U.S. oil company Unocal Corp., voiced dismay on Wednesday over what he called "overreaction" from Washington by those portraying the deal as a threat to fair trade and U.S. national security.
Posted on 07/06/2005 6:44:02 PM PDT by crushelits
BEIJING, July 6 -- The chairman of CNOOC Ltd., the Chinese energy firm embroiled in a thorny campaign to purchase the
U.S. oil company Unocal Corp., voiced dismay on Wednesday over what he called "overreaction" from Washington by those portraying the deal as a threat to fair trade and U.S. national security.
In an interview with The Washington Post at CNOOC's headquarters in Beijing, Chairman Fu Chengyu said critics of his company's bid for Unocal were guilty of viewing China through an outdated lens by failing to appreciate how economic reforms have forced Chinese companies to adopt market principles and focus on profitability.
"They don't understand what has happened in China in the last 20 years," said Fu, speaking fluent if halting English. "Most of the concerns are related to politics and not the commercial side. I didn't expect that so many people would be so sensitive to this. We are following a system that was set up by Western leading companies, especially the United States. We are walking along a path that they paved, so we thought, 'This is natural.' " But Fu expressed confidence that CNOOC would eventually convince critics that its acquisition poses no menace.
"Our board has made the decision that we have to win this bid," he said.
As CNOOC continues its pursuit of Unocal, the conflict has become symbolic of the struggle by the United States to adjust to the implications of China's growing force in the global economy. Since CNOOC stunned markets last month with its unsolicited offer for Unocal, seeking to trump a lower bid from the U.S. oil giant Chevron Corp., a vocal segment of Congress has assailed the deal as a provocation in an already tense trade relationship between China and the United States.
(Excerpt) Read more at washingtonpost.com ...
No probrem.
Call back when China is a free country and Taiwan is recognized as an independent country.
Unocal has no monopoly on anything. They are simply an efficient player in the oil markets. It a symptom of how unsophisticated the Chinese are that they need Unocal "at any price" to get the know-how to play a bigger role in the energy world.
How does one say........
"Deeply saddened"...or...
"Deeply concerned"
in ChiCom?
Now, ask me if I care, you ChiCom Rat Bastar@
I wonder what the head 'Rat schmucks have to say on this. I have not seen / heard anything. I want to hear what "Pollissi" and "I learned everything from Tommy", Reid, and "I can get you the Olypmics" Hitlery - what do they have to say on this?
LVM
I bet Bill Gates would like to debate that statement.
LVM
Screw the Commie SOB's!
I bet the Taliban was dismayed with our reaction to 9/11.
(And Saddam is probably still wondering what he could've done differently in regards to "weapons inspectors".)
Here is the issue.
They are a government owned company. If they want to buy someone, they can outbid any private bidder if the Chicom government wants it badly enough through government subsidies.
There is no way we should allow the sale of Unocal to the Chinese government. Any promises they make are not worth the breath that forms them.
I have two examples:
"We promise not to use this advanced milling equipment to enhance our military aircraft."
"We promise not to use this satellite booster technology to advance our nuclear missle technology."
Yeah, right. Clinton should have been impeached for allowing both of those technologies to be given outright to the Communists with nothing more than promises not to militarize them.
He didn't mention that his board is the government of the PC.
Unocal used to own and operate the only commercially viable lanthanides mine in the US, in the vicinity of the Chocolate Mountains in the Mojave desert. Lanthanides are rare earths which have several unique and essential applications in military technology. Due solely to the totally corrupt machinations of Senator Feinslime several years back, Unocal was forced to curtail its lanthanides mining operations. At the time, the only other source for the rare earths in question was a mainland China company, a company by the oddest coincidence involved in business dealings with Feinslime's husband. It is possible that Unocal still holds the mineral rights to its Kali operation. If so, the sale of Unocal to the Chicoms would give them control of a natural resource critical to our national defense.
Only a dumbass would sell the Gulf oil Fields especially since the rice eaters already control the Panama Canal....
Jeeez....We are being encircled. The Chi-Coms are making a bid to corner the oil market, and the Russians are helping them to kill carriers.
Either the NKs will mortar Seoul our the ChiComs will attack Taiwan, and then they'll look at us and say:
"So what are YOU gonna do????"
Bill Gertz told KSFO's Barbara Simpson (2 July, Sat.) that American corporations in China are told that they must lobby Washington to represent the Chi-coms' interests. Otherwise they may not be allowed to continue to do business in China.
So far the notorious Rep. Jim Moran (D, Va) backs the sale of UNOCAL plus about twenty other elected "representatives" of U.S. citizens. See, http://www.goodbyejim.com and http://www.morantics.com. Only about twenty? (More lobbying, useful idiots!) I'd call that ball one.
The Chi-coms' White House connection is Mark McKinnon, former media advisor to Pres. Bush, who is Vice Chairman of Public Strategies. He is CNOOC's media adviser and lobbyist. That's strike one on us.
And how many times has the Committee on Foreign Investments, an inter-agency committee chaired by the Secretary of Treasury, said no? Strike two.
Mr. Gertz also told Ms Simpson and her listeners that Bush Administration policy makers are divided between pro-business and pro-national security. Business almost always wins over national security. Strike three.
The U.S. just struck out.
Good bye UNOCAL.
Thank you for reminding all about that. Lots of state Democrats made a bundle off those shenanigans as well as the lovely Mr. Feinstein, Richard Blum.
an overreaction about China ??
Naaaaa .. it's just that they have a history
What's Global Crossing?
What are you saying here?
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