China Oil Company Bids $18.5B for Unocal

[Warham]

Originally posted by Nickdfresh


It's not just a fucking photo-op! RUMMY was screamin' for war against IRAQ.

So Rumsfeld went to shake hands with Hussein in 1984, knowing that George W. Bush was going to attack Iraq in 2003?

[LoungeMachine]

Originally posted by Warham
So Rumsfeld went to shake hands with Hussein in 1984, knowing that George W. Bush was going to attack Iraq in 2003?

No, he probably figured HE'd be back to do the job himself

[Warham]

You'd have to believe in some kook theory (BCE) to dream up that scenario.

[FORD]

Rummy gave Saddam chemical weapons in the 80's and he was the one who sold the North Korean Dumbass Jr. a nuclear reactor in the late 1990's.

Now can anybody place Rummy in Iran any time in the last 20 years, that's the question.

[ODShowtime]

China berates U.S. over Unocal vote

Wed Jul 6, 9:02 AM ET

BEIJING (Reuters) - China criticized the U.S. House of Representatives on Wednesday for demanding a review of an attempted takeover of California-based oil producer Unocal Corp. by China's CNOOC Ltd.

"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 two countries," the Foreign Ministry said in a faxed statement.

The House last Thursday voted 333-92 in favor of a measure to block the Bush administration from approving CNOOC's $18.5 billion bid.

It also passed, with an overwhelming majority, a nonbinding resolution calling on the Bush administration to immediately conduct a review of the possible takeover, noting that it could threaten U.S. national security.

The bid by CNOOC, China's top offshore oil producer, topped a $16 billion-plus cash and stock offer that Unocal had already accepted from Chevron Corp .

CNOOC's largest shareholder is the Chinese government.

The Chinese firm's bid has become a complicating factor in diplomatic ties between China and the United States and comes at a sensitive time when oil prices are near record highs.

Secretary of State
Condoleezza Rice is scheduled to visit China on Saturday and Sunday.

http://news.yahoo.com/s/nm/20050706/pl_nm/energy_china_usa_dc

[Nickdfresh]

Really, I demand that CHINA revalue its currency to reflect market value!

[ODShowtime]

I know! I demand you to shut the fuck up China!

[FORD]

What really sucks is that the only alternative to the Chinese buying UNOCAL is to let Chevron/Texaco buy them. Either way, we're fucked. We either give more economic control to a foreign superpower or more to a domestic oil monopoly. Both are bad for America, and it's too bad that DLC appeasment pussies have voted alongside Republicans to permit all this ridiculous deregulation of energy industries.

[ODShowtime]

Originally posted by FORD
What really sucks is that the only alternative to the Chinese buying UNOCAL is to let Chevron/Texaco buy them. Either way, we're fucked. We either give more economic control to a foreign superpower or more to a domestic oil monopoly. Both are bad for America, and it's too bad that DLC appeasment pussies have voted alongside Republicans to permit all this ridiculous deregulation of energy industries.

Well you sure paint a rosy picture here. I guess it's not your fault reality stinks.

[Big Train]

So who, Stalin, should be given control of this company? China is the highest bidder. Chevron is the best move to make, although a lower bid. Nobody else could pony up the dough or expertise in the oil business. It's run by a few players cuz it's a tough and mature business in a late stage of it's development.

Should we just give it to some upstart Berkley company who promises to be sensible? I KNOW your gonna say yes...