There's no competition here

While China was ostensibly not on Hillary Clinton's mind for her recent visit to Angola, it doesn't seem far from the latest U.S. energy move in Latin America.
The U.S. government is prepared to provide up to $10 billion in loans to finance the development of massive hydrocarbon reserves off Brazil’s coast, a Brazilian official said Wednesday.


The loan is equal in value to a similar credit line agreed to with the China Development Bank, also for exploiting Brazil’s “pre-salt” area, so-named because the estimated 80 billion barrels of high-quality crude in that new oil frontier lie far beneath the ocean floor under layers of rock and an unstable salt formation.
In any case, China is not waiting around, judging from the strange news that China may be readying a bid for YPF Repsol's declining Argentine assets.

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