Canada May Block China Investment In Oil Sands

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published

China’s PetroChina, its largest oil company, says it will buy a 20 percent stake in a shale gas project in Canada from Royal Dutch Shell Plc for an estimated $1 billion. The Canadian government has indicated it wants this deal and others like it. With the Keystone XL pipeline to Texas has been held up the US government, Canada looks to China as a logic export partner

But, China’s oppressive regime and environmental concerns may kill the PetroChina move

Reuters reports that

Regulatory hearings into the pipeline opened last month and could drag on for years, after which the project looks set meander through Canada’s slow-paced court system.

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

Top Gaining Stocks

BLDR Vol: 3,564,382
MHK Vol: 1,345,230
IQV Vol: 1,862,028
CRL Vol: 936,623
UAL Vol: 10,095,797

Top Losing Stocks

CTRA Vol: 73,319,495
APO Vol: 6,980,964
BX Vol: 7,939,651
COIN Vol: 10,021,577
PFG Vol: 2,663,816