Sen. James InhofeJames InhofeGOP considers ways to ‘modernize’ endangered species law GOP bill would eliminate Consumer Financial Protection Bureau GOP senators to Trump: We support 'maintaining and expanding' Gitmo MORE (R-Okla.), citing national-security concerns, is questioning a Chinese oil company’s planned purchase of the Canadian energy firm Nexen Inc., which holds substantial oil-and-gas assets in the Gulf of Mexico.
Inhofe joins a pair of senior Democrats — Sen. Charles SchumerCharles SchumerOvernight Cybersecurity: Trump defends Flynn, blasts leaks | Yahoo fears further breach Overnight Finance: Trump's Labor pick withdraws | Ryan tries to save tax plan | Trump pushes tax reform with retailers Democrats declare victory after Puzder bows out MORE (N.Y.) and Rep. Edward MarkeyEd MarkeyGOP sets sights on internet privacy rules Overnight Tech: GOP chairman to propose high-skilled visa overhaul | Zuckerberg's 5,700 word letter | Tech lobbies gear up ahead of internet fight Senate Dem blasts GOP for trying to repeal broadband privacy rules MORE (Mass.) — in questioning state-owned CNOOC Ltd.’s proposed $15.1 billion purchase of Nexen.
“I have serious national-security concerns with the Chinese government, acting through one of its corporations, purchasing a company that will give it control over significant U.S. oil and gas resources,” Inhofe told MarketWatch in a statement.
The Oklahoma Republican’s comments follow a late-July letter about the CNOOC-Nexen deal from Schumer to Treasury Secretary Timothy Geithner, whose department heads the inter-agency panel that reviews foreign purchases of U.S. assets that could affect national security.
Schumer similarly criticized China for failing to provide U.S. businesses access to its markets, and said Treasury should “withhold approval of this transaction until China's government has made tangible, enforceable commitments to ensure U.S. companies reciprocal treatment.”
Markey, in a separate letter to Geithner, called for action to ensure payment of Gulf of Mexico royalties from leases that currently allow royalty-free oil-and-gas production.
Another Republican, Sen. John HoevenJohn HoevenGOP senators unveil bill to give Congress control of consumer bureau budget Dem senator: DeVos bigger threat to education than grizzlies Senate set for high-noon vote to confirm DeVos MORE (N.D.), said in late July that he has “concerns” about the CNOOC-Nexen deal.
Hoeven and other advocates of the proposed Keystone XL pipeline have cited the planned purchase of Nexen — a significant player in the Canadian oil sands — in calling for Obama administration approval of the pipeline.
TransCanada Corp.’s proposed pipeline would bring Canadian oil sands to Gulf Coast refineries.