China may buy Canadian oil — thanks to Obama

August 02, 2012

When President Barack Obama blocked the Keystone XL pipeline, Republicans said the move would encourage Canada to pursue oil deals with China instead of the United States and cede a massive chunk of North American oil assets to the communist nation.

Now, China's state-run oil company CNOOC is poised to cut a $15.1 billion deal — the largest ever foreign acquisition for a Chinese company — with the Canadian oil company Nexen.

This deal prompts great concern about the Chinese government's continued attempts to use its state-owned enterprises to acquire global energy resources.

How much more damage can President Obama do to our country? Voters need to remember this on Nov. 6 at the polls.

Al Eisner, Silver Spring

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