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Independent voices from the The Washington Times Communities
Topic - Perrin Beatty
A top Chinese oil company is confident its proposed $15.1 billion purchase of Nexen, a Canadian firm, won't turn into another awkward Unocal debacle, which is still ever-so fresh in their memory.
"It means the oil sands are attractive for global investors," Mr. Beatty explained. "The fact the Chinese, Americans and others are looking at those resources really attests to that. It underscores the fact that this is an exceptional resource and others are interested in it."
Regardless of whether the tar sands oil is dangerous for the environment, Mr. Beatty said, it can't be any worse than relying on oil from hostile Middle Eastern nations.