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Something to be excited about (in not a good way)

Advocates for Tar Sands and Fracking

May 14, 2013 Peter Terezakis

Asian oil companies make record buys in 2012anada's Nexen, with offshore operations in the U.S. and U.K., has agreed to be acquired by China's CNOOC for $15.1 billion. NEW YORK (CNNMoney) -- A major Chinese oil producer expanded its footprint in North America's energy market with a $15.1 billion acquisition of a Canadian company. Calgary-based Nexen Inc. said Monday that it has agreed to be acquired by China's CNOOC Ltd. in a cash transaction. The deal values Nexen (NXY) shares at $27.50 each, a 61% premium from Friday's closing price of $17.06.

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