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Oil-patch ironies aside, many questions for Harper

The Globe and Mail -- hose who have discussed the issue with him report that Prime Minister Stephen Harper has been worried a state-owned company, likely from China, would take a run at a major Canadian energy producer.

Now that the massive China National Offshore Oil Corp. (CNOOC Ltd.) has bid $15.1-billion for Nexen Inc., it’s easy to understand the Prime Minister’s uneasiness. His initial statements were properly guarded, as befits the complexity of the file and his own apparent hesitations.
It has been said that the CNOOC bid is a standard business transaction: one company taking over another, in this case with the support of the Nexen board. CNOOC trades on stock exchanges. It has made commitments about keeping headquarters in Calgary, maintaining staff and conducting business pretty much as before.

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Submitted Jul 28, 2012 By: momsno1_taxi

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TRYWI All-Star Author Appleton Posts:898 Points:282,150 Joined:Jan 2012	Message Posted: Jul 29, 2012 1:40:46 AM Ignore TRYWI Report Abuse The hopper
fuel2use Champion Author Seattle Posts:3,473 Points:730,400 Joined:Dec 2010	Message Posted: Jul 29, 2012 12:43:28 AM Ignore fuel2use Report Abuse I have to watch this.
Nicoalbum Champion Author Ottawa Posts:6,002 Points:1,185,890 Joined:Jan 2010	Message Posted: Jul 28, 2012 5:59:54 PM Ignore Nicoalbum Report Abuse Harper's moves are predictable.
Rehorsehay All-Star Author California Posts:871 Points:45,925 Joined:Feb 2012	Message Posted: Jul 28, 2012 1:53:30 PM Ignore Rehorsehay Report Abuse Ping pong game!
Samo1961 Champion Author Los Angeles Posts:1,880 Points:617,750 Joined:Feb 2011	Message Posted: Jul 28, 2012 1:42:53 PM Ignore Samo1961 Report Abuse Money talks.........
eddyp94 Champion Author Ontario Posts:8,163 Points:1,660,835 Joined:Mar 2008	Message Posted: Jul 28, 2012 1:42:05 PM Ignore eddyp94 Report Abuse Just tax them to death like the rest of Canada...
Aviator_Rob Champion Author New York Posts:3,776 Points:410,615 Joined:Mar 2012	Message Posted: Jul 28, 2012 1:41:10 PM Ignore Aviator_Rob Report Abuse Who cares about wait lines when you can't afford health insurance at all, @BigHorne1? I'd rather wait in line in Canada than be thrown out into the snow in the U.S.
mossimo36 Champion Author St. Louis Posts:2,650 Points:493,925 Joined:Sep 2011	Message Posted: Jul 28, 2012 1:39:40 PM Ignore mossimo36 Report Abuse Not good.
Aviator_Rob Champion Author New York Posts:3,776 Points:410,615 Joined:Mar 2012	Message Posted: Jul 28, 2012 1:39:03 PM Ignore Aviator_Rob Report Abuse Riiight, @bullfrog69. Because Obama has been President for the last 12 years and has single-handedly turned over the country to China. I think the previous guy in the Oval Office had a large part to play. And Big Business saw 1.2 billion customers in China and thought they could screw China harder than China would screw us. So, how'd that turn out?
Gasazhunter Champion Author Phoenix Posts:4,195 Points:1,024,795 Joined:May 2010	Message Posted: Jul 28, 2012 1:38:42 PM Ignore Gasazhunter Report Abuse Ok.
Tucker16 Champion Author Ottawa Posts:1,149 Points:541,130 Joined:Jul 2006	Message Posted: Jul 28, 2012 1:35:56 PM Ignore Tucker16 Report Abuse He'd best block anything they try.
unicornpmb Champion Author Buffalo Posts:8,476 Points:1,626,590 Joined:Sep 2005	Message Posted: Jul 28, 2012 1:31:35 PM Ignore unicornpmb Report Abuse China has the money.
bullfrog69 Champion Author Texas Posts:2,304 Points:832,010 Joined:Nov 2009	Message Posted: Jul 28, 2012 1:31:34 PM Ignore bullfrog69 Report Abuse Our government since Nixon has let china run outta control and catered to them! Now its to late, just like the steel and copper our country is selling to them for the greed of tha all mighty dollar and Obama is the worst of them all allowing this to by-pass the U S!
srchr Champion Author San Jose Posts:7,238 Points:1,617,125 Joined:Apr 2008	Message Posted: Jul 28, 2012 1:28:49 PM Ignore srchr Report Abuse like the japanese bought up everything with their foreign currency imbalance in the 80's
69Bonne Champion Author Gary Posts:1,135 Points:470,125 Joined:Sep 2005	Message Posted: Jul 28, 2012 1:28:43 PM Ignore 69Bonne Report Abuse China's trying to buy the world's oil and the world's business.
hcivic Champion Author Virginia Posts:3,839 Points:2,262,790 Joined:Aug 2005	Message Posted: Jul 28, 2012 1:28:33 PM Ignore hcivic Report Abuse interesting
fullauto Champion Author Reading Posts:5,305 Points:1,469,140 Joined:Apr 2008	Message Posted: Jul 28, 2012 1:27:36 PM Ignore fullauto Report Abuse buy in - take over.
sprocketsplines Champion Author Washington Posts:1,667 Points:857,715 Joined:Oct 2010	Message Posted: Jul 28, 2012 1:23:23 PM Ignore sprocketsplines Report Abuse Harper will have to consider the possible impact on Canadian-US relations. However, he cannot overlook the increased exposure to Chinese markets.
