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CHINESE OIL COMPANY INTERESTED IN UNITED STATES OIL COMPANY

 
 
Reply Thu 23 Jun, 2005 08:00 pm
at 6 pm i was listening to the business news on CBC-TV. of course, the price of oil was in the news. it was also mentioned that that the chinese state oil company CNOOC is interested in buying the american UNACOL oil company.
the real surprise came when it was stated that the chinese had retained the services of dr. henry kissinger and that he had joined the "advisory board" of the chinese state oil company CNOOC.
i found that a little hard to be believe, but apparently the story is old hat.


excerpt from the full article by the BBC :
"Running a Chinese oil company is a highly political business, and successful oil mandarins tend to have their eye on plum government jobs.

"Their attention is divided, let's say," is how one analyst puts it.

But CNOOC bosses have impressed. They talk fluent industry jargon, wooed Henry Kissinger onto their advisory board, and have a $4.3bn petrochemical project with Shell that is China's biggest joint venture investment."

... nice work if you can get it , henry ! ...


...KISSINGER JOINS CHINESE ADVISORY BOARD...
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hamburger
 
  1  
Reply Fri 24 Jun, 2005 02:26 pm
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...
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InfraBlue
 
  1  
Reply Fri 24 Jun, 2005 10:58 pm
Did they learn Japanese when the Japanese were supposed to have been taking over the US?
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Mr Stillwater
 
  1  
Reply Sat 25 Jun, 2005 02:31 am
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....
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hamburger
 
  1  
Reply Sun 26 Jun, 2005 07:22 pm
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
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Mr Stillwater
 
  1  
Reply Tue 28 Jun, 2005 05:25 am
Quote:
successful oil mandarins tend to have their eye on plum government jobs


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!)
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hamburger
 
  1  
Reply Tue 28 Jun, 2005 01:25 pm
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
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hamburger
 
  1  
Reply Tue 28 Jun, 2005 01:28 pm
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
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hamburger
 
  1  
Reply Wed 29 Jun, 2005 06:28 pm
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
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BlaiseDaley
 
  1  
Reply Tue 19 Jul, 2005 05:52 pm
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.
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Amigo
 
  1  
Reply Tue 19 Jul, 2005 06:25 pm
This is not getting enough attention were losing the economic war.
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hamburger
 
  1  
Reply Tue 19 Jul, 2005 07:49 pm
chinese oil company
u.s. treasury secretary snow declares canada closest ally of united states
------------------------------------------------------------------------------------- -----------------------------
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.
-----------------------------------------------------------------------------------------------------------------------
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.''
-------------------------------------------------------------------------------------
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...
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goodfielder
 
  1  
Reply Tue 19 Jul, 2005 07:56 pm
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.
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squinney
 
  1  
Reply Tue 19 Jul, 2005 08:03 pm
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.
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hamburger
 
  1  
Reply Tue 19 Jul, 2005 08:04 pm
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
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Amigo
 
  1  
Reply Tue 19 Jul, 2005 08:06 pm
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
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goodfielder
 
  1  
Reply Tue 19 Jul, 2005 09:16 pm
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.
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BlaiseDaley
 
  1  
Reply Tue 19 Jul, 2005 11:35 pm
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.
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Amigo
 
  1  
Reply Wed 20 Jul, 2005 01:23 am
britan is not china brother
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BlaiseDaley
 
  1  
Reply Wed 20 Jul, 2005 09:38 am
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.
0 Replies
 
 

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