[steveegg]

Why am I worried about the ChiComs buying Unocal? Let me count the ways...

1. Onocal has the rights to much of the oil in the Gulf of Mexico. Much of what we produce on our own for the cost of production comes from there (and the cost of production in the Gulf is cheap compared to Alaskan oil).
2. CNOOC is owned and controlled by a government that alternately views the United States as a hostile enemy. That same government that wants total control of Unocal refuses to let any foreign entity hold a majority stake in any joint ventures in Red China.

Care to guess what would happen to those Gulf oil wells if we honor our committment to Taiwan when the ChiComs move on them (or, perhaps when the ChiComs finally make a play for the Spratly Islands oil, or maybe if Krazy Kim is crazy enough to restart the Korean War)?

[CodeRouge]

CNOOC is owned and controlled by a government that alternately views the United States as a hostile enemy. That same government that wants total control of Unocal refuses to let any foreign entity hold a majority stake in any joint ventures in Red China.

Update: That same government now vows to use nuclear weapon against US to counter US's conventional weaponry. Later the ChiCom government refused to retract the statement:

http://www.freerepublic.com/focus/f-news/1444082/posts