By Ben Geman - 07/25/12 10:16 AM EDT
The Wall Street Journal has several follow-up stories about the planned purchase of the Canadian oil company Nexen by China’s state-controlled CNOOC.
“China's other state-controlled oil and natural gas companies will likely seek their own increasingly ambitious deals amid stagnant energy supplies at home and pressure from both Beijing and investors to add to reserves, according to industry watchers,” the paper reports in one story.
The Journal also looks at the Canadian government’s vetting process for the $15 billion bid, and examines the access the deal would provide for the Chinese company in the Gulf of Mexico.
The Houston Chronicle reports that the federal government is testing the oil industry’s ability to cap a deepwater well blowout.
“The drill focuses on the Marine Well Containment Company’s equipment for capping blown-out underwater wells and containing the hydrocarbons gushing from them. Major oil companies developed the system for use in the Gulf of Mexico, modeling it after equipment that was used at BP’s doomed Macondo well in 2010,” the paper reports.
The Washington Post looks carefully at the nexus between climate change and drought.
Reuters reports that a U.S.-led initiative to cut soot and other pollutants that worsen global warming and harm public heath is expanding. From its piece:
Seven countries — Britain, Denmark, Finland, France, Germany, Italy and Jordan — formally joined the U.S.-led Climate and Clean Air Initiative, bringing the total of members to about 20 since the plan was launched in February.
"If we are able to do this we could really buy time in the context of the global problem to combat climate change," Jonathan Pershing, U.S. deputy special envoy for climate change, told a telephone news briefing from Paris.