China's buying up Texas Oil Now !!!

http://www.mysanantonio.com/business/local/China_stakes_claim_to_S_Texas_oil_gas_104753969.html?c=y&page=2

That all we need to do is sale our oil to China so we still have to buy the oil back from them.THAT THE REASON WE ARE IN THIS SHAPE NOW.Well I guess we will be buying China gas along with everything ealse you buy now days.Keep this up we might as well call the this the United States of China not the United States Of America.



Jim

I read the whole article and it looks as though Cheaspeake doesn't have any cash to actually finance any drilling on their own leased properties. They need cash flow. This deal was probably not in any way secret and if you have zero investors locally or nationally as a company to survive they needed cash flow. Cheaspeake will actually do the drilling and operating of the wells which will actually create jobs in Texas and like it said no oil or gas will actually leave the country. Up here in Canada this has been the norm for 50-60 years except we have/had mostly US companies financing the drilling and quess what the oil & gas does not stay in this country but is shipped via pipeline to guess where ?? Chigaco USA. I work in the oilfield and this type of thing happens all the time, it is just not in any newspapers. It goes on more often than anyone thinks with so many different partners from all over the world, just the nature of the beast. You guys would be surprised if you could see all the partners that are on wells and were they are all from. Just because so & so oil company drills the well many companys can have a stake in it. Up in Canada we have many foriegn investors. JACOS(Japan), Taka North(Saudi's) Statoil(Norweign), PetroFina(French), BP(British), BG(British), the of course all the US investors. If you got the cash you can go drilling anywhere in the world LOL.

Later Mark

^^^Good post.^^^