The Obama administration is quietly allowing China to acquire major
ownership interests in oil and natural gas resources across the U.S. The
decision to allow China to compete for U.S. oil and natural gas
resources appears to stem from a need to keep Beijing economically
interested in lending to the U.S. The Obama administration has run
$1-trillion-plus annual federal budget deficits since taking office that
likely will continue in the second term.
Allowing China to have equity interests in U.S. energy production is a reversal of the Bush administration's policy. In 2005, the Bush administration blocked China on grounds of national security from an $18.4 billion deal to purchase California-based Unocal Corp.
As WND has reported, Beijing has been developing a proposal in which real estate on American soil owned by China would be set up as "development zones" to establish Chinese-owned businesses and bring in its citizens to the U.S. to work.
Allowing China to have equity interests in U.S. energy production is a reversal of the Bush administration's policy. In 2005, the Bush administration blocked China on grounds of national security from an $18.4 billion deal to purchase California-based Unocal Corp.
As WND has reported, Beijing has been developing a proposal in which real estate on American soil owned by China would be set up as "development zones" to establish Chinese-owned businesses and bring in its citizens to the U.S. to work.
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