ReconRat Posted October 11, 2010 Report Share Posted October 11, 2010 I think I understood when no American companies bid against China when they took over the major Iraqi oil fields. That was a political thing on an international scale.But this takes me by surprise. China has purchased a one third share of a major Texas oil field.$1.08 billion USDhttp://online.wsj.com/article/SB10001424052748703358504575544864133587350.htmlhttp://www.bloomberg.com/news/2010-10-11/cnooc-unit-to-pay-1-08-billion-in-cash-for-stake-in-gas-project.htmlhttp://www.nasdaq.com/aspx/stock-market-news-story.aspx?storyid=201010102157dowjonesdjonline000258&title=cnooc-to-buy-chesapeake-field-stake-for-11-billion Quote Link to comment Share on other sites More sharing options...
wht_scorpion Posted October 11, 2010 Report Share Posted October 11, 2010 We are just selling this country out Quote Link to comment Share on other sites More sharing options...
ReconRat Posted October 11, 2010 Author Report Share Posted October 11, 2010 Actually, I read that it's a shale oil project, and that the Chinese are trying to learn how to do that. China apparently has a lot of shale oil and they don't know how to get to it. So they are buying in for the experience.Good luck with that. The Siberian oil fields are still slowly being developed. It wouldn't have happened at all, if the Alaskan oil fields hadn't developed the cold weather technology. But with the Siberian fields, American oil companies went over there to help develop the fields. Quote Link to comment Share on other sites More sharing options...
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