Often the tax savings come from putting an investment into an offshore corporation in order to preserve deductions that would disappear if the same investment were made through a U.S.-based entity.

WSJ: Tax Report: What's Next for Offshore Accounts?

Its partner in the Penglai field, China National Offshore Oil Corporation, said nothing to the public until July 1, despite the fact that large numbers of dead fish were washing up on nearby shores.

FORBES: How Do You Hide an Oil Spill? Ask China.

Some of the biggest trade rows in recent years for example, over the China National Offshore Oil Corporation's attempt to buy America's Unocal in 2005, and over Dubai Ports' purchase of several American ports have involved state-owned enterprises.

ECONOMIST: The visible hand

Freeman has also served on the board of the Chinese National Offshore Oil Corporation (CNOOC), a notorious state-owned arm of Chinese colonialism in Africa and Asia - a vantage point from which he could and did flak for Communist China.

CENTERFORSECURITYPOLICY: Garbage in, garbage out

One of seven organizations competing for this funding is the Lake Erie Energy Development Corporation (LEEDCo), which aims to stimulate an offshore freshwater wind industry in Northeast Ohio.

FORBES: The Smart Business of Advanced Energy