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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Cogito Ergo Sum who wrote (141685)	11/8/2010 1:06:14 AM
From: elmatador	1 Recommendation Read Replies (1) of 206145

China paid $4.6 billion fo 9% stake in the Canadian Syncrude plus billions more invested in other oilsands companies in 2009. Big Chinese investments in Canada’s strategic oilsands would have been unlikely five years ago. Under George W. Bush, the United States would have used diplomatic pressure to keep China out of its sphere of influence. But Barack Obama isn’t big on concepts like the American national interest. He’s more interested in subsidizing electric cars than securing Canada’s 170 billion barrels of oil reserves. Sensing no pushback, more Chinese investment is sure to come. China is sitting on $2.65 trillion in foreign currency reserves, and as Obama racks up the largest deficits in U.S. history, China is nervous about buying more U.S. treasury bills. The oilsands are an attractive alternative: A long-term strategic investment in a stable country that just happens to be in America’s backyard. It’s not unthinkable that China would invest $100 billion here. torontosun.com

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