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Old 03-15-2010, 02:18 AM  
T-post Tom T-post Tom is offline
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China buying up more of world's oil & gas supply

Chinese oil firm buying 50% stake in Argentine group


China National Offshore Oil Corporation (CNOOC) is paying $3.1bn (£2bn) for a 50% stake in Argentine oil and gas group Bridas Corporation.

CNOOC president Yang Hua said Bridas was "a very good beachhead for us to enter Latin America".

Bridas has proven oil reserves of 636 million barrels, with production activities across Argentina, Bolivia and Chile.

China's demand for oil is continuing to surge as its economy grows strongly.

The International Energy Agency (IEA) recently said that China's demand for oil jumped 28% in January compared with the same month a year ago, growth the IEA described as "astonishing".

Bridas holds a 40% stake in oil business Pan American Energy, which is 60% owned by UK group BP.

CNOOC, China's biggest offshore oil explorer, hopes to complete its purchase of a 50% stake in Bridas by the middle of this year.


http://news.bbc.co.uk/2/hi/business/8567440.stm
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Old 03-15-2010, 02:47 PM   #2
KC native KC native is offline
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and here is yet another reason to wean ourselves off of oil. Let everyone else fight over it after we've moved on.
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Old 03-15-2010, 02:54 PM   #3
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and here is yet another reason to wean ourselves off of oil. Let everyone else fight over it after we've moved on.
Wow, I'm going to but a lottery ticket after work.
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Old 03-15-2010, 03:01 PM   #4
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Wow, I'm going to but a lottery ticket after work.

I think its a good time to watch the Wizard of Oz. The future lies at the end of the yellow brick road!
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Old 03-15-2010, 03:17 PM   #5
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and here is yet another reason to wean ourselves off of oil. Let everyone else fight over it after we've moved on.
I am all for it, if it doesn't cost us our standard of living in order to get off it.
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Old 03-15-2010, 03:35 PM   #6
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I don't see how anyone could be against us being less dependent on foreign supplies of energy.
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Old 03-15-2010, 03:38 PM   #7
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and here is yet another reason to wean ourselves off of oil. Let everyone else fight over it after we've moved on.
I don't think you understand the full scope of everything that uses oil.
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Old 03-15-2010, 03:58 PM   #8
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I don't think you understand the full scope of everything that uses oil.
Did I say eliminate our use of oil? No, I said wean ourselves off of oil. If we move away from gasoline motors (for most instances not all) then the biggest portion of our use falls off a cliff and then if oil disappears we won't be paralyzed.
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Old 03-15-2010, 04:05 PM   #9
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To what would we move? Burros? Maybe a hyperthrust nucleojet? Ride unicorns to market and have tea with the elves?
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Old 03-15-2010, 04:11 PM   #10
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Did I say eliminate our use of oil? No, I said wean ourselves off of oil. If we move away from gasoline motors (for most instances not all) then the biggest portion of our use falls off a cliff and then if oil disappears we won't be paralyzed.
You are aware that diesel fuel comes from crude, right?
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Old 03-15-2010, 04:18 PM   #11
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I'm hoping my mama's oil well gushes me some sweet crude for me by July.
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Old 03-15-2010, 06:00 PM   #12
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To what would we move? Burros? Maybe a hyperthrust nucleojet? Ride unicorns to market and have tea with the elves?
Yeah, there are literally no technologies out there that people could use in cars. It's CRAZY science fiction,man!
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Old 03-15-2010, 06:03 PM   #13
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You are aware that diesel fuel comes from crude, right?
I am aware of that. What significance do you attach to that fact in relation to this thread?
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Old 03-15-2010, 08:18 PM   #14
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Yeah, there are literally no technologies out there that people could use in cars. It's CRAZY science fiction,man!
I know.

I hunt deer with an old boy who says they have a carb that will get over 70 miles to the gallon in a 350 v8 but the oil companies paid off the inventor and have hidden the plans.

They also say you can use a hydrogen generator that runs of the car battery and plain old water that boosts the power output, car runs cleaner and uses way less gas. just an anode, some wire and a coupl,e rubber pipes and the Hydrogen flos into the air intake and bingo, your runnin on H. Here is the poop...http://hydrogen-water-cars.amazonweb...source=froogle

I'm telling you what, this is all stuff no one will admit to.

Dont talk about it a lot or they will find you. Damn gubbament.
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Old 03-16-2010, 10:35 AM   #15
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I am aware of that. What significance do you attach to that fact in relation to this thread?
Yes. KC native specifically mentioned gasoline motors only. Therefore, I presume that he has no issue with diesel motors.
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