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China-Canada oil deal raises political hackles in Washington

Reuters Canada -- WASHINGTON (Reuters) - The U.S. government should block a bid by China's state oil company CNOOC for Canadian oil company Nexen until China's government provides fair access for U.S. companies that want to invest in China, a top Democratic senator plans to tell Treasury Secretary Timothy Geithner on Friday.

In a draft letter obtained by Reuters, Charles Schumer, the Senate's No. 3 Democrat and a frequent critic of China's trade and currency policy, said the powerful Committee on Foreign Investment in the United States should not approve the deal until China makes "tangible, enforceable commitments" on market access for U.S. companies.

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Submitted Jul 27, 2012 By: CdnLynx

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honda0105 Champion Author Tallahassee Posts:18,643 Points:1,611,470 Joined:Nov 2008	Message Posted: Aug 1, 2012 12:53:55 AM Ignore honda0105 Report Abuse iag: well, not quite. Nexen does own some property to drill that is on US soil.
iagdboy Champion Author Albany Posts:1,206 Points:499,425 Joined:Jun 2011	Message Posted: Jul 31, 2012 4:54:09 PM Ignore iagdboy Report Abuse none of our business
StationGF Sophomore Author Chicago Posts:121 Points:35,470 Joined:Jun 2012	Message Posted: Jul 31, 2012 4:42:58 PM Ignore StationGF Report Abuse US Congress, the legislative branch of the US gov't and Canada,....
rumbleseat Champion Author Winnipeg Posts:22,938 Points:3,532,240 Joined:Oct 2002	Message Posted: Jul 31, 2012 12:01:15 AM Ignore rumbleseat Report Abuse I repeat, the US doesn't have any say in this. For one thing, the US has never had a problem allowing American investments to take over assets in pretty much any country in the world. This is not an American investment, it is a Chinese investment, and I quite imaging the American government and the American citizenry would be outraged (justifiably so) if the Chinese government talked of blocking American investment in Canada, or Brazil, or any other country in the world. Charles Schumer needs to be handed a map, an atlas, an encyclopaedia, and a globe, and told to study some geography, because he obviously has no idea where the borders of his own country are! However, I do not believe this deal is in the best interests of Canada and Canadians. CNOOC is a state-owned entity, and China is a Communist country. I hope the Canadian government will see it isn't in our best interest to allow what amounts to nationalization of part of our oil industry by a Communist power. [Edited by: rumbleseat at 7/31/2012 6:05:24 AM EST]
honda0105 Champion Author Tallahassee Posts:18,643 Points:1,611,470 Joined:Nov 2008	Message Posted: Jul 30, 2012 11:46:03 PM Ignore honda0105 Report Abuse ah yea... Canada says to not jump to conclusions. Hmmmm.
honda0105 Champion Author Tallahassee Posts:18,643 Points:1,611,470 Joined:Nov 2008	Message Posted: Jul 29, 2012 11:47:20 PM Ignore honda0105 Report Abuse wait, Nexen is a Canadian company, how can the US block the deal to start with? As for China, it's buying anything it can. The US taught its unintended protege well.
goldrose1 Champion Author Cleveland Posts:10,956 Points:1,927,755 Joined:Feb 2005	Message Posted: Jul 28, 2012 7:02:09 PM Ignore goldrose1 Report Abuse So much hot air.
mountainrider7 Sophomore Author New York Posts:208 Points:149,165 Joined:Mar 2012	Message Posted: Jul 28, 2012 2:31:27 AM Ignore mountainrider7 Report Abuse Blah...
SparkieMi Champion Author Kalamazoo Posts:3,277 Points:591,330 Joined:Sep 2011	Message Posted: Jul 27, 2012 8:58:53 PM Ignore SparkieMi Report Abuse Many good posts!!!!
