China Set To Re-Enter America's Oil and Gas Play -- The Norwegians Are Here (Statoil) -- Why Not The Chinese -- The Bakken, North Dakota, USA

Link here: China primed to enter US energy market in 2012.

For investors, this is a great article -- touches on just about every US energy company.

China's energy use has been a key driver for oil prices while it has remained on the sidelines in the consolidating U.S. oil marketplace.

But that may be about to change in 2012 as energy finds and economic forces will push China to reenter the U.S. market, albeit through less politically challenging joint venture deals.
 
Recent shale discoveries in the U.S. -- which holds 750 trillion cubic feet of shale gas and 24 billion barrels of shale oil resources according to July estimates by the U.S Energy information Administration -- will peak [sic] the interest of Chinese oil companies looking to tap rock-trapped hydrocarbons ...

Venture stakes in exploration of deepwater oil assets outside of North America may be a sign of what's to come in China's shale interest. 

First, the "typo" -- this speaks volumes to me, this "typo" -- "peak" instead of  "pique" -- to excite or arouse interest in something.

Now back to the story.

Read this story (at the link) in light of the Keystone XL debacle.

The Chinese have got to be thinking: "Let's see. If Russia, with whom we share a very, very long border, wants to employ a lot of our folks to build their pipeline; and wants to pay us to lease the right-of-way for that pipeline; and will even let us use that pipeline for our oil; and the oil will be refined in our refineries for our profit and for our workers, why wouldn't we let them put that pipeline in: they pay for it, they hire our workers, and it's the gift that keeps on giving. And we don't even like the Russians. In fact, we consider them an enemy.

"So, now, the Canadians, with a very, very long border with the US wants to employ a lot of US blue collar workers to build their pipeline; wants to pay Americans to lease the right-of-way for that pipeline; will even let Americans use that pipeline for Bakken oil; and the oil will be refined in US refineries for US profit by US workers, why wouldn't they do it? It's a no brainer. And the US and Canada are great friends."

The Chinese must be thinking: US policy makers are either playing with less than a full deck of cards or are one bacon strip short of a BLT sandwich, but whatever it is, we (the Chinese) might as well get into the North American energy market. It sure doesn't appear Washington appreciates the natural resources right at their own doorstep.