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| Great White North | |
| Chicoms Negotiatiating Control of Canadian Energy Giant Husky Energy | |
| 2004-12-01 | |
| From East-Asia-Intel, subscription req'd. The Chinese government is negotiating the purchase of the Calgary-based oil and gas firm Husky Energy, Inc. from Hong Kong billionaire Li Ka-shing, the Toronto Globe and Mail reported last week. Li Ka-shing is chairman of Huchison Wampoa of Hong Kong, the same company that has the port management contracts with Panama at both ends of the Panama Canal. The multibillion-dollar takeover talks have been underway for the past several weeks in Beijing and Hong Kong. China wants full control of Husky through a state-owned company, possibly PetroChina Co. Ltd. Li Ka-shing or his family owns about 71 percent of Husky through Hutchison-Wampoa, the same company that successfully leased two ports at either end of the Panama Canal. The Husky bid is part of China's efforts to secure energy resources for its modernization. China consumes large amounts of oil and other natural resources as part of its modernization drive. China has no known oil reserves, and its lack of energy resources is rapidly pushing Beijing toward expansion, possibly in Russia and Southeast Asia.
How would you like to have a major energy or minerals company in your country owned by the Chicoms? Hutchison Wampoa buys 'em up (fronts) and the Chicoms buy from Hutchison Wampoa. The Chinese acquisitions have raised concerns among some security officials because the assets could be controlled by Beijing. BSO...no sh*t, Sherlock.... U.S. officials believe China is engaged in a major international effort to purchase ports at strategic locations around the world as part of a plan to control major waterways. Another Blinding Statement of the Obvious. Chicom strategic thinking. | |
| Posted by:Alaska Paul |
| #7 Chinese oil reserves vary as the definition of what is China does. Without the dubious off shore "acquisitions" in the Parcels, etc., China has a very limited reserve. Overall, China is trying to catch up to its use. The coal reserves, polluting all the way, aren't yet enough to supply electricity demands, and you cannot burn coal in your car. OTOH, if 50 K Chinese die because it's a cold winter, they don't care. lex: The Japanese would defend Sakhalin. And win. |
| Posted by: Chuck Simmins 2004-12-01 4:56:21 PM |
| #6 These guys are buying at the peak of the market. Just like the Japanese. However, the Japanese were actually rich when they bought Rockefeller Center. |
| Posted by: Zhang Fei 2004-12-01 4:27:38 PM |
| #5 and its lack of energy resources Its the world's largest coal producer. Is a big gas producer and has just implemented the world's biggest (i think) hydro project. The Chinese have a problem with security of oil supply, but then so does everyone else. |
| Posted by: phil_b 2004-12-01 4:07:37 PM |
| #4 China has no known oil reserves,... The last time I checked they did. Are we supposed to take this guy seriously as a source? |
| Posted by: Phil Fraering 2004-12-01 3:25:45 PM |
| #3 there are already more illegial chinese than ethinc russian in siberia..and it is only going to get worse with the declining russian birth rate, chronic illness and russians leaving siberia..as it stands now the russian far east looks to china/japan for ecomomic support and not moscow. |
| Posted by: Dan 2004-12-01 2:57:45 PM |
| #2 China has no known oil reserves, and its lack of energy resources is rapidly pushing Beijing toward expansion, possibly in Russia and Southeast Asia. Without question we can expect the Russian Far East to gradually be sucked into the Chinese orbit. Russia can't even put down the Chechen revolt south of Moscow; how could they defend Sakhalin? Huge oil reserves there. |
| Posted by: lex 2004-12-01 2:44:49 PM |
| #1 I screwed up the spelling on the title, please fix. |
| Posted by: Alaska Paul 2004-12-01 2:21:56 PM |