Foreign cash is OK, foreign control is not, energy firms say

EDMONTON-China’s financial role in the Alberta oilpatch — injecting more than $15 billion for investment and acquisitions over the past three years — is not seen as a problem by industry players.

Speaking Thursday in Edmonton on the second and final day of the National Buyer Seller Forum, three executives agreed Canada alone doesn’t have the financial ability to fund the large projects.

Read more: http://tinyurl.com/9zps5am  

Canadians Issue Resounding Hell-No to Beijing

In the latest rush to take advantage of oil opportunities in Canada, Exxon Mobil announced it signed a deal to acquire Celtic Exploration Ltd. for around $2.6 billion. The deal would give the U.S.-based supermajor access to shale reserves in British Columbia and Alberta. It also follows a string of moves by rival foreign companies to establish a foundation in North America. While the Canadian government is eager to entice investors to its oil reserves, recent public opinion surveys suggest most are wary of what looks like a foreign takeover of the petroleum sector.

Read more: http://tinyurl.com/9ev7jfm