The company could be worth up to $105 billion USD.
Communist China is set to launch a massive oil & gas pipeline company, worth up to $105 billion USD.
The company will be state-controlled, effectively making it completely subservient to China’s authoritarian Communist Party.
The move by China is yet another reminder that while the Trudeau government and foreign-funded groups seek to strangle Canada’s energy industry, massive emitter like China keep on expanding production, profiting while we lose out.
As noted by OilPrice.com, “The new company is part of China’s efforts to allow its energy companies to focus on boosting exploration and production.
Combining China’s pipeline infrastructure into one firm and opening access to this infrastructure to foreign and private producers would help the state oil and gas firms to focus on exploration at a time when China aims to increase its domestic production.
The pipeline plan is the biggest energy ‘reform’ in China since 1998 when the country restructured its oil and gas sector and created China Petroleum & Chemical Corporation, or Sinopec, and PetroChina.
The launch of the new oil and gas pipeline group is scheduled for Monday and is expected to be attended by China’s Vice Premier Han Zheng, Reuters quoted a notice from the Preparation Group of National Oil and Gas Pipeline Company as saying.”
China and Russia have also recently announced a partnership on a $55 billion USD fuel pipeline:
This is simply the reality we face: Countries around the world are going to profit from oil and gas for many decades to come. Either Canada will wake up and utilize our immense reserves here at home to make our country richer and more secure, or other countries will make money while Canada suffers.
Spencer Fernando
Photo – YouTube
