Sunday, March 06, 2005

Keep China out of the oilsands

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Something must be wrong. I actually have something good to say about "da gubbmint". Greg "The Mormon" Melchin has come out against Big Chinese Oil. Thanks, Greg, it's enough of a banana republic already without China AND the US fighting over it. One Empire at a time, please.

Chinese chase Canadian oil

By Carl Mortished, International Business Editor
CHINA’S state oil companies are creating a political furore in the Canadian province of Alberta as they seek to buy their way into the Athabasca oil sands, the world’s largest petroleum resource.

The prospect of Chinese oil companies diverting the bitumen reserves to refineries in the People’s Republic is creating anxiety in Washington and concern in the Alberta government. The high price of crude oil has stimulated billions of dollars of new investment in Alberta’s tar sands which contain more than 1 trillion barrels of oil. Greg Melchin, Alberta’s energy minister, said that he was opposed to state-owned companies buying up the resource for processing in China, exporting the value from Canada.