China has spent $75 billion on oil acquisitions in the last 5 years....A MUST READ!

AFTER READING AND THINKING ABOUT THIS FOR JUST A SHORT PERIOD OF TIME YOU WILL UNDERSTAND WHY OIL PRICES MOVING LOWER FOR THE SHORT TERM BECAUSE OF A WEAK GLOBAL ECONOMY WON'T MEAN THEY WILL STAY LOWER IN THE LONG TERM.

China has spent $75 billion on oil acquisitions in the last 5 years

With approximately $1.5 trillion dollars on hand, China can afford a blank-check policy when it comes to snapping up worldwide energy deposits.

Since 2005, China has closed no fewer than 45 deals in the oil sector alone.

Thirty-two of these were each worth at least $500 million, and eight carried price tags of $3 billion or more.  

TAKE A LOOK AT THIS LIST;

Date	Company	Deal	Ownership stake	Value (US$ B)
Nov11	Sinopec	Stake in Brazilian unit of Portugal's Galp Energia	30%	5.2
Oct11	CNOOC	Stake in Opti Canada's Long Lake oil sands project	100%	2.1
Oct11	Sinopec	Offer to acquire Canadian oil and gas firm, Daylight Energy	100%	2.1
Dec10	Sinopec	Stake in Chevron's Gendalo-Gehem deep water gas project in Indonesia	18%	0.68
Nov10	CNOOC	Stake in Pan American Energy from BP	60%	2.5
Nov10	CNOOC	Stake in Chesapeake's 600,000 net acres in the Eagle Ford Shale	33%	2.2
Oct10	CNOOC	Stake in Tullow Oil's interest in 3 blocks in Uganda (JV with Total)	67%	> 1
Oct10	Sinopec	Stake in Brazilian subsidiary of Spanish oil company Repsol	40%	7.1
May10	CIC	Stake in Canada's Penn West Energy Trust's bitumen assets near Peace River	45%	0.8
May10	CNPC	Stake in Shell's subsidiary, Syria Petroleum Development BV	35%	1.2-1.5
May10	Sinochem	Stake in Statoil's Peregrino oilfield in Brazil	40%	3.1
Apr10	Sinopec	Stake in Canadian oil sands company Syncrude from ConocoPhillips	50%	4.7
Mar10	CNPC/Shell/ PetroChina	Joint bid to own Arrow Energy, Australia-based coalbed methane producer	100%	3.1
Mar10	CNOOC	Stake in Argentinean oil company Bridas, with oil/gas operations also in Bolivia, Chile	50%	3.1
Oct09	CIC	Stake in Nobel Oil Group to fund Russian expansion plans	45%	0.3
Sep09	CIC	Stake in KMG, by purchasing global depository receipts	11%	0.94
Sep09	Xinjiang  Guanghui	Purchased Kazakhstan TBM's 49% share in Zaysan block (east Kazakhstan)	49%	0.3
Sep09	CNPC/ PetroChina	Stake in two projects of Athabasca Oil Sands in Alberta	60%	1.9
Aug09	Sinochem	Purchased Emerald Corp. for its assets in Syria and Colombia	100%	0.88
Jun09	CNPC/ PetroChina	Stake in SPC (Singapore)	96%	2
Jun09	Sinopec	Purchased Addax Corp.	100%	8.8
Apr09	CNPC/ KMG	Joint purchase of MMG (Kazakhstan)	100%	3.3
Jul05	CNOOC/  Sinopec	Stake in block 32 (Angola) from Marathon Oil	20%	1.3
Jun05	Sinopec	Purchased Tanganyika Corp. for assets in Syria	100%	1.8
Jun05	CNOOC	Purchased Awilco Corp.	100%	2.5
Jun05	Sinopec	Stake in Australia's AED Oil	60%	0.56
Jun05	CNOOC	Stake in Husky (Madura) Energy's assets in Indonesia	50%	0.13
Jun05	Sinochem	Purchased Soco Yemen for assets in Yemen	100%	0.46
Jun05	CNOOC	Stake in OML 130 (Nigeria) from South Atlantic Petroleum	45%	2.3
Jun05	CNPC/  PetroChina	Purchased Block H (Chad) from Swiss company Cliveden	100%	0.48
Jun05	CNPC/  Sinopec	Purchased EnCana's oil and pipeline interests in Ecuador	100%	1.5
Jun05	Sinopec	Stake in Udmurtneft for assets in Russia (later sold 51% to Rosneft)	46%	~1.7
Jun05	CITIC  Resource	Stake in JSC Karazhanbasmunai for assets in Kazakhstan	50%	0.95
Jun05	CITIC  Resource	Stake in Seram block in Indonesia from KUFOEC	51%	0.1
Jun05	Sinopec	Stake in oil sands projects by acquiring 50% of Omimex de Colombia	25%	0.4
Jun05	Sinopec	Stake in Northern Lights oil sands project	50%	~0.05
Jun05	CNPC/ ONGC	Stake in Al Furat Petroleum Company from Petro-Canada	19%	0.57
Jun05	CNOOC	Stake in MEG Energy for oil sand business	15%	0.22
Jun05	CNPC	Stake in block 18 from Angolan government when Shell left	50%	2
Jun05	Sinopec	Purchased Kazakh petroleum assets from First Intl Oil Corp.	100%	0.15
Jun05	CNOOC	Stake in Tangguh LNG project from BP	14%	0.34
Jun05	Sinochem	Purchased Atlantis from Norwegian Petroleum Geo-Service	100%	0.11
Jun05	Sinochem	Stake in block 16 (Ecuador) from ConocoPhillips	14%	0.1
Jun05	CNPC/  PetroChina	Purchased Devon Energy Corp. for six blocks in Indonesia	100%	0.59
Jun05	CNOOC	Purchased YPF Repsol's upstream assets in Indonesia	100%	0.59
45 deals involving 21 countries → Total cash outlay by China: US$75 billion

All these acquisitions give China ownership of oil resources in countries from all four corners of the globe – from oil sands projects in Canada and Columbia, to petroleum projects in Angola and Nigeria, to outright purchases of oil companies in Australia.

They've even bought 33% of Chesapeake's Eagle Ford Shale project in southwest Texas.

China's ravenous appetite for oil will only become more insatiable with time! 

THE AVERAGE AMERICAN HAS ABSOLUTELY NO CLUE HOW TROUBLING THE REALITY OF OUR CURRENT SITUATION REALLY IS.........

WAVING THE FLAG, WHILE HOPING AND PRETENDING THAT YOU UNDERSTAND ENOUGH ABOUT THE ISSUES TO BE OPTIMISTIC ABOUT OUR FUTURE, WON'T CUSHION THE COMING FALL, GUARANTEED!