't change the fact that the Chinese don't have the ability to move those 3 million troops around. I don't know why I even bother address you, you have no concept of logistics. And I'll put the US navy up against the Chines navy any day of the week, one carrier battle group and they look like the decorations at the bottom of a fish tank.  So unless the US is planning on invading China the numbers don't count for shit. And as far as all of them fit for duty BWAHAHAHAHAHAHAHAHA
All China has is man power.  They lack technology, equipment and the knowledge to use them especially on the ocean.  

Citing China as a military power because of man power is ignorant. Actually citing man power as a main factor in any nation on nation conflict is pretty stupid.  But that's par for the course with him.  But he is a diligent researcher lol.   However, in 20 years or so, it's been estimated the chineese may catch up.  But Saturn will probably be a second sun by then.

Kazan

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Re: China Stakes Claim to S. Texas Oil, Gas
« Reply #19 on: October 14, 2010, 07:57:59 AM »
All China has is man power.  They lack technology, equipment and the knowledge to use them especially on the ocean.  

Citing China as a military power because of man power is ignorant.  However, in 20 years or so, it's been estimated they may catch up.  But Saturn will probably be a second sun by then.

Or perhaps the laws of physics are different for Chines and they can just walk across the ocean to the US.
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SAMSON123

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Re: China Stakes Claim to S. Texas Oil, Gas
« Reply #20 on: October 14, 2010, 08:16:32 AM »
All China has is man power.  They lack technology, equipment and the knowledge to use them especially on the ocean.  

Citing China as a military power because of man power is ignorant. Actually citing man power as a main factor in any nation on nation conflict is pretty stupid.  But that's par for the course with him.  But he is a diligent researcher lol.   However, in 20 years or so, it's been estimated the chineese may catch up.  But Saturn will probably be a second sun by then.

Quote
Or perhaps the laws of physics are different for Chines and they can just walk across the ocean to the US.

Nothing better than seeing two americans SCARED SHITLESS and babbling themselves into a bravado that they are OK and everything is fine and the Chinese will never overtake or outdo them....hahaahha

Invest your money in this...It will help you deal with the near future



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Kazan

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Re: China Stakes Claim to S. Texas Oil, Gas
« Reply #21 on: October 14, 2010, 08:21:07 AM »
Go fuck yourself, same stupid shit from the same stupid simian.
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Re: China Stakes Claim to S. Texas Oil, Gas
« Reply #22 on: October 14, 2010, 09:49:23 AM »
Like Kazan said, the Chinese will most likely contact Samson for helping rewriting the laws of physics, allowing them to usher in a new era of destructive weaponry.

Team SamsonEnterprises/Sorcha Faal!

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Re: China Stakes Claim to S. Texas Oil, Gas
« Reply #23 on: October 14, 2010, 10:46:07 AM »
Nothing better than seeing two americans SCARED SHITLESS and babbling themselves into a bravado that they are OK and everything is fine and the Chinese will never overtake or outdo them....hahaahha

Invest your money in this...It will help you deal with the near future




There is a second sun in my future.....  No need.


And another classic episode of dribble from the resident whack job.