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| -Short Attention Span Theater- |
| Arnold’s advisor Warren Buffett has a stake in PetroChina Co., China’s top oil pro |
| 2003-08-16 |
| Schwarzenegger recruits billionaire Buffett to lead team of economic advisers All of Arnold’s patriotic rhetoric doesn’t square with his acceptance of the commie loving Buffet’s economic counsel. Buffet led the corporate world’s kow-tow to China in May, aquiring several large PetroChina stock purchases gaining the company a total of 13 percent of the oil group’s available shares which in turn constitute a 1.3 percent stake in the Chinese state-run oil giant, according the Financial Times. Warren Buffett’s Berkshire Hathaway Inc. has a stake in PetroChina Co., the nation’s top oil producer Our government and Military have issued warnings about the advance of missle technology in China over the past year. The United States has imposed sanctions on five Chinese firms and a North Korean company for selling weapons technology to Iran. One of those sanctioned firms is China North Industries a subsidiary of Sinochem. SinoChem, PetroChina and CNOOC are the three companies that dominate and determine the development of the Chinese petrol industry A month after telling Berkshire Hathaway shareholders that shares of U.S. companies were too expensive, Buffett’s company upped its stake in PetroChina. Buffett’s vote of confidence in China Shares of PetroChina, China’s largest oil and gas producer, fell two percent Friday after news billionaire U.S. investor Warren Buffett sold some of the company’s New York-listed shares. Buffett shifts PetroChina stake Maybe he felt a twinge of self-conciousness after he announced his role in Arnie’s campaign and tried to divest. Backfired. Only drew my attention. Got yours? returningsoldiers.us |
| Posted by:fullwood |
| #18 To poster number 3. I am an American living in China. While you are entitled to whatever beliefs you have, at least base them on factual information. Otherwise, your beliefs are baseless. China's economy has slowly been privitizing for 20 years now. The state no longer "owns" all of the companies. The private sector is booming. How do I know this...well, I am involved in openning three seperate companies here. So, please do some research so you don't sound so ignorant. Isn't this website supposed to be for well thought out "rants?" |
| Posted by: Anonymous6300 2004-09-02 11:42:31 PM |
| #17 GOOD FOR ARNIE he'd have my vote were I a californian for this alone. If you want the plumbing done, go to a plumber. If you want someone to right the economy, go to an expert. Not a twit with an economics degree and a safe tenure in the economics faculty at a university, but someone who UNDERSTANDS money, how to make it, how to keep it. Buffet fits that bill. Learn from the rich if you want to be rich. Under Buffet's tutelage, California will turn itself around. |
| Posted by: Anon1 2003-8-17 6:02:39 AM |
| #16 This represents the falicy in defending these robber-baron capitalists who concern themselves with their own financial gain As opposed to those socialists/communists who look out for "the people's" interests? Ever thought of moving to China? |
| Posted by: Zhang Fei 2003-8-16 11:43:26 PM |
| #15 Kinda off point though... Never stopped you before. |
| Posted by: Robert Crawford 2003-8-16 3:41:05 PM |
| #14 The fact that California has been growing in population at an astonishing rate, and no new power plants have been built in 20 or 30 years due to the usual draconian California regulations had nothing to do with the power crisis, right? In response to the price gouging by California energy companies, power prices have been kept artificially low to appease consumers by reinstating some price controls that were evicerated in the rush to deregulate, leaving the electricity industry wondering how new energy investment is going to be financed. The lack of financing is exacerbated by the loss of property tax revenue through the enactment of Prop 13., and the out of control spending that is perhaps a result of the 'astonishing rate' of growth of California's population. Davis asked for and got a committment by Bush in 2001 to waive environmental and saftey regs. to speed up the approval process for new plants. They have to be paid for. They can't have everything there; low energy prices and more energy. They have to reduce consumption sometime or expansion of energy plants will never catch up with demand. Kinda off point though... |
| Posted by: fullwood 2003-8-16 3:10:08 PM |
| #13 Have any of the posts "fullwood" made been on topic? From what I can recall, they're all just editorializing. I suppose editorializing is in the eye of the beholder. Can you explain away all of the off-topic remarks made on this page? Funny, I thought when the State started controlling investments and private decisions of investment came under the tyranny of the mob that we were on the way to Communism Supporting the right to money-grub at the expense of your country and countryfolk may be fine and dandy as long as they haven't affected national security in any direct, unlawful way. I don't have to like it though. And I wouldn't elect anyone who was indifferent to backpocket deals with the enemies of America. Robber-barons! Has anyone else noticed a theme to fullwood's self-parodies? Here's the theme for anyone who may have missed it: Traitorous money-grubbing fat-cats, in and out of government who profit from the enemies of our country while promoting policies which make our country less secure and prop up and enrich said same enemies of our country. Democrat, Republican, or whatever. |
| Posted by: fullwood 2003-8-16 2:19:32 PM |
