Speak Out: Chinese buy US Oil Rights?

Replies (17)

• I've yet to watch Palens Alaska show but I read somewhere that a hidden purpose was to film and project the image of a useless waste land where the enviromentalist wont allow drilling.

  The Chinese, last I heard were exploring for oil in off shore waters prohibited to U.S. companies.

  But keep in mind, any oil produced in America will go where it commands the best price just like the oil that Clinton released from our strategic oil reserves were sold abroad.

  The republicans disclosed that our country had no energy policy when G.W.B. came in. The only thing different is we now have an energy csar.

  -- Posted by Old John on Thu, Feb 10, 2011, at 4:13 PM

• Old John - great points. True! It will sell wherever the highest dollar is. I was hoping more oil might lead to $2/gal gas (or less). I'm dreaming!

  At least it would be nice if Iran/Venezeula and other American enemies/antagonists would suffer if the price of a barrel dropped from the current $100 to about $15 again. Those countries would collapse. To your point - we don't have any energy policy.

  -- Posted by not_sorry on Thu, Feb 10, 2011, at 5:06 PM

• Obama loves communism so he should fit right in with the Chinese.

  The main thing about Palin's Alaska was about tourism. They mentioned Anwr and did show somone that lived there but didnt talk about oil that much other that what the citizens get. The couple were 280 miles from any road and were considered to be on the close side.

  Remember when the pipeline went in they said the cariboo would go extinct because it would mess up their habitat.

  -- Posted by We Regret To Inform U on Thu, Feb 10, 2011, at 5:26 PM

• Regret: I missed that when Obama said he loved communisn. Can you give us a reference? Have you looked at the stock market lately? I'm sure a man of your means is surely happy that it has gone up about 5700 points since March 2009. I don't know why nobody even mentions this.

  -- Posted by howdydoody on Thu, Feb 10, 2011, at 5:40 PM

• Well, he certainly loves communists (hired a couple of close communist friends in his administration). I assume that means he loves communism.

  When the dollar tanks, stock prices, fuel, etc. get higher. While the stock market is "up", so are the prices of food and fuel. Kinda hard to brag about one and ignore the other...

  -- Posted by not_sorry on Thu, Feb 10, 2011, at 5:55 PM

• Howdy

  Have you noticed the unemployment and overspending? The only sector growing now is government. Those jobs cost and don't produce.

  -- Posted by We Regret To Inform U on Thu, Feb 10, 2011, at 5:57 PM

• howdy, read obama's books. They'll tell you what he loves and believes in.

  -- Posted by FreedomFadingFast on Fri, Feb 11, 2011, at 6:08 AM

• I could see a tariff on food from Asia, the monies collected could be used to screen food imports to the same standards U.S. producers have to meet.

  A more revealing label on textiles disclosing quality and grade would help level the competition with importers too.

  Tariffs soley for trade balance is not the answer, IMHO.

  -- Posted by Old John on Fri, Feb 11, 2011, at 7:35 AM

• ...a label marked "Made in China" pretty well discloses quality and grade for me..

  -- Posted by Rick... on Fri, Feb 11, 2011, at 8:06 AM

  Ever bought one of those Chinese screwdrivers?

  -- Posted by We Regret To Inform U on Fri, Feb 11, 2011, at 10:29 AM

• Yes spaniard, I believe it is.

  -- Posted by FreedomFadingFast on Fri, Feb 11, 2011, at 1:55 PM

• Spanny - with "capitalism" in the US you must buy permits to get the rights to drill for oil. If your company can drill, you have a permit for that right. If a Chinese company buys a portion of the company, they now have the right to drill for oil in the US.

  Hence, US "oil rights". If you need another lesson let me know!

  -- Posted by not_sorry on Sat, Feb 12, 2011, at 9:46 PM

• There are tariffs and there are duties. Am I wrong in describing duties as fees to recover the cost of inspection and regulation where as tariff implies taxation to favor domestic production?

  Tariffs in the latter sense had place in early 19th century and prior American economy to spur innovation and help build an industrial base. Not so much in today's world.

  I still favor imposing product standards on imports equal to those imposed on domestic goods.

  If that means adding to the cost of some imports, so be it.

  -- Posted by Old John on Sun, Feb 13, 2011, at 8:33 AM

• When our government subsidizes Vietnam's industry of product imported to the U.S., that is not the free trade I have in mind.

  I agree with free trade, equal rules for both sides.

  -- Posted by Old John on Sun, Feb 13, 2011, at 9:52 AM

• I think mineral rights are a seperate part of property ownership.

  Since government does not have rights to give, it can only establish limits on exercise of rights through regulation.

  China's government owned company may in this instance own a portion of the mineral rights and profit from that but the right to drill on the property belongs to the property holder.

  The way I understand it, I can sell my farm and retain the mineral rights, but that doesn't mean I can return and start mining on the property. If the owner finds gold on the farm, I have right to the gold but only after I pay him rent on the property to mine it myself or pay him to mine it.

  And that all depends on the government regulations in place.

  -- Posted by Old John on Sun, Feb 13, 2011, at 11:58 AM

• Spanny - another lesson.

  If I want to exercise my "right" to protest, I have to get a "permit".

  If I want to exercise my "right" to drill for oil in the gulf, I have to get a "permit". With that permit, I have a right to drill for oil. That may not be the way it is is Spain, but that is the way it is here.

  Ownership of a mineral is an entirely different subject. I will stay with this one to keep it simple for you.

  -- Posted by not_sorry on Sun, Feb 13, 2011, at 12:29 PM

• BC, Would we all be winners if we did not inflate our currency?

  On a national econmomic basis the money we send overseas in exchange for goods cost nothing until it is redeemed here. If it takes more of it for less of our product as time goes by, we win, right?

  I post this as an inquiry.

  -- Posted by Old John on Sun, Feb 13, 2011, at 12:55 PM

• BC, Thanks, If I remember my history right, free silver policies deflated the currency, McKinney made a deal with the likes of J.P Morgan, Rockafellow and maybe Carnegie trading back some of there gold to the treasury as a means to inflate the coffers of government and big business.

  -- Posted by Old John on Sun, Feb 13, 2011, at 11:20 PM