Nexen Takeover Raises Sovereignty Fears

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.
Nexen Takeover Raises Sovereignty Fears
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 testfiy 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 July 13, 2005 on Capitol Hill in Washington, DC. The board of China's state-controlled oil group CNOOC failed in its USD$18.5 billion bid but hopes to fare better in its recently announced plan to purchase Canadian oil producer Nexen. (Photo by Joe Raedle/Getty Images)
Matthew Little
7/25/2012
Updated:
10/1/2015
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House Armed Services Cmte Holds Hearing On Possible China-Unocal Merger

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.