Selling the Future — to the banksters?

PB: China corporation CNOOC buys the oil interests in N. America, and who will buy them eventually?


Selling the Future

Email July 27, 2012
Future oriented societies are planning for their future needs. Dying societies sell their children’s future for peanuts. This table summaries the expansion of the China National Offshore Oil Corp. in North America. [I have added some extra information in square brackets.]
Americans and Australians also are engaged in what the Canadians are allowing herebelow.
Table: “CNOOC Acquisitions and Investments in North America”, in New York Times, July 24, 2012. p. B7.
UNOCAL (June 2005) (USA); oil and natural gas: $19.5 billion: withdrawn.
Nexen (July 2012) (Canada); major role in the Long Lakes oil sands project, Alberta; oil and natural gas operations in Colombia, Gulf of Mexico, North Sea, offshore West Africa [Nigeria], western Canada, Yemen; shale gas production in western Canada; shale gas exploration in Colombia and Poland: $17.6 billion: pending.
OPTI Canada (July 2012) (Canada); Nexen’s bankrupt partner in the Long Lake oil sands project, Alberta: $1.1 billion: complete.
Chesapeake Energy (October 2010) (USA); natural gas: $0.570 billion for one-third stake in certain Texas oil and gas assets: complete.
MEG Energy (March 2005) (USA); [major project is the Christina Lake oil sands project, Alberta]: $0.125 billion [to acquire a 16.69% stake]: complete.
Chesapeake Energy (January 2011) (USA): value undisclosed for an option to acquire one-third stke on Colorado and Wyoming assets: complete.
Northern Cross (Yukon) Ltd. (June 2011) (Canada); oil and gas production and exploration in the Yukon: value undisclosed [to acquire a 60% stake]: complete.
Statoil-Hydro (November 2009) (USA); oil and natural gas: value undisclosed [for acquisition of 20% stake in Tucker Oilfield and a 10% stake in Logan, 10% in Cobra in the Alaminos Canyon and 10% in Krakatoa all in the Gulf of Mexico]: complete.
In addition, when they invest, they rule, here is the board of directors of the Northern Cross (Yukon) Ltd. oil and gas company. (Who knew the Chinese Communists dominate the Yukon energy sector?)
Board of Directors. Northern Cross (Yukon) Ltd. (, 2012.
Zhang Fenjiu: Chairman of the Board from CNOOC Canada Ltd.
Cui Hanyun: Director from CNOOC Ltd.
Chen Zhen: Director from CNOOC Canada Ltd.
Liu Kuang: Director from CNOOC Canada Ltd. >David Thompson: CEO and Director: Mechanical Engineering graduate from Queen’s University with over 30 years’ experience in the oil and gas industry as well as the renewable energy and clean tech industries, and founding shareholder of Northern Cross (Yukon) Limited.
Richard Wyman: President and Director: Chemical Engineering graduate from Queen’s University and co-founder of Northern Cross (Yukon) Limited. Over 30 years of operating and capital market experience in the Canadian oil and gas industry.
Michael Chernoff: Director: Exploration geologist with experience in all aspects of the oil and gas industry (including Eagle Plain Basin); formerly Director of Encana and AEC; Chairman and founder Pacalta Resources; Director of Canadian Hydro Developers and MGM Energy.

By piotrbein