BigHorne1 Champion Author Missouri Posts:1,482 Points:293,850 Joined:Jul 2012	Message Posted: Jul 28, 2012 1:21:16 PM Ignore BigHorne1 Report Abuse The government needs to stand their ground. Have a talk with Canada and re-assure the friendship we have with them. It is mostly one sided, their people come down to the U.S. for cheaper clothing and better healthcare. Just for all nay-sayers, that speak of how good Canada healthcare is, why is it so many come to the United STates for alot of their surgeries...wait lines. Get ready for the same here. It isn't government run, but government controlled with their regulations...oh yeah that is one in the same.
joko0 Champion Author New Jersey Posts:1,950 Points:561,915 Joined:Oct 2008	Message Posted: Jul 28, 2012 1:21:08 PM Ignore joko0 Report Abuse Ok
donny47 Champion Author New Hampshire Posts:2,651 Points:984,465 Joined:Feb 2009	Message Posted: Jul 28, 2012 1:20:42 PM Ignore donny47 Report Abuse money talks!
tsgasprc Champion Author Colorado Posts:1,312 Points:359,840 Joined:Jun 2010	Message Posted: Jul 28, 2012 1:17:23 PM Ignore tsgasprc Report Abuse Nothing new there, they own a ton of stuff in the U.S.
Asbury09 Champion Author Iowa Posts:7,198 Points:1,527,380 Joined:Jan 2009	Message Posted: Jul 28, 2012 1:16:31 PM Ignore Asbury09 Report Abuse ok
DeeLA Champion Author Los Angeles Posts:4,802 Points:1,362,405 Joined:Nov 2008	Message Posted: Jul 28, 2012 1:15:17 PM Ignore DeeLA Report Abuse This is not a new article. I commented on it yesterday.
Aviator_Rob Champion Author New York Posts:3,776 Points:410,615 Joined:Mar 2012	Message Posted: Jul 28, 2012 1:14:18 PM Ignore Aviator_Rob Report Abuse And remember that @dynamouse says the same things, over and over, but never provides any facts to back up his claims.
toxigas Champion Author Oakland Posts:1,196 Points:404,545 Joined:Oct 2011	Message Posted: Jul 28, 2012 1:13:48 PM Ignore toxigas Report Abuse Hard to guess what really will happen. Here's one possibility: CNOOC gets state-owned money (from China) enabling it to grow and produce at below-market rates. That enables it to under-cut competitors (see the PV module industry for a very recent example). CNOOC's acquisition of Nexen would expand their ability to produce crude at a lower cost than than an open-market competitor. The net effect will be downward pressure on price. Open-market multinationals will kick and scream because this kind of scenario generally erodes their profit margins. They will exhort their governments to kick and scream with them. But the millions of small individual consumers shout 'hurray' as prices decline. So, in a twist of irony, you can wince at China buying up a North American company (again), but it just might help your wallet.
Aviator_Rob Champion Author New York Posts:3,776 Points:410,615 Joined:Mar 2012	Message Posted: Jul 28, 2012 1:13:27 PM Ignore Aviator_Rob Report Abuse What's your beef with the President, @humblepie? And why is sending our money to Canada such a good thing? You can now see they're more than happy to get in bed with China. Drive more efficient vehicles and we won't need ANY foreign oil, Canada included.
Sam195 Champion Author San Bernardino Posts:8,075 Points:1,572,150 Joined:Oct 2008	Message Posted: Jul 28, 2012 1:13:15 PM Ignore Sam195 Report Abuse The Chinese cannot be trusted, that is for sure.
bevmill Champion Author Georgia Posts:2,562 Points:597,295 Joined:Apr 2006	Message Posted: Jul 28, 2012 1:12:38 PM Ignore bevmill Report Abuse ok
dynamouse Champion Author Michigan Posts:4,491 Points:1,747,900 Joined:Dec 2006	Message Posted: Jul 28, 2012 1:12:35 PM Ignore dynamouse Report Abuse Remember obama wants gas at $5-6 a gal,hes stopped the pipe line ,held up drilling permits, wasted tax money on green technology
nozzle46 Champion Author Little Rock Posts:6,680 Points:1,470,775 Joined:Jul 2006	Message Posted: Jul 28, 2012 1:12:29 PM Ignore nozzle46 Report Abuse in a 100 years china will own the world.