CdnLynx Champion Author Ontario Posts:1,024 Points:525,835 Joined:May 2008	Message Posted: Jul 27, 2012 7:10:15 PM Ignore CdnLynx Report Abuse for LostToo and any others that missed my original inadvertent miss-Que. There are provisions The U.S. government should block a bid by China's state oil company CNOOC for Canadian oil company Nexen until China's government provides fair access for U.S. companies that want to invest in China, a top Democratic senator plans to tell Treasury Secretary Timothy Geithner on Friday. In a draft letter obtained by Reuters, Charles Schumer, the Senate's No. 3 Democrat and a frequent critic of China's trade and currency policy, said the powerful Committee on Foreign Investment in the United States should not approve the deal until China makes "tangible, enforceable commitments" on market access for U.S. companies.
LostToo Champion Author Illinois Posts:4,392 Points:975,315 Joined:May 2009	Message Posted: Jul 27, 2012 6:54:00 PM Ignore LostToo Report Abuse I must have read this wrong... What the hell does the USA have any say over a oil deal between China and Canada? We had our chance and Oboma screwed us out of that pipeline. Now that those democrats dropped the ball they want another chance. I don't think it works that way. The Canada boss warned us. I guess The Oboma crowd thought he was kidding. NOPE! NO Mulligans in big oil.
kgbellman Champion Author Ann Arbor Posts:2,728 Points:734,765 Joined:Mar 2011	Message Posted: Jul 27, 2012 6:34:33 PM Ignore kgbellman Report Abuse Of course they will deal with whomever has oil.
CdnLynx Champion Author Ontario Posts:1,024 Points:525,835 Joined:May 2008	Message Posted: Jul 27, 2012 6:30:11 PM Ignore CdnLynx Report Abuse For the people complaining of old news or that they saw the same story. Your picked up the same story, it was always here. Do you pick up old news papers and re-read the same article then blame others. Hint, wait till there is a new story, or a new day with a newer newspaper edition! Unbelievable, don't read old stories then complain they're old. Your the one in control!
camaro_man Champion Author Kitchener-Waterloo Posts:2,242 Points:612,995 Joined:Jun 2010	Message Posted: Jul 27, 2012 6:26:16 PM Ignore camaro_man Report Abuse ow
Zonk Champion Author Michigan Posts:6,496 Points:2,104,940 Joined:Oct 2005	Message Posted: Jul 27, 2012 6:25:15 PM Ignore Zonk Report Abuse If obama would approve the pipeline, this will not become an issue.
tedjm1 Champion Author New York Posts:5,609 Points:800,300 Joined:Dec 2006	Message Posted: Jul 27, 2012 6:24:13 PM Ignore tedjm1 Report Abuse The US is falling far behind the rest of the world.
captain013 Champion Author Maryland Posts:2,024 Points:460,605 Joined:Sep 2011	Message Posted: Jul 27, 2012 6:23:47 PM Ignore captain013 Report Abuse Dont think US is in any position to demand anything from China since they own much of our obligations and have capital to spend.
Toppers Champion Author Atlanta Posts:9,022 Points:2,472,645 Joined:Mar 2005	Message Posted: Jul 27, 2012 6:23:43 PM Ignore Toppers Report Abuse We asked for it...
BoerneWatch Champion Author San Antonio Posts:15,557 Points:2,456,865 Joined:Oct 2005	Message Posted: Jul 27, 2012 6:22:56 PM Ignore BoerneWatch Report Abuse The Dems shut down the pipeline deal and now they are mad that Canada is working with China?
CdnLynx Champion Author Ontario Posts:1,024 Points:525,835 Joined:May 2008	Message Posted: Jul 27, 2012 6:22:37 PM Ignore CdnLynx Report Abuse I swear, at times it feels like I'm dealing with village idiots; squabbling over toys in a sad box; same old rhetoric is posted over and over, blaming the president, or the pipeline etc. No one is focusing on the real problem, that exists everywhere on the planet. Large corporations, many multinational and in some case state sponsored/assisted in the purchasing of other companies. At one time this was the realm of American corporations buying up smaller companies around the world. They were a world wide example of how the economies of the rich worked. In short they were learning capitalism, (capitalism is not meant as a bad world) but a reality. Others corporations/countries have garnered great wealth over the last while and now they have the power and the will, to wield power in the vary same way. This little mouse has the control over its natural resources and not any other foreign or otherwise controlled company. The same exists for all sovereign states, they control their resources and not any company/corp.
