NEW YORK – The Obama administration is quietly allowing China to
acquire major ownership interests in oil and natural gas resources
across the U.S.
The decision to allow China to compete for U.S. oil and natural gas
resources appears to stem from a need to keep Beijing economically
interested in lending to the U.S. The Obama administration has run
$1-trillion-plus annual federal budget deficits since taking office that
likely will continue in the second term.
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