Is it just that we [Canadians] are complacent about our own natural wealth? Or perhaps we’re scared that we will wind up with pumpkins and mice at midnight, that Canada is some Cinderella story? How about we let the Prince keep the glass slipper, have more faith, and stick around long enough to let our wealthiest foreign corporate courtiers remain that way, and not give up control of our children’s national legacy in return for ‘taking the money.’
China is now the world’s great locust… hopping from land to land in hopes of ever more commodity resources to placate its massive demands for growth [May 13, 2009: Commodities - It's China's World: We Just Live in It] Australia, Brazil, Canada, Africa, Southeast Asia, and now even its neighbor Russia with whom it’s had an icy relationship.
As oil surges, we see the same Chinese hands behind the scenes
The first set of China's strategic oil reserves, which can hold about 100 million barrels, were built over the past two years, but data on their status is considered a state secret and information about their operations or tank levels is scarce. China plans to build a second-phase strategic reserve that will nearly triple the first batch to 280 million barrels by 2011, and industry executives have said the current storage capacity has already become a hurdle to bringing in more imports.
Penn West Energy Trust and China Investment Corporation Announce Strategic Partnership - China/CIC will have certain rights to maintain its percentage ownership interest in Penn West through participation in additional private and public offerings of Units or securities convertible into Units.
Penn West is one of the largest conventional oil and natural gas producers in North America and the largest producer of light and medium oil in western Canada. Penn West operates a significant portfolio of opportunities with a prominent position in light-oil in Canada.
Also, see:
China’s Thirst of Any Commodity that Moves Leads to Thawing of Relations with Russia
[Apr 13, 2010: China's Quest for Resources Makes Billionaires Out of Some Australians]
[Feb 16, 2010: India Worries as China Builds Ports in Southeast Asia]
[Dec 15, 2009: China's Economic Power Unsettles Neighbors]
[Nov 11, 2009: China Continues Expanding "Infrastructure for Resources" Policy with Agreement in Malaysia]
[Sep 30, 2009: China Attempting to Secure 1/6th of Nigeria's Proven Oil Reserves]
[Jun 13, 2009: Australia in Perfect Position Aside China, but at a Cost?]
Source: Advisor Analyst
Saverio Manzo
http://saveriomanzo.com/
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