Buoyed by Obama’s ideology, China buys Canadian oil company

July 28, 2012

Image source: www.blogs.wsj.com

With a deep bow to his environmental base, President Obama last year killed the Keystone Pipeline and with it thousands of American jobs and hundreds of millions of dollars of future tax revenue.

As many warned at the time, neither Canada nor China were going to just sit around and “hope” that sometime in the future Obama would “change” his mind and eventually approve the deal.

Seems that China has made the first move in an energy chess match that Obama and his left wing base are all too happy to concede before it even begins.

China’s Cnooc (China National Offshore Oil Corporation) announced Monday that it was launching a takeover of Canadian energy company Nexen for a whopping $15.1 billion, USD.

The deal exposes just how serious the Chinese are about acquiring the necessary components to ensure its economy and its people enjoy the energy security that Obama and his allies could care less about.

Cnooc’s bid was $27.50 against Friday’s close of $17.06 for a whopping 61% premium.

According to foxbusiness.com and The Wall Street Journal, it is the “largest foreign acquisition by China and its largest play in North America.

It would be nice to think that even the most hard core liberals can see the danger of a Chinese energy company entrenching itself into our own backyard.

There was a time in the country that no matter their ideology, our President’s at least took their oath to protect the nation seriously.

Sadly, that time is not now.

Obama has shown time and time again, his one and only interest is ensuring his re-election. Whatever group he needs to buy off, whatever part of the base he needs to please to get the checkbooks opened, whatever he has to say or do, he’s willing to do it.

Back in November, 2011, Forbes reported that Obama-bud, Robert Redford and his fellow rads over at the Natural Resources Defense Council were just giddy with the President’s short sightedness:

“This is American democracy at its best: a President who listens to the voice of the people and shows the courage to do what’s right for the country. Thank you, Mr. President, for standing up to Big Oil. Thank you for standing up for us all”.

Only problem with that statement is that Redford and the NRDC are but a small minority of that “all” that makes up this country, and the decision to kill the pipeline was one of the most cowardly acts ever by a President of the United States.

“Courage” would have been standing up to the environuts for the sake of the country as a whole.

The jobs, the taxes, the future secure, stable energy that would come from the pipeline would have been a clear choice for anyone other than a hardened ideologue.

You don’t have to love “Big Oil”. You don’t have to like our carbon based economy. But you should damn well understand the devastation to this country and for that matter the world itself, should China become the dominant economic and military force.

Cheap, secure energy is the lifeblood to any economy.

Be it wind, solar, bio, or burning compressed unicorn farts, the truth is, the so called “alternative, clean” energy sources are the sources of tomorrow, not today.

Over time, there is no doubt, their costs will come down, their deployments will spread and future generations will see their energy delivered in ways not even contemplated yet.

But that time is not now.

You can hate oil, coal, gas and the rest to your pea brained heart’s content, but if you want to keep that I-pad, I-phone, and your Starbucks, you’d better come to grips real quick with basic economic facts.

The United States economy for the foreseeable future will need, cheap, stable, carbon based energy if it is to generate the growth needed to avoid the very real possibility of a complete financial collapse.

The Chinese see that, why won’t Obama?

Surely it’s not because the left can give him campaign money and the Chinese can’t?

Nah, that would never happen.  A President of the United States of America putting his personal political future ahead of the nation’s future?

That could NEVER happen in America.  Unless of course it’s Obama’s America.

You know, that “transformed” and “redistributed” America he promised in ’08?

Obama 2012:  Kick him out or kiss it goodbye.

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