• 2 days Iraq Begins To Rebuild Largest Refinery
  • 2 days Canadian Producers Struggle To Find Transport Oil Cargo
  • 2 days Venezuela’s PDVSA Makes $539M Interest Payments On Bonds
  • 2 days China's CNPC Considers Taking Over South Pars Gas Field
  • 2 days BP To Invest $200 Million In Solar
  • 2 days Tesla Opens New Showroom In NYC
  • 2 days Petrobras CEO Hints At New Partner In Oil-Rich Campos Basin
  • 2 days Venezuela Sells Oil Refinery Stake To Cuba
  • 2 days Tesla Is “Headed For A Brick Wall”
  • 3 days Norwegian Pension Fund Set to Divest From Oil Sands and Coal Ventures
  • 3 days IEA: “2018 Might Not Be Quite So Happy For OPEC Producers”
  • 3 days Goldman Bullish On Oil Markets
  • 3 days OPEC Member Nigeria To Issue Africa’s First Sovereign Green Bond
  • 3 days Nigeria To Spend $1B Of Oil Money Fighting Boko Haram
  • 3 days Syria Aims To Begin Offshore Gas Exploration In 2019
  • 3 days Australian Watchdog Blocks BP Fuel Station Acquisition
  • 3 days Colombia Boosts Oil & Gas Investment
  • 4 days Environmentalists Rev Up Anti-Keystone XL Angst Amongst Landowners
  • 4 days Venezuelan Default Swap Bonds At 19.25 Cents On The Dollar
  • 4 days Aramco On The Hunt For IPO Global Coordinators
  • 4 days ADNOC Distribution Jumps 16% At Market Debut In UAE
  • 4 days India Feels the Pinch As Oil Prices Rise
  • 4 days Aramco Announces $40 Billion Investment Program
  • 4 days Top Insurer Axa To Exit Oil Sands
  • 5 days API Reports Huge Crude Draw
  • 5 days Venezuela “Can’t Even Write A Check For $21.5M Dollars.”
  • 5 days EIA Lowers 2018 Oil Demand Growth Estimates By 40,000 Bpd
  • 5 days Trump Set To Open Atlantic Coast To Oil, Gas Drilling
  • 5 days Norway’s Oil And Gas Investment To Drop For Fourth Consecutive Year
  • 5 days Saudis Plan To Hike Gasoline Prices By 80% In January
  • 5 days Exxon To Start Reporting On Climate Change Effect
  • 6 days US Geological Survey To Reevaluate Bakken Oil Reserves
  • 6 days Brazil Cuts Local Content Requirements to Attract Oil Investors
  • 6 days Forties Pipeline Could Remain Shuttered For Weeks
  • 6 days Desjardins Ends Energy Loan Moratorium
  • 6 days ADNOC Distribution IPO Valuation Could Be Lesson For Aramco
  • 6 days Russia May Turn To Cryptocurrencies For Oil Trade
  • 6 days Iraq-Iran Oil Swap Deal To Run For 1 Year
  • 9 days Venezuelan Crude Exports To U.S. Fall To 15-year Lows
  • 9 days Mexico Blames Brazil For Failing Auction

Breaking News:

Iraq Begins To Rebuild Largest Refinery

Alt Text

Why Oil Prices Bounced Back

Trump’s decision to officially recognize…

Alt Text

Higher Oil Prices Widen U.S. Trade Deficit

The United States trade deficit…

Alt Text

Chinese M&A Wave Could Be Bad News For Investors

Chinese shareholders might not benefit…

Daniel J. Graeber

Daniel J. Graeber

Daniel Graeber is a writer and political analyst based in Michigan. His work on matters related to the geopolitical aspects of the global energy sector,…

More Info

Energy New Front in Economic Warfare

Energy New Front in Economic Warfare

Opposition leaders in Canada suggested a string of cyber security threats to domestic companies might be the work of Chinese hackers. Twice last week, the Canadian government confirmed two separate companies -– both in the energy sector -- were the target of cyber-attacks. In the United States, meanwhile, the Obama administration said national security interests trumped energy concerns and blocked a Chinese company from constructing wind turbines near a Navy installation in Oregon. While the Chinese military isn't the overt threat like the Soviet Union was, Beijing's rise as an economic power has seemingly sparked a war of economies.

The Canadian government last week confirmed that two energy companies were the target of a cyber-attack believed to have originated from China. Though Beijing denied it was responsible for the attacks, opposition leaders in Canada said there was cause for concern given the pending Chinese takeover of Canadian energy company Nexen.

"Cyber security is something we have to pay attention to and that ... includes how deals are set up and trade deals are set up and acquisitions are made," said legislator Paul Dewar, the foreign affairs spokesman for the opposition New Democratic Party.

Nexen in August backed a $15-billion takeover bid by China National Offshore Oil Corp. Canadian Prime Minister Stephen Harper has lobbied for Chinese investments in his country's vast oil and gas riches. Those ambitions could be derailed, however, given political divisions in Canada and Dewar's comments may further exacerbate tensions following a Chinese leader's statement that Beijing can't do business in Canada if deals like Nexen become politicized.

Meanwhile, the U.S. government last week blocked Ralls Corp from moving forward with plans to install wind turbines near or within restricted air space at a naval weapons training facility in the western state of Oregon.  President George H.W. Bush was the last U.S. president to declare such action when, in 1990, he blocked a Chinese aerospace technology company from buying out a manufacturing company in the United States. Ralls has four wind farm projects in various stages of development and said it would take the matter before the courts. Despite U.S. President Barack Obama's "all-of-the-above" domestic energy policy, the administration said the move to build wind installations so close to a military site was a threat to national security interests.

Beijing on Monday celebrated the 63rd anniversary of the founding of the People's Republic of China. An opinion piece in China's official Xinhua News Agency last week said the country is "confidently grasping opportunities" given the pace of economic growth since 1949. As economies expand, they must do so beyond their borders as domestic markets become saturated. With the Cold War over, it's unlikely the geopolitical fears that dominated the international arena in the 1940s would redevelop in the early 21st century. But as low-grade conflict becomes the norm, so too may a different kind of global warfare.

U.S. Navy Rear Adm. Samuel Cox last week accusing Beijing of trying to crack into the Pentagon's computer network.

"Their level of effort against the Department of Defense is constant," he said.

By. Daniel J. Graeber of Oilprice.com




Back to homepage


Leave a comment
  • Justin Flontek on October 02 2012 said:
    Canadians don't want the Chinese government taking control of our oil. Keep the oil in Canada! Keep the jobs for Canadians! Keep the money in Canada!

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News