China’s insatiable thirst for oil is a boon to Canada’s capital-intensive oil sands, but the communist regime’s control over investments in Alberta has some watchers spooked.
Chairman of the U.S. China Economic and Security Review Commission Richard D'Amato (L-R), Vice President of Allen Booz Hamilton and former Central Intelligence Agency Director James Woolsey, and former Director of Natural Resources Studies, CATO Institute Jerry Taylor testify during the House Armed Services Committee hearing on national security implications of the possible merger of the China National Offshore Oil Corporation with Unocal Corporation on Capitol Hill in Washington July 13, 2005. Joe Raedle/Getty Images
China’s insatiable thirst for oil is a boon to Canada’s capital-intensive oil sands, but the communist regime’s control over investments in Alberta has some watchers spooked.
With its US$15 billion bid for Nexen Inc., the China National Offshore Oil Company (CNOOC) is turning heads, raising questions about long-term impacts if the authoritarian regime plays a significant role in Canada’s national economy.
At least one security expert is concerned the deal will worsen a pattern of senior government officials who retire from their posts to work for the Chinese regime or business lobby.
Matthew Little
Author
Matthew Little is a senior editor with Epoch Health.
