• 4 minutes Projection Of Experts: Oil Prices Expected To Stay Anchored Around $65-70 Through 2023
  • 7 minutes Oil prices forecast
  • 11 minutes Algorithms Taking Over Oil Fields
  • 14 mintues NIGERIAN CRUDE OIL
  • 5 hours UK, Stay in EU, Says Tusk
  • 5 hours Nuclear Power Can Be Green – But At A Price
  • 10 hours Socialists want to exorcise the O&G demon by 2030
  • 2 hours Chevron to Boost Spend on Quick-Return Projects
  • 6 hours U.S. Treasury Secretary Mnuchin Weighs Lifting Tariffs On China
  • 9 hours Maritime Act of 2020 and pending carbon tax effects
  • 12 hours What will Saudi Arabia say? Booming Qatar-Turkey Trade To Hit $2 bn For 2018
  • 19 hours Venezuela continues to sink in misery
  • 1 day How Is Greenland Dealing With Climate Change?
  • 12 hours German Carmakers Warning: Hard Brexit Would Be "Fatal"
  • 22 hours Blame Oil Price or EVs for Car Market Crash? Auto Recession Has Started
  • 10 hours Conspiracy - Theory versus Reality
  • 43 mins *Happy Dance* ... U.S. Shale Oil Slowdown
  • 4 hours Regular Gas dropped to $2.21 per gallon today
Canada’s Crude Oil Production Cuts Are Unsustainable

Canada’s Crude Oil Production Cuts Are Unsustainable

With Canada’s pipeline bottlenecks weighing…

Obama Blocks Chinese Purchase of Wind Farms Over National Security Concerns

The Chinese-owned company Ralls Corp. yesterday announced its intentions to sue Barack Obama for his decision, last week, to block the company’s purchase of four small wind projects in Oregon. Obama made the ban based on national security reasons due to the fact that the wind turbines were situated close to restricted air space used by a local navy weapons training facility.

Ralls Corp. is a Delaware-based firm which is privately owned by two Chinese nationals, who are also executives for the Chinese company, Sany Group, who build wind turbines. Ralls have accused Obama of overstepping his authority as president.

The complaint read: “By failing to provide Ralls with sufficient notice and opportunity to be heard prior to prohibiting its acquisition of the windfarms and imposing extraordinary restrictions on the use and enjoyment of its property interests, CFIUS and the president have unconstitutionally deprived Ralls of its property absent due process.”

Obama made the decision during a time when Mitt Romney has been accusing him of failing to stand up for US businesses who are receiving extreme competition from Chinese firms.

It is the first time in 22 years that a president has blocked a foreign investment due to fears for national security.

By. James Burgess of Oilprice.com



Join the discussion | Back to homepage

Leave a comment
  • MC on October 04 2012 said:
    Yet he's allowed them to purchase thousands of acres of oil and gas fields.

Leave a comment

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