Brought to you in part by the impatient foreign investors at CNOOC Energy Economics Institute

“It’s the same situation as the leftover single women. … It will be the same for the oil sands, they will be outdated just like unmarried single women,”

~ Chen Weidong, Chief Energy Researcher, speaking at the Canada China Forum for energy and the environment in Beijing, in reference to China’s growing frustration over Canada’s delays in approving takeovers and pipeline infrastructure which would allow China to get at our oil sands crude.

More from that same article:

“Canada’s oil sands risks being left behind by the global energy industry if the pipelines needed to carry bitumen to the west coast do not soon materialize, a Chinese oil industry academic warned.”

“But the mixed messages sent by the delays have led to confusion and frustration, observers warn.

Canada is “advertising a big dinner party, the Chinese paid for a big ticket, and now they come and we say, ‘Oh sorry, it’s just appetizers.’ It’s not that the Chinese invited themselves to dinner. We invited them,” said Wenran Jiang, the forum’s organizer, who also advises the Alberta government on its energy policy.”

…So sorry our concern for our sovereignty and environment is inconveniencing foreign investors.

Now, scroll down the page and register your input on the Canada China FIPA.

Nexen purchase by CNOOC tainted by insider trading probe: US SEC freezes assets of traders who reaped $13 million ahead of announcement

From Bloomberg:

“The U.S. Securities and Exchange Commission  obtained a court order to freeze assets of traders who allegedly reaped more  than $13 million by trading illegally ahead of Cnooc Ltd.  (883)’s announcement that it would buy Nexen Inc. (NXY)

Hong Kong-based Well Advantage  Limited and other unknown traders stockpiled shares of Nexen based on  confidential information about the deal, the SEC said in a July 27 statement  announcing a complaint filed at federal court in Manhattan. The  court order froze about $38 million in assets, the SEC said.

Nexen’s stock rose more than 50 percent on July 23 after Cnooc, China’s largest  offshore oil and gas explorer, said it would pay $15.1 billion in cash to  acquire the Calgary-based company in the biggest overseas takeover by a Chinese  firm. The price was $27.50 for each common share, a premium of 61 percent to  Nexen’s closing price on July 20, the previous trading day.

“Well Advantage and these other  traders engaged in an all- too-familiar pattern of misusing inside information  to place extremely timely trades and profit handsomely from their illegal acts,” Sanjay Wadhwa, deputy head of the SEC’s market abuse enforcement unit, said in a  statement.

Almost all of the purchases of  Nexen stock occurred during the seven trading days before the acquisition was  announced, and the accounts used for the transactions had little or no history  of buying Nexen shares. Well Advantage’s owner is controlling shareholder of a  Hong Kong-based company that engages in significant business activities with  Cnooc, the SEC said... “

Canada has increasingly become the exception as a government, in allowing Chinese State owned(or connected) companies to lobby our government closely; in allowing Chinese State owned companies to buy vast holdings in our national and natural resources as well as allowing them to buy into telecommunications in Canada, that provide services to our military. Other countries have put the brake on similar deals because of valid concerns with regard to national security and foreign interests becoming involved and gaining power over national resources. Our own law enforcement and intelligence agencies have been crying foul over this for some time, while our federal government continues to ignore all and hold court with the communist Chinese government.

Canada is the exception. You need to ask yourself, why?

The answers might be found below, as I re-post two, timely posts:

Playing with the Dragon: Who looks after Canada’s interest while China outwits our government?

Playing with the Dragon II : The architects behind Canada’s China policy.

One can’t help but think about the Chinese state connection to the Northern Gateway Pipeline…

Updated:  Thanks to Ivana C Justice for this timely news segment from Business News Network, featuring a business person and commentator who has firsthand knowledge of what happens when you sell a company to CNOOC and the Chinese government… and why the Canadian government needs to stop this immediately. This news segment cuts right to the chase of Chinese government policy and why it will never fit in with Canadian business.