Powder Blue Report

News, finance, politics, sports, and fun from the west coast

Wednesday, June 29, 2005

China's Bid For Unocal

Let's get one thing straight here. CNOOC's bid of $18.5 billion for Unocal is a brazen attempt by the Communist Chinese government to get at our energy reserves. The SEC should shoot this idea down cold turkey. This deal doesn't pass the smell test. It is also adverse for our national security. We are going to need all the oil we can in the coming years. China needs to develop its own resources without our help.


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