Natural Resource Development & FDI

A couple of interesting articles in the NY Times on FDI for natural resource development in this recession. The first concerns China:

Beijing said on Friday that one of its big state-owned banks, the China Development Bank, would lend the Brazilian oil giant Petrobras $10 billion in exchange for a long-term commitment to send oil to China. China signed similar deals this week with Russia and Venezuela, bringing Beijing’s total oil investments this month to $41 billion. They represent an important investment.

The second concerns the French Oil Company, Total. As their CEO states:

“I make a big distinction between being risky and being bold,”