American shale is easy prey as Beijing goes bargain-hunting. China could soon embark on a global buying spree following the coronavirus-induced economic crisis and the re-opening of its economy , and the U.S. shale patch is an obvious target thanks to unprecedented demand destruction, ultra-low energy prices, and catastrophic debt levels that have left hundreds of IOCs on the verge of bankruptcy . And now, some officials fear that a Chinese takeover of the battered sector is looming, which poses a national security risk. Wayne Christian, commissioner of the Texas Railroad Commission, has told Fox Business that allowing hostile nations to swoop in and purchase distressed properties in Texas and elsewhere in the shale patch is a serious national security concern. Is A Chinese Takeover Threat Real? Christian’s concerns appear valid. A 2018 oil discovery in the Permian in West Texas uncovered 46.3 billion barrels of crude, 281 trillion […]