Communist China Launching Massive State-Controlled Oil & Gas Pipeline Company

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

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Joe

I take it that Canada will offset China’s carbon footprint and charge Canadians more in taxes?

Sue

Nice to know our 250.million dollar contribution to the Chinese infrastructure bank is working out for them.
The Canadian taxpayer should be so impressed with our governments contribution to the oil and gas industry. And people wonder why the west should take measures into their own hands.

Del

Hooray. Now I have somewhere to invest my resource capital in a forward-thinking and progressive country that is planning for the future, obviously thinking about its place in the world. No point in wasting money in Canada as the Canadian industry pollutes and Lizzie May demands Canada business must shut down. Also, China has no use for a stupid useless Trudeau Carbon Tax.

Clive Edwards

Back in the day when Peter Lougheed was battling Turdo’s dad, Pierre over the National Energy Policy I sided with Lougheed. I was living in Edmonton at the time and saw the chilling effect it had on the oil patch. In hindsight I was wrong, and so was Lougheed. While there were major problems with the NEP at the time we would not now be importing Saudi oil to Eastern Canada and our oil could have been sold and delivered to world markets at world prices, one hopes even in Canadian dollars or gold. In the end we played right… Read more »

LOUIS JOANNETTE

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.

Ivan Hawkes

Is it not beyond obvious that the Trudeau so called government has no intention to help Canada with supporting our oil industry? supporting Saudi Arabia and other countries, no problem, but not this country or our people. in fact it seems beyond obvious that their intention is to ruin the economic viability of Canada, to drive us down as much as is possible.

David Henley

No surprise as I am sure Trudeau will be sending the a few million to assist the Chinese government.