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Democrat Sen. vows to try to stop China-Unocal deal (Republican - 'Congress shouldn't get involved')
Yahoo News ^ | 7/15/05

Posted on 07/15/2005 5:48:17 PM PDT by Libloather

Senator vows to try to stop China-Unocal deal
By Richard Cowan
2 hours, 42 minutes ago


A Democratic senator said on July 15 he would try to get the Senate to pass legislation blocking the sale of Unocal to Chinese oil company CNOOC as it was against U.S. national interests. Sen. Byron Dorgan of North Dakota said he was considering attaching his proposal to a foreign operations spending bill being debated by the Senate on July 15 and next week or to another bill. An aide delivers a message to Senator Dorgan (R) at the start of a hearing, November 3, 2003. (Kevin Lamarque/Reuters)

WASHINGTON (Reuters) - A Democratic senator said on Friday he would try to get the Senate to pass legislation blocking the sale of Unocal to Chinese oil company CNOOC as it was against U.S. national interests.

The U.S. House of Representatives, by an overwhelming 333-92 vote on June 30, approved legislation to block any Bush administration approval of the proposed deal.

Sen. Byron Dorgan of North Dakota said he was considering attaching his proposal to a foreign operations spending bill being debated by the Senate on Friday and next week or to another bill.

Dorgan serves on a Senate Appropriations subcommittee that is scheduled to meet on Tuesday to consider funding for the Treasury Department next year. The House-passed prohibition on CNOOC's acquisition of Unocal was attached to a Treasury spending bill. Dorgan aides were not available to comment on whether he might try to do the same on the Senate version.

But at least one important Republican thinks Congress should not get involved.

On Wednesday, Senate Appropriations Committee Chairman Thad Cochran told Reuters he was opposed to any legislation blocking the deal and noted that the administration had the power to stop CNOOC, a state-controlled entity, if it concluded the acquisition would hurt the United States.

"Our strategic and economic national interest is not served by allowing this to happen," Dorgan said of the attempt by CNOOC Ltd to acquire Unocal Corp. .

But Dorgan said his concerns also were rooted in what he sees as an unfair playing field in China for U.S. firms. "There is not and would not be reciprocal treatment if a U.S. oil company or a U.S. company wanted to buy a Chinese company. It wouldn't happen," Dorgan said.

The Treasury Department heads an inter-agency panel called the Committee on Foreign Investments in the United States (CFIUS) that would conduct an economic and security review if Unocal were to accept CNOOC's proposal.

CNOOC's offer of $18.5 billion in cash to acquire the California-based Unocal topped a $16-billion-plus cash and stock offer that Unocal had already accepted from Chevron Corp. .

In seeking to block the merger, Dorgan said he was not delivering a broader anti-China message.

"We must trade with China," Dorgan declared. "The free flow of commerce and market capital is important and I understand that. This amendment is not in any way an attempt to send a message beyond this message," Dorgan added.

House Republicans unveiled legislation on Thursday that would give the Commerce Department more power to slap duties on Chinese goods, heap more pressure on China to revalue its currency and set up a more rigorous U.S. monitoring system of China's trade commitments.


TOPICS: Culture/Society; Foreign Affairs; Government; News/Current Events; Politics/Elections
KEYWORDS: 109th; china; deal; democrat; disagrees; republican; senator; stop; unocal; vows
Bizarro world...
1 posted on 07/15/2005 5:48:18 PM PDT by Libloather
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To: Libloather
House Republicans unveiled legislation on Thursday that would give the Commerce Department more power to slap duties on Chinese goods, heap more pressure on China to revalue its currency and set up a more rigorous U.S. monitoring system of China's trade commitments.

They'll probably nuke us for that too.

2 posted on 07/15/2005 5:55:05 PM PDT by Coyoteman
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To: Libloather

I agree with Cochran. Dorgan has no idea what our strategic interest is. He's just grandstanding.


