It’s happening all over the Americas. Once the captive audience of the American dynamo… the Americas, and their included oil and gas conglomerates are being courted and outright stalked by Chinese interests.

We all know what happened with Unocal earlier this year.. a government backed Chinese company tried a last minute takeover to buy up the USs’ 9th largest oil producer.

Well, today, a previously unknown (because it was only incorporated on Oct 21, 2005) Chinese company called King Win Laurel Unlimited offered to buy the world’s largest publicly-traded oil company, EXXON, in a Cash deal worth over $US18 Billion.

The offer was rejected because the company deemed King Win as not financially capable of actually going through with the purchase. Fair enough… at least they didn’t run to US Congress.

The SEC raises a good point though:

“Any person who meets requirements and certifies that they are who they say they are can file,” said SEC spokesman John Heine.”

Thus, since King Win passed the SEC’s filling screenings… why wouldn’t they be accepted as a potential suitor. Why indeed.

How long will American companies and politicans be able to continue to put up roadblocks to stop Chinese companies from buying them up?

My Answer.. not very… because in reality, the Chinese own America. They own the American Dollar. And more importantly they own American Debt. In the end the survival of the American economy depends on the rising strength of India and Asia. Only Chinese companies will be able to afford the cost to expand the American oil sector into the ever growing markets in Asia.

The American Dream is starting to look more like the Chinese Renaissance.

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The Director of Canadas’ Spy Agency, CSIS, has made a very frank assessment of the Iraq War:

[The Iraq War's] been an issue in terms of providing individuals more of an opportunity to learn new techniques and expertise in this. And more generally, it may serve as a motivation. It’s a serious concern

The CBC then reports: “Judd says the main terror threat facing Canada comes from radicalized Canadians. And he says CSIS has seen Iraq cause that radicalization in real cases.”

The CBC also quotes “intelligence expert Wesley Wark of the University of Toronto. “We’ve created in Iraq, as many experts now recognize, a virtual failed state where one didn’t exist before. A huge set of problems have been created there.”"

The Senate Committee hearing to which he was testifying provided a live webcast of the proceedings. But unfortunately, it hasn’t been archived. I’ll search in the coming days for the transcript of the Directors words so that we can read them for ourselves.

The message is clear though… the Iraq war is a cause of concern for CSIS and for the safety of all Canadians.

Update

I’ve found a link to the Webcast… but it’s a live feed.. so it isn’t showing the original hearing, might be a good link to keep bookmarked though if you see something that you might be interested in.

Update 2

According to the Hansard site, Committee proceedings transcripts can take up to 15 days to appear on the web.

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Treasure of Baghdad is, starting today, going to post his personal diary on his blog.

Given his first entry, I think it will be something definitely worth reading.

“We have to leave,” said my mother while we were watching the news. “This country is being destroyed and we cannot endure such life here,” she added. “Where can we go?” wondered my father who seemed didn’t like the idea. “We can rent the house and go live in Amman for some time at least,” she replied.

…..
The way to Adhamiya used to be very clean, but not any more. Because of the lack of the services in Baghdad, people started throwing their garbage in the streets.
….
Baghdad was the capital of religion and power. It was the capital of Arabs, the golden age of Islam. Arab poetry was Iraqi poetry…. Baghdad is still Baghdad.” Shadid quoted Ghani in his book. “It made my tear fall when I read this part,” I told J2.

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The excellent and experienced former freelance reporter Chris Albrighton (I say former because he’s now affiliated with and writes for Time) has posted an honest reflection of whether he should stay in Iraq.

He is understandably conflicted… he wants only to tell the story of Iraqis… yet at what cost.

His words:

The more I think about this place and yesterday’s attack on the Palestine/Sheraton compound, the more I feel that it’s time to leave here — and that I’m a coward for thinking that.

I don’t want to desert this story. I don’t want to let my friends down. I don’t want to leave my staff, who have bravely stuck by us and who can’t leave like I can. But I also don’t want to die for this story. I’m torn in half over this. I have a macho, “tough it out” mentality about this place while also wondering, “Have I worried my family and friends enough on this?”

My advice… which is fairly worthless to Chris… would be to just get out. If he is so uncomfortable that he longer feels any sense of security and truly fears for his life, then get out… even just for a short while. Then, maybe after a few months of rest and recuperation, he could return and be able again to deal with the risk to his life.

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We can complain all we want about President Bushs’ penchant for invading other countries to grab oil… but at least he does it under the pretense of removing a dangerous dictator.

Iranian President Mahmoud Ahmadinejad on the other hand… is all about the exagerated and frankly dangerous rhetoric.

Saying things like (thank JaneM):

“Israel must be wiped off the map”.

or calling for “the annihilation of the Zionist regime”

None of this beating around the Bush crap (pun intended)! Lets just say what we feel. Ahhh.. I feel liberated somehow. Strangely free from my inhibitions. Thanks Mahmoud.. you’ve made my day.

Sillyness aside. This is not the sort of thing you want to hear from a nation poised to develop a nuclear bomb… nor the nation who currently holds a very large portion of the worlds oil within its’ borders.

As Peak Oil finally takes hold, we are going to want *friendly* states dolling out the last of our most precious of resources… if only to soften the blow… an openly hostile Iran ain’t going to make it any easier.

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