Husky ranks among Canada's top producers of
crude oil, natural gas and recovered sulfur.
CANADA'S HUSKY BARKS CHINESE
With Husky in its control, China could cushion the blow
of oil price hikes with rising profits at the Calgary company...
Over the long term China hopes to import unrefined oil
from Husky's fledgling oil sands projects in Alberta.
Imagine a western nation so dumbed down and corrupted that news of a vital oil producer being sold to the Communist Chinese results in a rise on the stock-market. This reinforces a statement I heard awhile back, ie that "Canada's not a country, it's a corporation". And I might add, its citizens aren't shareholders. ~ Jackie Jura
Husky shares surge to new high
Fuelled by report China's government in talks to buy Calgary giant
by Patrick Brethour, Jacquie McNish, Nov 27, 2004
CALGARY, TORONTO -- Husky Energy Inc. stock rocketed to its highest level on record yesterday after The Globe and Mail reported that the Chinese government is in talks to buy the energy giant from Hong Kong tycoon Li Ka-shing* -- and some analysts said any offer would be priced above $40 a share. Sources familiar with the talks said Chinese officials and Li family representatives started talks for a takeover, which could be worth more than $14-billion, several weeks ago in Beijing and Hong Kong. The Li family controls nearly 71 per cent of Husky, directly and through its ownership of Hutchison Whampoa Ltd. It is understood China is seeking to acquire full control of Husky through one of its state-owned energy companies, although it is not clear which agency might make the offer, or what the nature and timing of that bid could be. State-controlled PetroChina Co. Ltd. discussed a possible acquisition of Husky with the Li family two years ago, but the talks foundered on price after a steep runup in Husky stock.
Yesterday in heavy trading, Husky shares rose as high as $35.65 a share before settling down to $34.88, up $1.51. That was still a 4.5-per-cent gain during the session and left the stock well above its previous high of $33.98. Despite the jump in stock value, some analysts believe that an offer for Husky would be considerably higher. National Bank Financial said yesterday that a takeover offer for the company would be above $40. Wilf Gobert, vice-chairman of Peters & Co. Ltd. in Calgary, said such a price makes sense only if a buyer assumes that oil prices will average above $40 (U.S.) a barrel for the next quarter-century or -- more likely -- that a bidder is placing a significant value on Husky's nascent oil-sands projects, Tucker Lake and Sunrise. He said he does not believe that the increase in Husky stock threatens to derail possible discussions in the way that the PetroChina talks were cut short in 2002. Previous offers for Husky have also foundered on the valuation question, including Total SA's unannounced offer in the fall of 2001 and feelers from several unidentified parties this fall.
The Chinese are indeed intensely interested in Alberta's oil sands resources in the longer term, although for the moment there is no economical way to transport synthetic crude from Western Canada to that country. According to sources close to the negotiations, Husky's short-term appeal to China is the hedge its oil and gas sales offer against rising petroleum prices. With Husky in its control, China could cushion the blow of oil price hikes with rising profits at the Calgary company. Over the longer term, it is understood that China hopes to import unrefined oil from Husky's fledgling oil sands projects in Alberta.
This summer, a delegation of Chinese engineers and executives toured Alberta's oil sands, visiting Husky and a number of other players. According to Alberta Premier Ralph Klein, the delegation said China wants to ship synthetic crude across the Rockies -- perhaps through the Prince Rupert terminus being proposed by Enbridge Inc. -- and across the Pacific. China is also seeking to tap Husky's expertise in offshore oil drilling. The East China Sea is largely unexplored and the state-owned China National Offshore Oil Corp. has awarded Husky's subsidiary Husky Oil China Ltd. a number of contracts in recent years to conduct deep-water drilling in the South China and East China seas. A Husky spokesman said his company does not comment on takeover speculation, and Hutchison Whampoa could not be reached for comment.
