China Buying Less Treasuries And More Tangible Assets

Follow the money, while it follows it's economic plan.

Headline: CNOOC pays $570m to buy into US oil shale operation

China National Offshore Oil Corp (CNOOC) Ltd, China's largest offshore energy producer, agreed to pay $570 million in cash for a one-third stake in Chesapeake Energy Corp's Niobrara shale project, adding to its US holdings in crude oil production.

The Chinese explorer also agreed to pay 66.7 percent of Chesapeake's costs up to $697 million to drill and complete wells in the area, the companies said in a statement on Sunday.

Source: chinadaily.com.cn

From Bob