panam330
Posts: 1967
Joined: Sun Mar 14, 2004 11:58 am

China Buys Kazakh Oil Reserves For $4.18 Billion

Tue Aug 23, 2005 2:39 am

Interesting, don't you think? With all this talk of China becoming a superpower, acquiring foreign companies, and their thirst for oil, this could only have been expected, I think.

http://www.nytimes.com/2005/08/22/bu...iness/worldbusiness/22cnd-oil.html
 
Matt D
Posts: 8907
Joined: Fri Nov 19, 1999 6:00 am

RE: China Buys Kazakh Oil Reserves For $4.18 Billion

Tue Aug 23, 2005 2:44 am

China will be the next Superpower economically, if not militarily. If they aren't already.

The United States will eventually sink to a low rate second place.

And the sick irony of it all is that China will have beaten us at our own game using one of our two weaknesses: greedy short sightedness.

The other American weakness, FYI: is our self centered inability to unite behind anything. To illustrate my point: try to imagine what would happen in todays social and political environment if we were to try and re-write the entire US Constitution.
 
erikwilliam
Posts: 2122
Joined: Fri Mar 12, 2004 12:30 am

RE: China Buys Kazakh Oil Reserves For $4.18 Billion

Tue Aug 23, 2005 3:28 am

Quoting Matt D (Reply 1):
China will be the next Superpower economically

something quite easy, I must say, when you have 1.3bilion people and have a lot off interest going on.
Quite super-easy to produce cheap crap when you pay USD1.00/day. Even I would be a superpower if I could find people willing to work like that. And if one doesn´t want to work, OK, no problem, lot´s and lot´s do want.
Just been in China a month ago, must say there´s some pretty odd thing in there.
Another point, their economic basis are not that strong, so we might see some change in the game in some time, say, when OIL get´s too expansive.
Dida, Cafu, Lucio, Roque Junior, Roberto Carlo, Emerson, Ze Roberto, Ronaldinho, Kaka, Adriano, Robinho, Ronaldo
 
sunnyb
Posts: 231
Joined: Sun Aug 01, 2004 6:36 am

RE: China Buys Kazakh Oil Reserves For $4.18 Billion

Tue Aug 23, 2005 6:00 am

Not yet maybe..

Quoting From the news article:
The deal is subject to approval by two-thirds of PetroKazakhstan's shareholders at a meeting to be held sometime in October. PetroKazakhstan agreed to pay a breakup fee of $125 million to C.N.P.C. if PetroKazakhstan later accepts a higher offer.

Indian company ONGC is preparing a counterbid.
 
Yu138086
Posts: 163
Joined: Sat Jun 14, 2003 12:09 pm

RE: China Buys Kazakh Oil Reserves For $4.18 Billion

Tue Aug 23, 2005 9:28 am

Good! I'd rather Canada divert its oil supply to the Chinese gorilla considering the Yanks refuse to pay back over $5 billion back in wrongful duties/ tariffs they collected over the years. (Those who follow this story will know what i'm referring to.) Politically the two are linked.

Canucks thumb their noses at Treasury Secretary John Snow after his recent visit to the Oil Sands of Alberta.. I love it!!

Now slap an "export tax" on every litre of oil destined below the 49th and make 'em pay in advance for it - That would be my next move.

Cheers

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