*Li Ka-shing's growing empire
By Larry Klayman & Chris Farrell, World Net Daily, 2000
...Careful examination of the Chinese tycoon, Li Ka Shing's growing empire and his cozy relationship with the Communist Chinese government reveals the potential for an insidious manipulation of Western ports, markets, utilities and telecommunications that could apply crippling pressure to the United States and her few remaining allies. Indeed, through Li Ka-shing's empire -- a front for Communist Chinese expansion -- the Mainland does not need to invade Western democracies or launch missile attacks against them to flex its muscle. It can simply threaten to shut down public utilities and key industries which it now controls -- throwing Western markets into complete turmoil, if not disaster... In 1987, Li expanded overseas again, this time by taking a 43 percent interest in Husky Oil, an oil and gas company based in Canada. Since then, Husky Oil ownership has shifted to 46 percent ownership by Li and his family, 49 percent-owned by HW and 5 percent by the Canadian Imperial Bank of Commerce. Husky ranks among Canada's top producers of crude oil, natural gas and recovered sulfur...If reports that Li Ka-shing is a de facto ministry-level official of the Communist Chinese government are true, it would explain much of China's aggressive posturing on the world stage and provide a stark warning to a seemingly complacent American public...Will Americans continue to stand by idly as their sovereignty, and the public infrastructure of their allies, is sold to the highest Communist Chinese bidder?
'Cash register' Li Ka-Shing
By Charles Smith, World Net Daily, 2000
Li Ka-Shing is no ordinary billionaire. Mr. Li's company currently operates the two ports on the Panama Canal, the Pacific port of Balboa and the Atlantic port of Cristobal. According to recently declassified documents from the U.S. Commerce Department, Li Ka-Shing is a very special man in Beijing, Washington and Hong Kong. "Li is reputed to have a close business relationship with key figures in Beijing," states an August 1999 from the American Embassy in Hong Kong... The Commerce Department documents also show that law enforcement agencies were very concerned about Li Ka-Shing's connections to the Triad gangs...One document on Li Ka-Shing, previously discovered by Larry Klayman and Judicial Watch, a Washington, D.C.-based legal watchdog group, came from the U.S. Defense Department. According to the October 1999 "Intelligence Assessment," prepared by the U.S. military Southern Command, the Hong Kong billionaire is a "threat" to the Panama Canal: "Hutchison Whampoa's owner, Hong Kong tycoon, Li Ka-Shing, has extensive business ties in Beijing and has compelling financial reasons to maintain a good relationship with China's leadership," states the 1999 assessment. "For example, Hutchison Whampoa could threaten to shift some business from Panama to its facilities in the Bahamas, thus giving the company additional leverage over the Panamanian government." The U.S. military intelligence report concluded: "Hutchison's containerized shipping facilities in the Panama Canal, as well as the Bahamas, could provide a conduit for illegal shipments of technology or prohibited items from the west to the PRC, or facilitate the movement of arms and other prohibited items into the Americas."...Li Ka-Shing is not interested in democracy. Li Ka-Shing is in business to make money, and for that he will cut a deal with anyone, including Goldman Sachs, the Chinese mob and the People's Liberation Army.
CHINA ATTACK USA BY PANAMA?
Pointing to the fact that Panama has signed a 50-year lease for two ports at each end of the Canal with Hong Kong's Hutchison Whampoa company, run by Li Ka-shing, who is closely associated with the Beijing regime, Moore said this "gives China's Communist Party de facto control over the most strategic waterway in the West."... "The notion that a US president and Congress could allow the Panama Canal to fall under the control of our avowed enemies, the Red Chinese -- without a shot being fired -- is incredible. Yet we are just days away from that nightmare," wrote the admiral, who served under six US presidents and completed two terms as chairman of the Joint Chiefs of Staff. Moorer stressed that unless the American people raise a terrific outcry, Communist China will take control of the strategic waterway on December 31 and begin to occupy US military facilities which are now being abandoned by American troops. The Clinton administration has been quick to dispatch American troops all over the world, to places like Kosovo, Haiti and East Timor which are not vital to American interests. Yet the administration won't allow any continued American military presence in Panama even though the Panama Canal is vital to US national security, said the admiral.
"Nationalize oil & gas" say Canadians (& cut taxes & fix pump price). CBC, Sep 6, 2005
China's Hu to visit resource-rich Canada (looking for more sources of energy). Reuters, Sep 6, 2005
REMEMBER WHO HU IS (chief cop of China's police state chosen by cabal of Communists)
CHINADA'S SOVIETIZATION and CHINESE TAKE-OVER
9.Keeping Masses Down and 7.Systems of Thought
~ an independent researcher monitoring local, national and international events ~