| #12 fullwood said: dogsbody must be rich and secure ROTFL! A dogsbody lives from hand to mouth and on the cast-offs of the higher classes, that is, almost everybody. Sorry for this post, I could not stop myself. |
| Posted by: dogsbody 2003-8-16 1:16:52 PM |
| #11 Funny, I thought when the State started controlling investments and private decisions of investment came under the tyranny of the mob that we were on the way to Communism, a Communism I'm sure that fullwood is diametrically opposed to. . . |
| Posted by: Brian 2003-8-16 12:59:39 PM |
| #10 Have any of the posts "fullwood" made been on topic? From what I can recall, they're all just editorializing. |
| Posted by: Robert Crawford 2003-8-16 11:56:29 AM |
| #9 Robber-barons! Has anyone else noticed a theme to fullwood's self-parodies? The fact that California has been growing in population at an astonishing rate, and no new power plants have been built in 20 or 30 years due to the usual draconian California regulations had nothing to do with the power crisis, right? |
| Posted by: Uncle Joe 2003-8-16 11:43:46 AM |
| #8 If there's no great concern about Buffett's trading with the capitalist-communist enemy China, maybe Californians would resent Arnold's financial advisor's role in the manipulation of their energy market. Dynegy Inc. sold its Northern Natural Gas Co. to MidAmerican Energy Holdings Co., a firm controlled by Warren Buffett's Berkshire. Enron Corporation was acquired by Dynegy in 2001. Buying Enron at a deep discount made Dynegy the dominant trader of electricity and natural gas. Dynegy is or at least was being investigated by the Securities and Exchange Commission, the U.S. Attorney General, the Federal Energy Regulatory Commission, the Commodity Futures Trading Commission, the California Attorney General and the California Public Utilities Commission for its role in the California Energy Crisis. In its report released in March, FERC found that Enron, Dynegy, Mirant and other firms engaged in bogus trades that manipulated prices during California's power crisis, when wholesale prices soared fortyfold and millions of people and firms lost electricity. At the time, Dynegy's auditor was Arthur Andersen. Dynegy had revealed that it overstated earnings by about $125 million. This represents the falicy in defending these robber-baron capitalists who concern themselves with their own financial gain and who are, by all appearances, indifferent to the impact on the rest of America. So, how do Buffet and Arnold benefit average Californians with their money grubbing experience. Who's portfolio will they protect? |
| Posted by: fullwood 2003-8-16 11:30:54 AM |
| #7 Buffet saw a chance to try an emerging market, but that's all - he didn't get in with both feet . I don't see this angle holding a lot of water. We'll have to wait and see what Warren / does and says over then next 7 weeks. I'll say this...he hasn't gotten off to a good start. |
| Posted by: Rex Mundi 2003-8-16 10:54:46 AM |
| #6 fullwood, are you sure you're name isn't fuu-woo? Just kidding. I share your suspicion of China and wasn't Buffett a Dem? Why is he helping Republican Arnie? Hmmm. But I don't think investment in Petro China or Petronas or ElfAquitaine or whatever automatically disqualifies one from holding public office or designates one as an agent of sinister, hostile forces. You're gonna have to come up with a lot more if you want to convince people. The funny thing is that there are probably plenty of Chinese nationalists who are pissed about Buffett's investment on the grounds that foreign investment and ownership in Chinese industry, real estate, etc. poses a grave danger to Chinese interests. |
| Posted by: Tokyo Taro 2003-8-16 7:51:33 AM |
| #5 I would vote for Arnold just to keep him saying, "Cal-i-forn-ia". God, anything would be better than the current admin. Except Nader. God, not Nader. |
| Posted by: Celissa 2003-8-16 5:58:35 AM |
| #4 My experiences in China seem to contradict that. China is pretty solidly set on capitalism. Jiang's 'Three Represents' are being added to their constitution. I would even go so far as to say that they're more capitalistic than the French (though that may not be saying much). As for 'investing in America', where do you think the bulk of Buffett's money is? Last I knew, Bershire-Hathaway was an American company. |
| Posted by: Dishman 2003-8-16 3:21:55 AM |
| #3 If you don't think the post is valid then, hey web master, trash it. Everything in China is state-owned. All of the revenue is used to subvert our interests here and abroad. Commie money is just that. Dirty. I can't for the life of me figure why these traitors deserve any defense. To me their actions appear to undermine our national security interests as they contradict even this administrations efforts. But hey, maybe You just don't give a damn. |
| Posted by: fullwood 2003-8-16 2:02:37 AM |
| #2 dogsbody must be rich and secure. But money is only part of the issue. You can't complain about China's emerging threat and at the same time be oblique to corporate suck-ups who cozy up with the enemy. Why doesn't Arnie's new advisor believe in American investment. Too expensive? Should that be the standard? I don't think so. Buy American. |
| Posted by: fullwood 2003-8-16 1:42:05 AM |
| #1 No. This is a very tiny investment indeed. I would think he has a bigger position in the toilet paper industry. Read the last link to the endto see where the money went and you will see it's chump change. Quote; "China North Industries a subsidiary of Sinochem" His investment is in PetroChina. Could the the dastedly link be... they are both chinese? Posting should be removed as not news / not OT. |
| Posted by: dogsbody 2003-8-16 1:21:19 AM |