VB_Richard Champion Author Virginia Beach Posts:1,643 Points:348,895 Joined:Dec 2011	Message Posted: Jul 28, 2012 1:12:17 PM Ignore VB_Richard Report Abuse We can play on a level field or we can tie our hands and allow our competition options we refuse to give ourselves.
032946 Champion Author Twin Cities Posts:19,839 Points:4,040,045 Joined:Oct 2001	Message Posted: Jul 28, 2012 1:12:07 PM Ignore 032946 Report Abuse China will control the world!
Aviator_Rob Champion Author New York Posts:3,776 Points:410,615 Joined:Mar 2012	Message Posted: Jul 28, 2012 1:10:06 PM Ignore Aviator_Rob Report Abuse What are you talking about, @humblepie? If anything, big business and Wall Street banks have pushed the poor man over the edge.
MelBert12 Rookie Author Arizona Posts:10 Points:7,585 Joined:Jul 2012	Message Posted: Jul 28, 2012 1:09:50 PM Ignore MelBert12 Report Abuse They will own the USA one piece at a time
Cuzilla Champion Author Indianapolis Posts:12,183 Points:2,346,495 Joined:Sep 2005	Message Posted: Jul 28, 2012 1:09:03 PM Ignore Cuzilla Report Abuse The only Commies and Leftie/Socialists that are NOT interested in using oil and gas are our very own variety!
ScottTee Champion Author Detroit Posts:4,371 Points:1,059,695 Joined:Mar 2010	Message Posted: Jul 28, 2012 1:07:46 PM Ignore ScottTee Report Abuse China, is the master at double speak, say one thing while doing another.
mickealo Champion Author Spokane Posts:6,147 Points:2,141,510 Joined:Oct 2006	Message Posted: Jul 28, 2012 1:07:26 PM Ignore mickealo Report Abuse china the next super power in busness anyway
Lizzylou Champion Author Stockton Posts:8,818 Points:2,357,285 Joined:Oct 2005	Message Posted: Jul 28, 2012 1:05:17 PM Ignore Lizzylou Report Abuse Looks like China moving in on another venture
MJIOWA Champion Author Iowa Posts:4,808 Points:1,075,020 Joined:Nov 2009	Message Posted: Jul 28, 2012 1:04:48 PM Ignore MJIOWA Report Abuse OK
smokinjoe54 Champion Author Ohio Posts:4,703 Points:909,610 Joined:Feb 2010	Message Posted: Jul 28, 2012 1:02:15 PM Ignore smokinjoe54 Report Abuse Not a good thing.
gem1224 Champion Author Tulsa Posts:1,541 Points:491,640 Joined:May 2011	Message Posted: Jul 28, 2012 12:56:18 PM Ignore gem1224 Report Abuse Yawn
blazerbob91 Champion Author Milwaukee Posts:6,125 Points:1,880,270 Joined:Aug 2005	Message Posted: Jul 28, 2012 12:55:12 PM Ignore blazerbob91 Report Abuse Stop sell out to the Chinese
livewire300 Champion Author South Carolina Posts:3,360 Points:165,810 Joined:Jun 2011	Message Posted: Jul 28, 2012 12:53:59 PM Ignore livewire300 Report Abuse Lame Comment...
timbyus1 Champion Author Fort Worth Posts:1,949 Points:388,605 Joined:Mar 2012	Message Posted: Jul 28, 2012 12:52:32 PM Ignore timbyus1 Report Abuse erad
FuelishGuy All-Star Author Edmonton Posts:794 Points:922,770 Joined:Oct 2008	Message Posted: Jul 28, 2012 12:50:20 PM Ignore FuelishGuy Report Abuse According to the CBC, Nexen is 10% owned by US interests and can present a wrinkle to the take over bid. Only 28% of their assets are in Canada and the balance is overseas. Someone didn't do their homework. Don't think Harper has a choice but to allow this deal to go through since he dedicated a trip to China to woo them. If opposed to the deal, the only out for Canada is to convince the US stakeholders to decline the deal. As a shareholder, I'd be pissed if the deal gets blocked. Business is business but I love politics!
humblepie Champion Author Toledo Posts:34,099 Points:2,368,445 Joined:Mar 2006	Message Posted: Jul 28, 2012 12:45:12 PM Ignore humblepie Report Abuse obama pushed the poor man over the edge
djwhit Champion Author Ohio Posts:2,997 Points:1,205,530 Joined:Jul 2009	Message Posted: Jul 28, 2012 12:25:52 PM Ignore djwhit Report Abuse GET IT DONE........
AlgaeNOW Champion Author Wyoming Posts:1,012 Points:312,030 Joined:Sep 2005	Message Posted: Jul 28, 2012 12:04:29 PM Ignore AlgaeNOW Report Abuse k
gbs1 Champion Author Minnesota Posts:1,986 Points:739,675 Joined:Mar 2011	Message Posted: Jul 28, 2012 11:58:16 AM Ignore gbs1 Report Abuse Another Chinese takeover, they have the world's cash to make these deals.