CNOOC Outlook
China’s Offshore Oil Company May Be Floundering
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  • Fat_Man
  • lukelea

    Sounds more like a game of rigs. It strikes me as somehow unrealistic to imagine that a developing country as big as China (1.3 billion people!) would let diplomatic niceties stop it from exploiting these deep sea energy deposits. Whether they will or can assert exclusive rights is another thing. Maybe another country should go in and drill beside them?

  • Jacksonian_Libertarian

    State owned says it all; nobody’s responsible when everybody’s responsible, this is called the “Tragedy of the Commons”. With the State’s financial backing behind them, the “Feedback of Competition” that forces continuous improvements in Quality, Service, and Price in free markets, cannot function. And they will constantly fail along with all the other state owned businesses, until they bring down the government as happened in the USSR and numerous other places throughout history.

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