House votes against China Unocal bid
By Aussiegirl
Looks like the House doesn't think China taking over Unocal is such a good idea -- I agree:
The row over the Chinese bid for US oil group Unocal heated up with US House of Representatives voting overwhelmingly to oppose the plan.
The lawmakers voted 398-15 late Thursday for a nonbinding resolution that calls for the US government to block the 18.5 billion-dollar bid by China National Offshore Oil Corporation (CNOOC).
The resolution said oil and gas are "strategic assets" and that a Chinese state-run firm's takeover "would threaten to impair the national security of the United States."
posted by Aussiegirl @ 7:16 PM
2 Comments:
The "strategic assets" in question are mostly in the South China sea. China is looking to buy resources in their neighnborhood. American interests are not threatened.
Thanks for the comment, I have to disagree, however. Even though China, no doubt, wants to extend its influence in its own sphere, there is ample evidence, much of which I have noted in this blog over the last few months and which is also available through open sources, of China's increasing presence in our hemisphere. The Chinese control the Panama Canal, the port in Long Beach, Ca. They have also extended their commercial and even military ties to places such as Venezuela, the Caribbean and in Canada. China also holds most of the US debt in the form of Treasury Bonds. There is no question that China is intent on extending its influence in our hemisphere, as well as creating strong ties with the Middle East, which is no wonder, considering their need for oil. Whether this is influence primarily aimed at economic expansion or has more sinister military motives remains to be seen. But there's no question that China is seeking to greatly expand and modernize its military -- since they are under no threat one wonders why they feel this need. To own one of the biggest energy companies in America would certainly represent a strategic threat and no responsible government would allow such a development -- at least I hope that's the case.
Again - -thanks for the comment.
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