Why we let an equivalent of a Chinese Crown corporation buy into the Canadian oil sands is lunacy. We've already sent our factories to Asia, and now we want an agent of the Commuist govt in Peking to buy our oil-which a crucial stratefigc resource in the 21st century. Tell CNOOC to buy some energy assets in Venzuela or Russia, oops they can't, they might be nationalised. Agents of the commies should only be allowed small mnority shares in companies. And they'll still buy because we have what they want.
Plus, there is no reciprocity, Canadian oil companies cannot buy Chinese energy assets in China. This deal is for the China suckers. It should not be allowed. You can't buy majority corporate assets in China. Screw'em.
http://www.calgaryherald.com/business/energy-resources/Obstacles+Canada+China+energy+investment+study/7098664/story.html
Plus, there is no reciprocity, Canadian oil companies cannot buy Chinese energy assets in China. This deal is for the China suckers. It should not be allowed. You can't buy majority corporate assets in China. Screw'em.
http://www.calgaryherald.com/business/energy-resources/Obstacles+Canada+China+energy+investment+study/7098664/story.html
Obstacles hit Canada-China energy investment, study says
Regulatory clarity will boost trade
By David Ljunggren, Reuters August 16, 2012
.sharebar .recomm {float:left;width:120px;}.sharebar .tweet {float:left;width:100px;}.sharebar .plusone {float:left;width:80px;}.sharebar .comment {float:left;width:120px;}.sharebar .pinitbutton {float:left;width:80px;}
Comment
2
The integrated Long Lake oilsands facility south of Fort McMurray is one of the assets CNOOC Ltd. will pick up if its $15.1-billion deal to buy Nexen Inc. is concluded.
Photograph by: Ed Kaiser , Ed Kaiser
Unclear investment rules are hampering trade between Canada and China, a study by officials from both countries said on Wednesday, just three weeks after CNOOC Ltd. offered $15.1 billion for Canada's Nexen Inc.
The bid from China's state-owned CNOOC - politically sensitive for Canada's Conservative government - is seen as a key test of whether Canada is open to foreign in-vestment as it seeks both to tap foreign funds to develop the Alberta tarsands, and to sell oil to China and elsewhere in Asia.
The government study of the economic interests and requirements of both countries said "certain obstacles" limited the ability of China and Canada to reap the full benefits of trade and investment in natural resources.
"Canadian and Chinese stakeholders have highlighted the need for increased regulatory clarity, efficiency and predictability in the context of direct investments in each other's countries," said the report.
"Resolution of these obstacles will be essential to improving market access and facilitating two-way trade and investment in the natural re-sources sector."
Critics have long complained that the rules Canada uses to determine whether to approve foreign takeovers are too opaque and the process is too secretive. Ottawa says Canadian resource firms are being unfairly restricted in China.
But the two countries also want to cooperate. Canadian Prime Minister Stephen Harper visited China in February and said the two nations would launch talks on further deepening trade ties.
China is Canada's second largest trading partner, albeit far behind the United States, while Canada is China's 13th most important trading partner.
"It is clear that there is huge untapped potential to increase trade between China and Canada," said the report.
Chinese energy firms are particularly interested in the Canadian oil and gas sector and have invested more than $7 billion in the last year alone. Alberta's oilsands are the world's third largest proven reserve of crude, and the Nexen bid is China's richest takeover to date.
"Over the coming decades, massive investments will be required to further develop Canada's natural resources potential. China's growing in-vestment interest in Canada's natural resources is adding to the diversity of domestic and foreign funding sources avail-able," said the report.
Ottawa says foreign investment in the energy patch could hit $500 billion over the next decade.
Ottawa must now decide whether CNOOC's bid for Nexen is of net benefit to Canada, the yardstick it used when it rejected BHP Billiton's bid for Potash Corp. in 2010.
Regulatory clarity will boost trade
By David Ljunggren, Reuters August 16, 2012
.sharebar .recomm {float:left;width:120px;}.sharebar .tweet {float:left;width:100px;}.sharebar .plusone {float:left;width:80px;}.sharebar .comment {float:left;width:120px;}.sharebar .pinitbutton {float:left;width:80px;}
Comment
2
- Story
- Photos ( 1 )
The integrated Long Lake oilsands facility south of Fort McMurray is one of the assets CNOOC Ltd. will pick up if its $15.1-billion deal to buy Nexen Inc. is concluded.
Photograph by: Ed Kaiser , Ed Kaiser
Unclear investment rules are hampering trade between Canada and China, a study by officials from both countries said on Wednesday, just three weeks after CNOOC Ltd. offered $15.1 billion for Canada's Nexen Inc.
The bid from China's state-owned CNOOC - politically sensitive for Canada's Conservative government - is seen as a key test of whether Canada is open to foreign in-vestment as it seeks both to tap foreign funds to develop the Alberta tarsands, and to sell oil to China and elsewhere in Asia.
The government study of the economic interests and requirements of both countries said "certain obstacles" limited the ability of China and Canada to reap the full benefits of trade and investment in natural resources.
"Canadian and Chinese stakeholders have highlighted the need for increased regulatory clarity, efficiency and predictability in the context of direct investments in each other's countries," said the report.
"Resolution of these obstacles will be essential to improving market access and facilitating two-way trade and investment in the natural re-sources sector."
Critics have long complained that the rules Canada uses to determine whether to approve foreign takeovers are too opaque and the process is too secretive. Ottawa says Canadian resource firms are being unfairly restricted in China.
But the two countries also want to cooperate. Canadian Prime Minister Stephen Harper visited China in February and said the two nations would launch talks on further deepening trade ties.
China is Canada's second largest trading partner, albeit far behind the United States, while Canada is China's 13th most important trading partner.
"It is clear that there is huge untapped potential to increase trade between China and Canada," said the report.
Chinese energy firms are particularly interested in the Canadian oil and gas sector and have invested more than $7 billion in the last year alone. Alberta's oilsands are the world's third largest proven reserve of crude, and the Nexen bid is China's richest takeover to date.
"Over the coming decades, massive investments will be required to further develop Canada's natural resources potential. China's growing in-vestment interest in Canada's natural resources is adding to the diversity of domestic and foreign funding sources avail-able," said the report.
Ottawa says foreign investment in the energy patch could hit $500 billion over the next decade.
Ottawa must now decide whether CNOOC's bid for Nexen is of net benefit to Canada, the yardstick it used when it rejected BHP Billiton's bid for Potash Corp. in 2010.