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The Strategic Materials Advisory Council’s Dean Popps on what China’s state-owned CNOOC’s acquisition of Canada’s Nexen means for the U.S.
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This story is a big deal and it is a story that you won't and all likelihood here reported across much of the national.
Liberal media.
The committee on foreign investment in the United States has given the okay.
To a more than fifteen billion dollar acquisition by China's state run for oil producer -- the Canadian based.
Company next and its assets include a number of oil and gas platforms in the Gulf of Mexico as you see there.
They account for roughly 8% of nexus total crude oil production.
Joining me now to talk about what is China's biggest.
Foreign overseas deal yet.
Dean pops he -- all technology acquisition of the US army under presidents bush and Obama he is the co -- or about nine proper Washington DC group.
There's strategic materials advisory council be good to have you here.
-- I have to -- I was shocked.
This is approved without qualification.
Were you.
-- I was shocked beyond believe flow and putting it into sequence with a number of things that have happened since Election Day 2012.
What we're seeing is we're seeing a complete reversal.
In the president's policy I wish tonight in the state of the union.
He would address the inconsistency that he had that prior to the national elections he was pro labor pro union pro US manufacturing.
Pro US industries defense industries and the like and that it's been one thing after the other since November 6.
This deal.
-- -- could be the Canadians themselves that.
In December's they approved the acquisition.
Of next and by seeing -- the Chinese overseas oral company.
But the Canadians announced it would be the last deal of its kind.
There would be approved by the Canadian government that it was drawing a clear line again state controlled companies taking majority stakes in the strategic Canadian oilsands.
This is a huge.
Huge natural resource acquisition by China.
-- those critical strategic oil -- And and you have to link to glued to what happened in the weeks prior to that in the weeks prior to that.
China acquired a 123 battery systems that you and I spoke about right and which gives them the absolute eight to ten year lead in renewable energy.
Now by the acquisition of -- and in Canada which by the way gives them -- offshore oil laying.
All oil fields in the Gulf of Mexico and puts them right next to naval air station New Orleans I might add which is a military.
And a national security concern they've also gotten the natural energy supply chain part of this.
And let's be clear about what secrets the committee on foreign investment the United States it is -- is president all -- -- it is nothing more than a a big leap if you will -- for the president's executive even.
Imperial power.
I it involves the Treasury Secretary the homeland and -- we go through all of the executive departments.
This is nothing more than the president United States himself signing this away.
And he should do it straight up -- -- like you say perhaps address it tonight the state of the union.
All all of the leaders of this if he is process and every one of the executive agencies.
Our political appointees.
In some instances there also said it confirmed and I hope that in the senate confirmations that come up.
This week -- next Lou the we have a chance to keep asking those questions about why there is this giveaway.
During this second term of the abundant Obama administration let me ask you.
Being -- why is there this giveaway by this president.
Now.
I believe that he feels -- constrained.
And and feels that he can -- repaid.
Favors that have been done both in the cynical political world.
I also noted that.
A bill -- his former chief of staff and a representative of Rahm Emanuel.
Word just as of the date of this if he has.
-- decision made for a 123 battery found themselves in bank -- Beijing and Shanghai.
Asking for real estate investments in the city of Chicago so it's all very cynical here low what the quid pro quo czar.
But it but it doesn't speak doesn't bode dweller spell well for our country.
And it is all happening -- out.
Remark.
Or are in -- inquire by the United States congress.
Do you props thank you very much for being with us we appreciates his deal was done.
