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;
|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|
|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 |
|Purchased Kazakhstan TBM's 49% share in Zaysan block (east Kazakhstan)||49%||0.3|
|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|
|Stake in SPC (Singapore)||96%||2|
|Jun09||Sinopec||Purchased Addax Corp.||100%||8.8|
|Joint purchase of MMG (Kazakhstan)||100%||3.3|
|Jul05|| CNOOC/ |
|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|
|Purchased Block H (Chad) from Swiss company Cliveden||100%||0.48|
|Jun05|| CNPC/ |
|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 |
|Stake in JSC Karazhanbasmunai for assets in Kazakhstan||50%||0.95|
|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|
|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|
|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!