3 posted on 07/15/2005 5:55:57 PM PDT by Brilliant
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To: Libloather

So long as China is Red, they should have no controlling interest in ANY part of America. What part of this doesn't Capitol Hill understand?


4 posted on 07/15/2005 6:00:03 PM PDT by Prime Choice (Embrace all who seek the truth. Beware all who find it.)
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To: Libloather

They just threatened they would nuke us over Taiwan and we are going to allow them to control our oil supply ? WTF !


5 posted on 07/15/2005 6:01:03 PM PDT by John Lenin (Liberalism is a treatable disease, but first you must admit you are sick)
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To: Brilliant

Would you please explain what our strategic interests are?


6 posted on 07/15/2005 7:40:20 PM PDT by Abcdefg
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To: Libloather
"Our strategic and economic national interest is not served by allowing this to happen," Dorgan said of the attempt by CNOOC Ltd to acquire Unocal Corp. .

Was he in CONgress when clintoon was giving missle technology to the chi-communists?

7 posted on 07/15/2005 7:54:32 PM PDT by feedback doctor (If you won't love the least of people, then you can't love any people)
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To: Libloather
It gets worse...

"President Bush's top independent intelligence adviser, James C. Langdon Jr., met last winter with investment bankers in China to help secure his law firm's role in lobbying for a state-run Chinese energy firm and its bid for the U.S. oil company Unocal Corp." (7/13/05,WP)

NOTHING has changed on China from Clinton to Bush.

8 posted on 07/15/2005 8:09:14 PM PDT by montag813
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To: Libloather
Listen to this!

Also see

If this doesn't sheld some light on the TREASONIST Bill Clinton, I don't know what will! His is a scalp worth taking. See the following free republic post by Alamo-Girl for the information below:
9 posted on 07/15/2005 8:18:24 PM PDT by Yosemitest (It's simple, fight or die)
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To: montag813
URL, please. Thank you.
10 posted on 07/15/2005 9:07:27 PM PDT by Chgogal (Egyptian Jihadist, "Psssst....we're running out of virgins. Spread the word.")
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To: Chgogal
URL, please. Thank you.

Bush Adviser Helped Law Firm Land Job Lobbying for CNOOC

11 posted on 07/15/2005 9:26:05 PM PDT by montag813
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To: montag813

Other intersting quotes from the WP article.

"Wayne L. Berman, a principal lobbyist for Chevron, is a Bush "Ranger," having raised at least $200,000 for the president's campaign. His wife, Lea, is the White House social secretary."

"Langdon met with CNOOC's investment banking partner, Goldman Sachs Group Inc., in February, marshalling a long friendship with Beijing-based Goldman executive William Wicker to help win his law firm's lobbying contract, Akin Gump officials confirmed. They say he recused himself in late March from further involvement in the matter, either for Akin Gump or the PFIAB."

Hmmmm....the big guys working for big dollars. Wonder if they are worried about their grandchildren having to fight and having to win WWIV in the near future. I'm assuming their grandchildren are or will be Americans.

"The President's Foreign Intelligence Advisory Board was established in 1956 to provide the president independent advice on the effectiveness of U.S. intelligence agencies. Past chairmen include retired Air Force Lt. Gen. Brent Scowcroft, Republican former senator Warren B. Rudman, Democratic former House speaker Thomas S. Foley, former defense secretary Les Aspin and top foreign policy adviser Clark H. Clifford."

Well this list of "advisors" is NOT that impressive. Big shots with big egos. None of them will go down in history for big ideas or visions. That is NOT comforting.

Two other articles that you may be interested in.

http://www.freerepublic.com/focus/f-news/1432278/posts
http://www.weeklystandard.com/Check.asp?idArticle=5778&r=mipgn


12 posted on 07/15/2005 9:54:49 PM PDT by Chgogal (Egyptian Jihadist, "Psssst....we're running out of virgins. Spread the word.")
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