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  • Wall Street Breakfast: Must-Know News [View article]
    "CNOOC eyes large Nigeria stake. Sources say Chinese state-owned oil company CNOOC (CEO) is in talks with Nigeria to buy a large stake in some of Africa's richest oil blocks, at a possible value of $30B."

    Great! They are welcome to it. For too long China has gotten a free ride internationally, with foreign ire directed at US companies and citizens. Speaking as a former military attache, let the Chinese, with few resources of their own, deal with the kleptocrats in Burma, Nigeria, Sudan et al.

    Add to massive Canadian oil and US natural gas the recent finds offshore Brazil, the probability that impending bankruptcy will make Mexico's PemEx more willing to share oil in exchange for technology and skill, and the probability that Venezuela's Chavez, having proven himself to be just another bag of empty hot air and will soon be gone, and this hemisphere will have enough oil, gas and coal to watch from the sidelines as China learns what its like to depend upon distant nations for its essential energy. Dare to dream...
    Sep 29 11:09 am |Rating: +1 0 |Link to Comment
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