Chinese government investing billions in the State of Oklahoma


countercultureok

chinese-soldier-stands-next-to-chinas-national-flag1

Sinopec, a Chinese state-owned business known for it’s refining, petrochemicals, and other energy related services has recently invested 2.5 billion dollars in the Oklahoma based company, and largest US-based natural gas producer, Devon Energy co. With this investment they have acquired a 1/3 stake in the natural gas fracking (drilling) across 1.3 million acres of land in 5 different projects located around the US. In 2013, Sinopec entered into a second joint venture with the 2nd largest US-based natural gas company and Oklahoma company, Chesapeake energy, for a 1/2 stake in drilling projects located in our very own (Northern Oklahoma’s) Mississippi Lime for the hefty sum of 1.2 billion dollars. Sinopec is recognized as one of the titans of the energy industry in Asia; primarily focused on down-stream energy services, they are known for, among other things, their very poor environmental record in Asia. These investments have raised many eyebrows due…

View original post 104 more words

Advertisements
This entry was posted in Oklahoma. Bookmark the permalink.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s