The Chinese are coming to South Texas

[Dopo]

If people are offended with "capitalism"...
then they should support "protectionism" to pass laws to keep that oil from being sold to "the highest bidder"
because it sounds to me like we (whoever owns the land) got a good deal (25 cents per $1)

Shale now is as good as gold

“It paid for my property,” Gardner said. “I still get a 25 percent royalty for anything they develop. I have neighbors and friends down here who have become millionaires overnight just from the bonus payment.”

[Merovee]

I think some are just offended by globalism or perhaps they still have a Cold War mindset. Not that there is anything wrong with that, it might seem like they are dragging their feet in the 21st century, but I think there are plenty enough people who share those same feelings.

[wCat]

Originally Posted by Merovee

I think some are just offended by globalism or perhaps they still have a Cold War mindset. Not that there is anything wrong with that, it might seem like they are dragging their feet in the 21st century, but I think there are plenty enough people who share those same feelings.

I think there are just too many people that don't understand that doing business with foreign countries is not a new thing.

Toyota is still a Japanese owned company and look how many Toyotas are on the roads. They have gotten smart and have built plants here to provide jobs for their customer base as well.

China is not taking our oil. They are investing the the extraction process by providing funds that are not readily available right now. The article said this may create as many as 20,000 jobs. China will receive a percentage for their investment. That's about all we know from this article.

Selling them pecans will also help local growers. Texas has a HUGE pecan industry. Both of these seem to be positives for job growth. We really can't read a crystal ball to see how this will play out.

Is the opposition to this because China is not one of our allies? In business matters, that is not always a concern.....unless you're dealing with controversial products... (and that's a horse of a different color...and for another thread!)

[ggeorgie]

I found a great interview tith the CEO of Chesapeake about the china deal.
CEO Aubrey McClendon interviewed by CNBC | Chesapeake Energy - America's Champion of Natural Gas (http://www.chk.com/News/Articles/Pages/CEOAubreyMcClendoninterviewedbyCNBC_20101011.aspx - broken link)