nexen sold

[bucket]

News has it that nexen sold for 15
billion to the Chinese.

[wilagro]

Why don't we just sell every resource to the Chinese State Trading companies?

If this goes through then we'll know that Harper really is a !@#$% traitor.

What is wrong with these people that they want to turn control of our resources to foreign entities? Bloody fools.

[Horse]

I am not up to speed on world trade in companies but I dont think it is fair to any one to let forien GOVMTS buyup companies It would be bad enough to have Foriegn companies do it letalone Govmt.
I hope the asses in ottawa veto this deal.

[wilagro]

That A*****e O'Leary is in favor of the deal...now I know that it shouldn't go through.

[cottonpicken]

And when someone stops buying our mad cows and
canola that has black legs and we don't have access
to their markets bloody murder is cried.

Trust me we own way more of them than they do of
us.

[TOM4CWB]

Folks say we depend too much on the US market... we need a diversified marketing system... we need folks from the far east to be involved. We have a great oil resource to develop... enough for all of us!

If Nexen shareholders want to sell their shares... it should be their call.

[ASRG]

Very few countries in the world allow corporations to actually own the resource. The countries own the resource, the oil companies are little more than the hired help.
The really funny part is Alberta lets the corporations develop the resource for royalties. These royalties are never paid.....until developement costs are recovered! Pretty sweet deal for the foreign corporation?
Most people have no idea how low the actual royalty rates are in Alberta? Any unconventional oil and gas (shale/tight sands/cbm) returns a 5% royalty....after all costs are deducted!
Oilsands rates are about 1%...after all costs are deducted!
This is why we have a heritage trust fund with $15 billion in it, while Norway (state owned) has over $500 billion on a smaller volume.
Alberta is a paradise for foreign corporations and foreign countries. It is like Saudi Arabia was in the twenties....before the Saudi's wised up!

[perfecho]

ASRG.....where can I find the facts about royalty rates?
I have always wondered why Ft Mac pays such exceptional wages.......one retired friend goes back for $30 grand a month as an electrician, he just can't give that up. Others I have talked to, would work for less, however why would they...just like all of us, they will take a much as they can.
Just like other providers who make a percentage on costs......why would they concentrate on getting costs down....its only going to cost them!

[wilagro]

Royalty rates vary according to the resource is rated. Old conventional oil, new conventional oil, different agreements on oilsand oil over different time spans and companies. Its a hodge-podge and this !@#$% government does not make it easy to find out anything related to natural resource royalties as so much is classed as privileged information amongst all the parties involved.

They like it that way...why should the citizenry be privy to such info...its none of OUR business. Government knows best...that's all you need to know.