China buys into Texas Oil

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  #1  
Old 06-21-2011, 10:23 AM
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Default China buys into Texas Oil

I'm not sure how I feel about this. Is this good for America?

http://www.mysanantonio.com/business...gas-858329.php
  #2  
Old 06-21-2011, 11:36 AM
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If all they're really interested in is "gaining the know-how" to drill into these deposits, I don't have a problem with the deal. It's like they're buying their way into an apprenticeship, only on a corporate scale.

If, however, the purpose is to drain capital back to China or, worse yet, export some of the oil & gas to China, then, *no* *bleeping* *way*.
  #3  
Old 06-21-2011, 11:49 AM
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Quote:
Originally Posted by djplong View Post
If all they're really interested in is "gaining the know-how" to drill into these deposits, I don't have a problem with the deal. It's like they're buying their way into an apprenticeship, only on a corporate scale.

If, however, the purpose is to drain capital back to China or, worse yet, export some of the oil & gas to China, then, *no* *bleeping* *way*.
I absolutely agree. I'm not sure of China's intentions regarding this investment and I'm leery of foreign investment, and maybe some control, of a vital strategic resource. This story did not make it clear to me what the ultimate payoff expected by China is.
  #4  
Old 06-21-2011, 01:07 PM
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The WSJ carried this article and as I recollect some express concern at this prospect. I am as uncomfortable with china drilling our oil as I am about nestle pulling 500,000 gallons of water a day from our water sources. Abundant or lack thereof of natural resources define prosperity.
  #5  
Old 06-21-2011, 04:53 PM
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Default How Can You Say...

....the free market system is effective and the fundamental reason why our economy grew so effectively for a couple hundred years, then say that those doggone Chinese shouldn't be able to come into our country and buy both natural resources and expertise that Americans are selling to make a profit?

I don't think you can have it both ways. Their managed economy is leaving our profit-driven capitalistic system in it's dust. Now they have the capital, the desire and the plans to continue to grow their economy and improve the standard of living for all Chinese. Does this sound familiar? Isn't this how we acted for decade after decade? The rest of the world didn't like it...or us...any more than we're now feeling about China.

Get used to it. I don't see anything on our political, economic, social or cultural horizon that's going to change this pattern. If you do, tell us what it is? Please don't tell us that if we lower taxes and make government smaller everything will work out. The Chinese are in the process of proving that formula to be badly faulted.
  #6  
Old 06-21-2011, 04:56 PM
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Gee, Richie, what does Gov. Rick Perry say about the ungodly Chinese buying into Texas?
  #7  
Old 06-21-2011, 05:58 PM
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Quote:
Originally Posted by Tbugs View Post
Gee, Richie, what does Gov. Rick Perry say about the ungodly Chinese buying into Texas?
Never said I was against it. I'm only questioning a foreign power having an interest in our own strategic resources.

Sometimes on this forum I'm totally surprised by the lack of insight into the heart of the issue being discussed. How about if I say "never mind".
 

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