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CNBC: Energy firms operating in the South China Sea face two options: Bow to Beijing or suffer
* Beijing's willingness to use military threats in the South China, as revealed in a July incident that involved Spain's Repsol, is a worrying development for energy players
* Firms that ignore Chinese demands could face on-site harassment, de facto exclusion from the Chinese market and threats to company staff, according to Verisk Maplecroft
As the world's second-largest economy threatens military action in the South China Sea, oil and gas players with interests in the disputed zone are put in a bad place.
That was the case for Spanish energy firm Repsol. In July, its subsidiary Talisman-Vietnam was ordered by Hanoi to stop gas drilling in a China-claimed area after Beijing warned the Southeast Asian country that it would attack bases if operations continued.
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WNU Editor: China's threat of using military strikes on oil and gas platforms in the South China Sea has clearly worked.
1 comment:
President McKinley made a mistake on The Phillipines. China is following his example.
- McKinley wanted Naval Bases. He could have negotiated a treaty.
- McKinley wanted access to Phillipine markets and resources. He could have negotiated a trade treaty
U.S. Phillipine relations are better than Britian's, Germany's or France's relations with many of their former colonies.
The U.S. was greeted as liberators in WW2 and relations can be quite good, but it is very easy to wave the bloody flag.
China should take a ____ing hint from history!
I think that many of the islands in the northern part are theirs. I think the Vietnamese claim is crap; it is based on the French claim. it would not hurt to share, to set up join Vietnamese-Chinese oil companies.
Pushing around the Phillipines is easy, but stupid.
Pushing around Malaysia is extremely stupid. Malaysia has 56 other states behind them and the Chinese claim is non-existent.
(Maybe China can hire Mrs. R2P and start a war and legally size the territory they want.)
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