CHINESE OIL COMPANY INTERESTED IN UNITED STATES OIL COMPANY

chinese ...
the chinese state oil company has now made an offer of $ 20 bn for UNOCAL, CHEVRON previously bid $ 16.45 bn for the company.
mr. greenspan does not feel that there is any reason why this deal should be stopped .
a commentator on CNN business news said this morning that this deal would be "short-term gain for long-term pain" for the u.s. business. hbg

neighbours : are you starting to learn chinese ?


...CINESE BID $ 20 bn FOR U.S. OIL FIRM...

Did they learn Japanese when the Japanese were supposed to have been taking over the US?

Getting Henry Kissinger on-side couldn't have been that hard. Perhaps they won't prosecute him for war-crimes when they run the planet....

i think signing on with the chinese is henry's way of showing his displeasure for not being allowed to become president of the united states.
henry has some similarity with chairman mao,
i think.
"henry" for chairman of the chinese communist party , perhaps ? (after all, he does play ping-pong !). hbg

The Chinese have a loooong way to go!!

Bush - oil-man
Cheney - Halliburton/KBR
Rice - Chevron
Form Pres Bush - House of Saud
Secretary of Commerce Don Evans - Tom Brown, Inc.,


Philip Cooney, official on the White House Council on Environmental Quality - now Exxon Mobil Corp (June 15, 2005!)

i think this is a rather interesting topic - to me aanyhow.

i usually watch CNBC 2-3 times a day for 10 to 20 minutes at a time.

this morning commerce secretary snow seemed to think that it was actually a good thing for the chinese oil company to buy unocal; i believe he called it "a good fit" .

around 2 pm there was abrief interview with rep PAMBO (?) of texas(chairman of the house enegy committee ?) and a representative of the asian research council (a u.s. research institute). rep. pambo came close to calling the possible sale a national disaster - energy supply already on the low side , u.s. company and supplies falling into foreign hands - particularly chinese, that seemed a great problem to the rep from texas.
the respondent seemed to feel that this was no big deal since it represented only about a 1/2 % of current u.s. oil supplies. he also stated that aramco and the venezuelaen (state) oil companies aready had stakes in the u.s. energy companies. as an aside he mentioned that a russian oil company has gasoline retail stations in downtown washington; so he didn't think that letting the chinese have a piece of the u.s. energy pie was nothing to get exited about. besides, the chinese were paying a good price for unacol; therefor it's good for the u.s. economy.
mr greenspan had several days ago already endorsed the deal as good for the united states and good for free trade.
it's certainly ineresting to watch this from across the border. hbg

i think this is a rather interesting topic - to me anyhow.

i usually watch CNBC 2-3 times a day for 10 to 20 minutes at a time.

this morning commerce secretary snow seemed to think that it was actually a good thing for the chinese oil company to buy unocal; i believe he called it "a good fit" .

around 2 pm there was a brief interview with rep PAMBO (?) of texas(chairman of the house enegy committee ?) and a representative of the asian research council (a u.s. research institute). rep. pambo came close to calling the possible sale a national disaster - energy supply already on the low side , u.s. company and supplies falling into foreign hands - particularly chinese, that seemed a great problem to the rep from texas.
the respondent seemed to feel that this was no big deal since it represented only about a 1/2 % of current u.s. oil supplies. he also stated that aramco and the venezuelaen (state) oil companies aready had stakes in the u.s. energy companies. as an aside he mentioned that a russian oil company has gasoline retail stations in downtown washington; so he didn't think that letting the chinese have a piece of the u.s. energy pie was nothing to get exited about. besides, the chinese were paying a good price for unacol; therefor it's good for the u.s. economy.
mr greenspan had several days ago already endorsed the deal as good for the united states and good for free trade.
it's certainly ineresting to watch this from across the border. hbg

just read newsweek magazine (may 9 issue). it has a special report entitled : " CHINA'S CENTURY".
some interesting little tidbits :
-last year walmart imported $18 billion worth of goods from china; they have 6,000 suppliers , 80% are in just one country - and it isn't the united states.
-shopping : 60,000 supermarkets in china in 2003 and growing (only 10 years after the first one was opened).
-the future doesn't speak french : in u.s. homes chinese is the third most common language; there is a growing demand for chinese speaking teachers, highschools and elementary schools from california to maryland have started chinese language programs - and not just for chinese children.
-intel sponsored science and engineering fair(world's largest precollege science competion) attracted 65, 000 u.s. students trying to be selected for the finals; in china it was 6,000,000 students that entered the tryouts !

doesn't look like a flash in pan ! hbg

I think the huuuuuuge amount of our (US) debt China holds and our wanting them to buy more of it will play a large part in how this all unfolds.

This is not getting enough attention were losing the economic war.

chinese oil company
u.s. treasury secretary snow declares canada closest ally of united states
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i don't think tony blair will be happy to hear this pronouncement ... and quite a few canadians won't be happy about it either.
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here is what mr secretary had to say :

``We in the United States are looking to make ourselves more energy secure,'' Snow told reporters. ``To have our closest ally, Canada, with these resources available, with a natural market in the United States, it's a huge contributor to energy security for North America.''
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chinese oil companies have already made some sizeable investment in the canadian oilsands projects. it seems that canada now has "two closest allies" ... or more likely, we'll be between a rock and hard place !
what to do, do we learn to speak "american" or chinese ?
chopsticks, anyone ? hbg



...TREASURY SECRETARY SNOW VISITS CANADIAN OIL SANDS...

Sometimes free trade doesn't make much sense. This is one of those occasions. No way would I allow this to go through if I had a say in it. It's too strategically important.

I'm baffled by it. Not a difficult thing to do... baffling me, I mean. Just can't seem to grasp the upside.

Will hang around to see if anyone can make it more clear for me.

goodfielder : are you speaking of the americans or the chinese in this "menage-a-troi"(sp?).
btw u.s. government representatives have expressed quite openly - i have heard their comments on CNBC - that they see nothing wrong with chinese oil compny buying unacol (which may not go through, after all). i understand one of the reasons for possible approval is the fact the the chinese hold vast amounts of u.s. government obligations; this deal would make some of that money flow back into the u.s. hbg

The world superpower is not the U.S.A. it's R.O.W(Rest Of World)I think the rest of the world is cooperating together against what were capable of.If they can cripple us economically there off to a very good start

hamburger - I was referring to China getting a hold of US strategic interests and putting the position that it seems to me to be dangerous for the US to allow it.

There were similar arguments made about BP buying out ARCO and gaining the oilfields in Alaska. There was some outcry about a fogeign company owning oilfields here in the US but those who cried were compensated for their distress. To be fair BP did have to give up some the Alaskan fields.

britan is not china brother

Britain is not China but they are still a foreign country and that raised many concerns at the time. And now that one country has been allowed to do it it makes China's argument for the sale to go through harder to dismiss.