I have been closely following the proposed takeover of NEXEN by CNOOC. In all the rhetoric and verse that has been penned in past six months there appears to be a couple of items that have been overlooked.
If the Chinese spend $15.5 billion for an oil exploration company, with holdings in the Alberta oil sands, doesn't it follow that they may want to use some of the oil in China? Yes? So how will they get it from Ft McMurray to Shanghai. The Northern Gateway Pipeline?
You may notice that the Harper government has been pretty quiet on the pipeline as of late. Is it because they are talking with the Chinese about it?
Secondly, you can't help but applaud the speech given by John Baird at the UN this week. Since we have no trade or relations with Syria and we do not seem to care about the UN, talk is what we do best.
But... where is the resistance at the UN over Syria coming from? Primarily the Russians, we are told, but also from the Chinese. So what are we going to do about that? Nothing. We will continue to trade with Russia and China wants NEXEN.
Trade trumps human rights yet again.
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