Wake up America!

By BonnieBlueFlag

While most of the news channels are covering stories about the Supreme Court nominee, Live 8, Natalee missing in Aruba, Shasta found in Idaho; China is telling our US Congress to mind their own business, as they try to corner the market on world oil!
China Tells U.S. Congress To Butt Out Of Unocal Bid!

BEIJING -- China on Tuesday demanded that the United States Congress stop interfering in the proposed takeover of United States oil company Unocal Corp by China's state-owned CNOOC Ltd.

American politicians have warned that the 18.5 billion dollar takeover bid announced last month could pose risks to U.S. national security, and called for a full review by the Bush administration.

Company officials have welcomed a security review, and denied that CNOOC was acting on behalf of China's government, which is in the midst of a multibillion-dollar campaign to secure foreign oil and gas supplies to power its booming economy.

"We demand that the U.S. Congress correct its mistaken ways of politicizing economic and trade issues and stop interfering in the normal commercial exchanges between enterprises of the two countries," the Foreign Ministry said in a statement.
China has been insisting CNOOC's bid is purely a business matter.

"CNOOC's bid to take over Unocal is a normal commercial activity between enterprises and should not fall victim to political interference," said the statement, which was faxed to The Associated Press.

Developing bilateral economic and trade cooperation is in the interests of both sides, the statement said.

CNOOC is bidding against Chevron Corp. for Unocal, the ninth-largest U.S. oil and gas firm. The Chinese firm has argued that its offer will benefit the United States by paying Unocal shareholders more and causing fewer job losses. (AP)

Submitted by: BonnieBlueFlag