ican2step Champion Author Pittsburgh Posts:1,696 Points:430,325 Joined:Feb 2012	Message Posted: Jul 27, 2012 6:19:41 PM Ignore ican2step Report Abuse The Chinese government has scared me for years.
rahcat Champion Author Grand Rapids Posts:2,483 Points:665,125 Joined:Jan 2010	Message Posted: Jul 27, 2012 6:19:19 PM Ignore rahcat Report Abuse China just can't wait to cut our throats.
crreed1 Champion Author West Virginia Posts:2,000 Points:2,529,260 Joined:May 2005	Message Posted: Jul 27, 2012 6:17:21 PM Ignore crreed1 Report Abuse old news
LanguageMan1 Champion Author Tampa Posts:11,733 Points:1,663,740 Joined:Apr 2008	Message Posted: Jul 27, 2012 6:16:51 PM Ignore LanguageMan1 Report Abuse I'm just about in favor of it, but it's Canada and China, not the US and China that made this deal, and if anything, maybe we should have made a good bid for the oil and oil company.
big_mac64 Champion Author Tennessee Posts:10,593 Points:1,485,690 Joined:May 2005	Message Posted: Jul 27, 2012 6:14:14 PM Ignore big_mac64 Report Abuse already saw this story
jethro5000 Champion Author Kentucky Posts:1,892 Points:393,560 Joined:Jun 2005	Message Posted: Jul 27, 2012 6:12:33 PM Ignore jethro5000 Report Abuse ???
Bigwaynef Champion Author South Carolina Posts:11,495 Points:2,083,685 Joined:Dec 2006	Message Posted: Jul 27, 2012 6:10:57 PM Ignore Bigwaynef Report Abuse If it's any country OTHER than the US, Obamama is for it!
d_clark All-Star Author Grand Rapids Posts:925 Points:382,390 Joined:Mar 2005	Message Posted: Jul 27, 2012 6:09:23 PM Ignore d_clark Report Abuse Not sure why the US would approve any deal with China and Canada
FlyNFool Champion Author South Carolina Posts:8,254 Points:1,687,900 Joined:Aug 2008	Message Posted: Jul 27, 2012 6:09:07 PM Ignore FlyNFool Report Abuse oh no
humblepie Champion Author Toledo Posts:34,304 Points:2,373,320 Joined:Mar 2006	Message Posted: Jul 27, 2012 6:08:10 PM Ignore humblepie Report Abuse none of america's business, we had our shot and obama blew it
ManOfLeisureII Champion Author Philadelphia Posts:1,889 Points:456,325 Joined:Jan 2012	Message Posted: Jul 27, 2012 6:07:19 PM Ignore ManOfLeisureII Report Abuse Build Keystone
Blue_Cruzer Champion Author Lexington Posts:7,530 Points:1,671,535 Joined:Mar 2007	Message Posted: Jul 27, 2012 6:06:55 PM Ignore Blue_Cruzer Report Abuse Money talks!
ggg452 Champion Author Manitoba Posts:1,580 Points:333,775 Joined:May 2012	Message Posted: Jul 27, 2012 6:06:10 PM Ignore ggg452 Report Abuse Just the normal course of world business and politics....no sense looking for a villan in it.
