China Just Made A Huge Investment In The American Energy Source

[sasha031]

China National Offshore Oil Company just bought a huge stake in an American shale oil project, according to China Daily.The deal, valued at $570 million, will see China buy a third of Chesapeake Energy Corporation's Niobrara Shale project.


The Niobrara Shale formation stretches over Colorado and Wyoming, as well as Kansas and Nebraska. Chesapeake Energy's position is in Wyoming and Colorado. If Chesapeake find any more oil in this region, CNOOC has the rights to 33.3% of what is found.

Read more: http://www.businessinsider.com/china-cnooc-investment-niobrara-shale-2011-2#ixzz1JBJcm5cn

[MadHound]

1. So much for domestic energy independence

Now we're going to destroy the land so that China can use the resources.

Disgusting, absolutely disgusting.

[sasha031]

2. that's what is about capitalism on steroids

[haikugal]

4. Thanks to Cheney and his secret meeting....

this is looking really bad for the future.

[Old and In the Way]

3. It's a "Going Out of Business' sale.

Everything 1/2 off! Make an Offer! I'm thinking that this is part of a deal to take back dollars at a discount, to keep China from dumping dollars on the open market.

[sasha031]

5. friend just tweeted

That is just ONE of China's investments in American Shale Gas. Chesapeake has sold BILLIONS to CNOOC

[upi402]

6. the corporatists let the communists beat us in capitalism

Lenin: Capitalists will sell the rope with which communists will hang them.

[glinda]

7. Is this the payoff? Our environment for their survival and the rich getting richer?