It’s happening all over the Americas. Once the captive audience of the American dynamo… the Americas, and their included oil and gas conglomerates are being courted and outright stalked by Chinese interests.
We all know what happened with Unocal earlier this year.. a government backed Chinese company tried a last minute takeover to buy up the USs’ 9th largest oil producer.
Well, today, a previously unknown (because it was only incorporated on Oct 21, 2005) Chinese company called King Win Laurel Unlimited offered to buy the world’s largest publicly-traded oil company, EXXON, in a Cash deal worth over $US18 Billion.
The offer was rejected because the company deemed King Win as not financially capable of actually going through with the purchase. Fair enough… at least they didn’t run to US Congress.
The SEC raises a good point though:
“Any person who meets requirements and certifies that they are who they say they are can file,” said SEC spokesman John Heine.”
Thus, since King Win passed the SEC’s filling screenings… why wouldn’t they be accepted as a potential suitor. Why indeed.
How long will American companies and politicans be able to continue to put up roadblocks to stop Chinese companies from buying them up?
My Answer.. not very… because in reality, the Chinese own America. They own the American Dollar. And more importantly they own American Debt. In the end the survival of the American economy depends on the rising strength of India and Asia. Only Chinese companies will be able to afford the cost to expand the American oil sector into the ever growing markets in Asia.
The American Dream is starting to look more like the Chinese Renaissance.