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Jim Inhofe

Four Republicans Raise Concerns With China Deal

A group of four Republican senators on Friday sent a letter to Treasury Secretary Timothy Geithner expressing concern about Chinese energy giant's Cnooc Ltd's $15.1 billion deal to buy Nexen Inc. , adding their voice to critics of the transaction. Sens. John Cornyn, John Hoeven, Richard Shelby and Jim Inhofe said they were concerned that foreign national interest are mixed with profit motivation in the transaction. The deal is subject to review by the U.S. government because Calgary, Canada-based Nexen has substantial drilling operations in the U.S. portion of the Gulf of Mexico. The letter notes that "ownership and operation of U.S. business operations by foreign governments via their corporate proxies becomes particularly concerning when critical natural resources such as oil and natural gas are involved." Inhofe, a senior member of the Senate Armed Services Committee, first expressed his concerns to MarketWatch last month. The Republicans joins two prominent Democrats, Sen. Charles ...

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