CdnLynx Champion Author Ontario Posts:1,024 Points:525,835 Joined:May 2008	Message Posted: Jul 27, 2012 6:05:09 PM Ignore CdnLynx Report Abuse At this article only goes back 4 pages, reiteration of previous comments. This is about China, wanting to maximize profit, they want more money; in that way, this communist country wants to play capitalist. They are raking in the money from contracts around the world; they manufacture their products, that show up en mass around the world. Canada as a small nation, wants to have control over it's manufacturing, natural resources, whether it be mining, oil, forestry and manufacturing. It becomes worrisome when major players in other foreign lands take notice of your country and starts to purchase companies to the point where all Canadian identity is absorbed by foreign interests. This has been happening for a very long time; steel, potash, mining (Inco); long before America took any interest; long before the Keystone XL pipeline. This was going on long before Obama. So, Obama, or the pipeline is and was never the problem. This is about other countries seeing the opportunity to make profit at the expense of Canada and the Canadian identity. Aviator Rob, your position is astounding; it has noting to do with Canada not being fair with America. For the longest time America was the only elephant in bed with the Canadian mouse. Now there is a whole herd of elephants, that want in bed with Canada, and that bed is very small. The little maple mouse, is not faring that well, with that many elephants trumpeting & stampeding in that small bed. America controls it resources no matter what corporation owns it, foreign or otherwise; same with Canada, our resources are Canadian, whether its mined, or tapped by any company (Canadian or not). So if Nexen is owned by a Chinese company, its a win for them; no matter where we ship Canadian oil, as they will profit, if we use our oil domestically or ship it anywhere in the world. I would like to add this is not a unique problem. This is a worldwide problem, not only a Canadian problem. Large corporations with deep pockets; some cases possibly funded by their country of origin, purchase smaller companies. This makes for powerful worldwide conglomerates that is some cases are far more powerful, influential then the populace of the countries they maybe operating in. This is happening on all continents and with countries far smaller then Canada; the African continent comes to mind; with mining and oil (diamonds, gold, oil). This is also happening in large countries, they sometimes lose their national corporations with outside interests purchasing controlling stake etc. This is business and yes it is capitalism and sometimes we get burnt and it hurts like he$$. As a Canadian, I don't want to lose any Canadian identity; no different then an American wanting to lose any of their identity. So America don't take this personally as Canada sticking it to America. This has been and is business and its been happening for a very long time. Focus! Focus on the proper things. Not your President or your political parties or the keystone pipeline. This has been going on long before the pipeline. Obama or the pipeline are not the problem! This is about large corporations with deep pockets buying up the neighborhood to make more profit and to control the playground. Some of these corporations are richer then some countries they operate in. Africa in point. No matter who owns Nexen oil, the resources remain with Canada and it is Canada decision of where the oil is processed, shipped. the resources belong to the country. No different then America, or any other country. Your getting to bent out of shape and not focusing. Your running around blaming your president etc. This has been going on for quite some time and not just in Canada, earlier this year China purchased AMC movie corporation. China has an abundance of ready capital, burning holes in their pockets and they are buying.
carman11 Champion Author North Carolina Posts:3,353 Points:694,650 Joined:Jun 2011	Message Posted: Jul 27, 2012 6:05:04 PM Ignore carman11 Report Abuse Ok
keithyoon1977 Champion Author Virginia Posts:1,924 Points:497,665 Joined:Dec 2011	Message Posted: Jul 27, 2012 6:03:41 PM Ignore keithyoon1977 Report Abuse ok
TonyPSU Champion Author Cleveland Posts:2,546 Points:696,480 Joined:May 2011	Message Posted: Jul 27, 2012 6:02:05 PM Ignore TonyPSU Report Abuse BO screwed up again
umitb Champion Author Indianapolis Posts:3,686 Points:845,390 Joined:Apr 2010	Message Posted: Jul 27, 2012 6:01:46 PM Ignore umitb Report Abuse ok
1fulltank Champion Author Buffalo Posts:7,918 Points:1,547,235 Joined:Nov 2008	Message Posted: Jul 27, 2012 5:59:24 PM Ignore 1fulltank Report Abuse Do something besides whine.
