About two years ago people across Canada voiced their concerns about China’s involvement in Alberta’s oil patch. Instead of cashing in a Financial Post (FP) report says “some of the major acquisitions are looking messy to hopeless.”
courtesy: China Petrochemical Corp
Rather than cash flowing into Chinese investors pockets, they seem more content with cutting costs. As a result executives are falling faster than pins at a bowling alley.
Some of the Chinese investors are suggesting a big problem for them is what they feel are restrictive foreign ownership rules. But according to the FP story China’s more upset over the high prices paid, and frustrations with the amount of time it is taking to turn resources into production and in turn profit.
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