Welcome to the weekend edition, a small collection of links to interesting personal finance related articles and economic news from around the web.
A significant energy deal is in the works between China and the province of Saskatchewan, the managing director of Saskatchewans trade and investment representative office in Shanghai said Wednesday. The deal is expected to be closed by May.
This is not the first time China invests in Canadian energy resources such as oil sands or uranium and it certainly will not be the last. The Chinese are playing a game similar to the ‘Risk’ board game substituting military units by $ units all over the world on resource deposits.
In 2010, M&A activity in the energy sector totaled $31.9 billion in 95 transactions. The largest transaction of 2010 was Sinopec acquiring ConocoPhillip’s working interest in Syncrude Canada Ltd. for $4.7 billion.
I am expecting another strong year in M&A for 2011. If I’m lucky again, one of my holdings gets taken over just like GPX was taken out last year. The deals will continue to be oil focused until we see a turnaround in natural gas prices.
Looking at the bigger picture, I wonder: will?? the USA wake up too late to a new reality where the Chinese successfully secured massive uranium, oil and gas resources all over the world? How is the US preparing to face the energy challenge of the future? Only time will tell’
Weekly blog roundup:
I hope youre enjoying your Weekend!