CdnLynx Champion Author Ontario Posts:1,024 Points:525,835 Joined:May 2008	Message Posted: Jul 27, 2012 5:57:46 PM Ignore CdnLynx Report Abuse No matter who owns Nexen oil, the resources remain with Canada and it is Canada decision of where the oil is processed, shipped. the resources belong to the country. No different then America, or any other country. Your getting to bent out of shape and not focusing. Your running around blaming your president etc. This has been going on for quite some time and not just in Canada, earlier this year China purchased AMC movie corporation. China has an abundance of ready capital, burning holes in their pockets and they are buying. Chinese company buys U.S. movie theater chain AMC for $2.6bn in largest ever takeover deal
jayrad1957 Champion Author Los Angeles Posts:19,668 Points:1,599,440 Joined:Nov 2008	Message Posted: Jul 27, 2012 5:57:18 PM Ignore jayrad1957 Report Abuse Another excuse to bash Obama.
Glock26 Champion Author Dayton Posts:1,534 Points:634,335 Joined:Mar 2011	Message Posted: Jul 27, 2012 5:54:27 PM Ignore Glock26 Report Abuse Should have supported the Keystone pipeline.
WIWalt Champion Author Wisconsin Posts:1,741 Points:418,470 Joined:Mar 2012	Message Posted: Jul 27, 2012 5:52:41 PM Ignore WIWalt Report Abuse ok
Mustache_33 All-Star Author Toronto Posts:900 Points:181,455 Joined:May 2012	Message Posted: Jul 27, 2012 5:48:48 PM Ignore Mustache_33 Report Abuse hmm
mstearno Champion Author Dayton Posts:8,080 Points:1,734,140 Joined:Jan 2008	Message Posted: Jul 27, 2012 5:48:29 PM Ignore mstearno Report Abuse CdnLynx is partially correct where he's missed the boat is if we had agreed on the pipeline initially China would not have bought them... SO yes THANK YOU NOBAMA
CAroadrunner101 Champion Author California Posts:1,837 Points:1,318,125 Joined:Mar 2009	Message Posted: Jul 27, 2012 5:47:38 PM Ignore CAroadrunner101 Report Abuse so...
FunMyster All-Star Author Indiana Posts:907 Points:73,215 Joined:Jul 2011	Message Posted: Jul 27, 2012 5:46:18 PM Ignore FunMyster Report Abuse ok
CdnLynx Champion Author Ontario Posts:1,024 Points:525,835 Joined:May 2008	Message Posted: Jul 27, 2012 5:44:18 PM Ignore CdnLynx Report Abuse No matter who owns Nexen oil, the resources remain with Canada and it is Canada decision of where the oil is processed, shipped. the resources belong to the country. No different then America, or any other country. Your getting to bent out of shape and not focusing. Your running around blaming your president etc. This has been going on for a while, for instance The following was posted by the Daily Mail on 21 May 2012 [L=http://www.dailymail.co.uk/news/article-2147569/Movie-theater-AMC-bought-Chinese-company-Dalian-Wanda-Group-2-6bn.htmlhttp://]Chinese company buys U.S. movie theater chain AMC for $2.6bn in largest ever takeover deal AMC is America's second biggest theater chain Dalian Wanda Group, who are based in Beijing, said headquarters will remain in Kansas City and 18,500 employees will keep their jobs Chinese investment set to create more 3-D and IMAX cinemas in U.S. Read more: http://www.dailymail.co.uk/news/article-2147569/text deleted/L]
paulydel Champion Author Delaware Posts:8,799 Points:848,800 Joined:Jan 2008	Message Posted: Jul 27, 2012 5:41:00 PM Ignore paulydel Report Abuse Thank you idiot and chief for not supporting the Keystone pipeline.
knot2swift Champion Author Calgary Posts:4,398 Points:699,905 Joined:Nov 2009	Message Posted: Jul 27, 2012 5:39:47 PM Ignore knot2swift Report Abuse Actually Beachmanglen...We in Canada were thinking of taking over California while the US was busy with Iraq. Nothing like taking over a loser state that has real nice warm winters for our old folks. [Edited by: knot2swift at 7/27/2012 11:43:24 PM EST]