Boulder to DIA

September 20, 2010

Jobs and Wind Jobs and APWR and Texas Wind Farm

Filed under: Highlights — Skibare @ 11:57 am

the time is coming……….

Some Chinese capital is flowing into private U.S. companies and projects rather than government debt. Dallas investor Cappy McGarr is working with some big state-owned Chinese firms to build a $1.5 billion West Texas wind energy farm.

“It’s a very positive step that the Chinese government and Chinese companies have decided to come over here and invest in America rather than just buy our T-bills” or other U.S. government debt instruments, McGarr said.

In March, China National Petroleum Corp. bought a 51 percent stake in ION Geophysical Corp., a Houston petroleum exploration firm, for $108.5 million. The investment kept the Houston firm from going under, saving 400 jobs, ION officials said.

But the bulk of China’s money in America is in federal debt. And that makes both sides nervous.

A February poll of more than 2,000 adults by Zogby International found that, by a 2-1 ratio (58 percent to 27 percent), Americans were more worried about the national security implications of their debt to China than they were about radical Islamic terrorism.

Earlier this year, a retired Chinese general urged the government to dump its American holdings because of U.S. arms sales to Taiwan.

“At every G2 [China-U.S.] summit, Chinese leaders ask American leaders about the safety of our assets,” said Liu Yuhui, an economist with the Chinese Academy of Social Sciences.

China has tried to diversify some of its reserves by buying Japanese bonds and gold and by lending money to develop foreign oil fields.

Dallas is at the forefront of China’s investment forays in U.S. wind power – and not just through McGarr. Patrick Jenevein, head of Dallas-based Tang Energy Group, has worked with Chinese partners to build a wind turbine blade company in China that is looking to expand into the U.S.

“Right now the U.S. government has a monopoly on the lender. Cappy has helped to break that, and we have, too,” Jenevein said. “That’s actually brilliant. He is finding for U.S. investors another source of capital. The country [China] has so much money, they can lend not only to the U.S. government, but to U.S. companies to do better things with the money.”

 

Youths’ viewSome Chinese capital is flowing into private U.S. companies and projects rather than government debt. Dallas investor Cappy McGarr is working with some big state-owned Chinese firms to build a $1.5 billion West Texas wind energy farm.

“It’s a very positive step that the Chinese government and Chinese companies have decided to come over here and invest in America rather than just buy our T-bills” or other U.S. government debt instruments, McGarr said.

In March, China National Petroleum Corp. bought a 51 percent stake in ION Geophysical Corp., a Houston petroleum exploration firm, for $108.5 million. The investment kept the Houston firm from going under, saving 400 jobs, ION officials said.

But the bulk of China’s money in America is in federal debt. And that makes both sides nervous.

A February poll of more than 2,000 adults by Zogby International found that, by a 2-1 ratio (58 percent to 27 percent), Americans were more worried about the national security implications of their debt to China than they were about radical Islamic terrorism.

Earlier this year, a retired Chinese general urged the government to dump its American holdings because of U.S. arms sales to Taiwan.

“At every G2 [China-U.S.] summit, Chinese leaders ask American leaders about the safety of our assets,” said Liu Yuhui, an economist with the Chinese Academy of Social Sciences.

China has tried to diversify some of its reserves by buying Japanese bonds and gold and by lending money to develop foreign oil fields.

Dallas is at the forefront of China’s investment forays in U.S. wind power – and not just through McGarr. Patrick Jenevein, head of Dallas-based Tang Energy Group, has worked with Chinese partners to build a wind turbine blade company in China that is looking to expand into the U.S.

“Right now the U.S. government has a monopoly on the lender. Cappy has helped to break that, and we have, too,” Jenevein said. “That’s actually brilliant. He is finding for U.S. investors another source of capital. The country [China] has so much money, they can lend not only to the U.S. government, but to U.S. companies to do better things with the money.”

 

Youths’ view

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