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If you thought it was "Blood for Oil"--you're wrong. It was far, far worse.Greg Palast
How Bush won the war in Iraq - really!
Greg Palast for Vice Magazine
An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
If you thought it was "Blood for Oil"--you're wrong. It was far, far worse.Greg Palast
The Chinese government has decided to combine the China National Petroleum Corp. (CNPC) and its main domestic rival China Petrochemical Corp. (Sinopec) as well as other major energy companies - China National Offshore Oil Corp. (CNOOC) and Sinochem Group, according to the Wall Street Journal.
The decision to consolidate China’s oil sector by joining big state-owned firms into a single giant is part of an effort by Chinese President XI Jinping to make the country’s oil producers more competitive globally and assert China’s prominence.
The merger of CNPC and Sinopec would create one of the world’s biggest companies with control of the vast majority of China’s onshore oil and gas production. The merger of all four major oil producers would create an entity twice as big as ExxonMobil by revenue.…China's strategy — dominate by sheer size.