China buys Texas

[WhiteyMacD]

I thought they helped purchase the oil leases and pay for some of extraction costs... whats this about actually buying land? Last I checked it is illegal for other governments to purchase property within the US. Only businesses, separate of the government, and foreign nationals can do that.

 

[LightningCrash]

China listened to Friedman... we did not.

 

[Nraman]

capitalism ftw? I guess the free market system only works with isolationism....

I would say that the free market would work for us with rules that are beneficial to us. Countries that manipulate their currency, use child labor, prison labor, no environmental handicaps and extremely low wages are not the kind of trading partners we need. We don't need "free" trade with countries that are potential adversaries and will use our money and technology against us or use dumping to destroy our industries.
Can't just open up the doors to our economy and country to one sided deals or deals that will hurt us in the long run.

 

[inactive]

China listened to Friedman... we did not.

Currently, we are listening to Krugman

 

[Shadowrider]

I thought they helped purchase the oil leases and pay for some of extraction costs... whats this about actually buying land? Last I checked it is illegal for other governments to purchase property within the US. Only businesses, separate of the government, and foreign nationals can do that.

They are only buying leasehold interest to the oil and gas and partnering up with the operators. They aren't buying the actual land.

Y'all chill out. Do you really think that Texas of all states would stand for this? Think people, think!

Edit to add:
This is the disturbing part of the deal. From the article:

The deal represents China’s second try at making a big move into the U.S. oil and gas market, following a failed bid five years ago to buy California-based Unocal Corp.
Intense political opposition over energy security concerns derailed that $18.4 billion deal. But analysts expect few political or regulatory hurdles to the CNOOC-Chesapeake deal.

What's disturbing is the utter lack of political opposition to the whole concept. Instead we have an administration that is more than willing to hand over whatever and the drilling technology that they will undoubtedly gain knowledge of. There goes the U.S. as being a leader in another technological field. We can thank Bill Clinton for letting them have access to satellite guidance software that they've reverse engineered to guide their ICBMs. Democrats are retarded....

 

[donner]

Think people, think!

you ask a lot of people around here.

 

[sigsilly]

Obama and Clinton granted eminent domain to the Chinese in case the US defaults in debt to the Chinese.

http://patriotsforamerica.ning.com/profiles/blogs/feds-grant-eminent-domain-as

February 26, 2009

FEDS GRANT EMINENT DOMAIN AS COLLATERAL TO CHINA FOR U.S. DEBTS!
Beijing, China -- Sources at the United States Embassy in Beijing China have just CONFIRMED to me that the United States of America has tendered to China a written agreement which grants to the People's Republic of China, an option to exercise Eminent Domain within the USA, as collateral for China's con More..tinued purchase of US Treasury Notes and existing US Currency reserves!

The written agreement was brought to Beijing by Secretary of State Hillary Clinton and was formalized and agreed-to during her recent trip to China.

This means that in the event the US Government defaults on its financial obligations to China, the Communist Government of China would be permitted to physically take -- inside the USA -- land, buildings, factories, perhaps even entire cities - to satisfy the financial obligations of the US government.....

 

[ignerntbend]

They are only buy leasehold interest to the oil and gas and partnering up with the operators. They aren't buying the actual land.

Y'all chill out. Do you really think that Texas of all states would stand for this? Think people, think!

This is true. They're buying a one third share of the mineral rights. Folks down there seem to be pleased with the deal.
600,000 acres isn't even that big a piece of ground.

 

[Shadowrider]

you ask a lot of people around here.

Well you do have a point there...

 

[Nraman]

They are only buying leasehold interest to the oil and gas and partnering up with the operators. They aren't buying the actual land.

Y'all chill out. Do you really think that Texas of all states would stand for this? Think people, think!

Edit to add:
This is the disturbing part of the deal. From the article:

The deal represents China’s second try at making a big move into the U.S. oil and gas market, following a failed bid five years ago to buy California-based Unocal Corp.
Intense political opposition over energy security concerns derailed that $18.4 billion deal. But analysts expect few political or regulatory hurdles to the CNOOC-Chesapeake deal.

What's disturbing is the utter lack of political opposition to the whole concept. Instead we have an administration that is more than willing to hand over whatever and the drilling technology that they will undoubtedly gain knowledge of. There goes the U.S. as being a leader in another technological field. We can thank Bill Clinton for letting them have access to satellite guidance software that they've reverse engineered to guide their ICBMs. Democrats are retarded....

You are absolutely correct!
I read in an article that part of the reason was the technology they will gain.