China Claims North American Oil
Posted on 12.17.09 by Danny Glover @ 11:43 am

For decades, U.S. leaders have fretted about our country’s reliance upon the unstable Middle East for oil while at the same time blocking all attempts to drill for the nearby natural resources. If they continue the trend, there may not be any North American stockpile to tap because China is claiming it.

Energy Tomorrow, the blog of the American Petroleum Institute, reports the news:

According to the Institute for Energy Research (IER), China is quietly investing in oil and natural gas supplies around the globe, including in North America, while the United States is hoping that wind and solar power will fuel the economy.

In a new report entitled, “China Secures Oil and Gas Resources; U.S. Prefers to Wait for Green Energy,” IER explains that China is getting a foothold on oil and natural gas supplies in Canada and the Gulf of Mexico because the United States “seems to be giving it elbow room.”

The Obama administration, meanwhile, is obsessing over wind and solar polar, “green energy” sources that, at least with current technology, are too costly and inefficient to ever replace fossil fuels. Obama’s team also adamantly resists nuclear energy as a viable option.

China already has a financial hold over the United States because it has been funding America’s increasingly reckless deficit spending. Now we are giving the Chinese access to oil and gas reserves that could help stabilize the U.S. economy rather than staking claims ourselves.

The lack of vision on the part of our leaders is mind-boggling.

Filed under: Government and News & Politics

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