Holy crap! China in bidding war with Chevron over Unocal ($18.5B)

[underpants]

http://www.smh.com.au/news/business/china-bid-for-unocal-triggers-us-oil-fears/2005/06/23/1119321850996.html?oneclick=true



A major Chinese oil company has made a landmark offer to buy Californian company Unocal Corp for $US18.5 billion ($23.7 billion), topping a bid by rival US oil giant Chevron and setting the stage for an intense political debate over the future of US energy, security and trade policies.

The unsolicited offer by CNOOC Ltd, an arm of state-owned China National Offshore Oil, is the most dramatic example yet of China's growing influence in global markets and would be China's largest foreign acquisition by far.

The proposed buyout could raise hackles in the United States, which is heavily dependent on foreign oil. China's fast-growing economy is consuming ever-larger amounts of crude, which is helping to drive the price to record heights, and CNOOC wants to add Unocal's assets to its energy reserves.

But Fu Chengyu, CNOOC's chairman and chief executive, said his company's $US67 a share cash bid "is a good offer for Unocal" and "it is good for America".

[ooglymoogly]

1. this is just a preamble on how americas humongous debt to

countries like china and the pacific rim is about to be turned on itself.

[blurp]

6. Just the opposite.

This money can be lent to our government or used to buy this oil company.

Both will make a profit. It's just that the Chinese think the oil company will make more money than the interest on the priciple if lent to the US government.

If anything, our debt AND this purchase both point to a larger problem: our industry is in decline.

[ooglymoogly]

11. the point is our insatiable need for chinese and other pacific rim

manufactures is giving the chinese and others the immense capital needed to compete against a weakened america for vital world resources and this bold move is just a preamble of things to come. resources and property for a falling dollar that is held by the chinese, japanese and other pacific rim manufacturers. in other words not selling their holdings in the dollar but cashing them in for hard assets and thereby eroding the dollar even further.

[norml]

2. You mean Chevron Texaco. They merged a few years ago. Rice was with them.

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[norml]

3. There seems to be some dirt here, for anyone who cares to look.

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[Village Idiot]

4. One interesting note no one has picked up on yet:

Unocal owns the lease rights to a HUGE portion of the Athabaska Tar Sands project in Alberta, Canada.

Canada is the #2 exporter of Oil and Gas to the USA...

If you want to squeeze somone, the best place to start is "by the BALLS!"

[underpants]

5. Ooh that is scary

When your banker can control (let's say) the heat to your house-you are screwed

[norml]

7. U.S. ambassador to Afghanistan may be headed to Iraq (Unocal connection)

Posted on Mon, Jun. 20, 2005


U.S. ambassador to Afghanistan may be headed to Iraq

BY KIM BARKER

Chicago Tribune


KABUL, Afghanistan - (KRT) - Zalmay Khalilzad worked the room, shaking one more hand, answering one more question about Osama bin Laden, drinking one more cup of tea. He was at home here, the local boy made good, the U.S. ambassador to his country of birth.

But after a sometimes controversial 18-month tenure, Khalilzad is leaving. Not for some cushy desk job but, if the Senate approves, for a post that can only be described as challenging - U.S. ambassador to Iraq.



snip



He was no armchair ambassador. But because of this, Khalilzad also faced criticism. He was accused of meddling in Afghanistan's affairs, of interfering in the constitutional process, of twisting arms during the presidential election, of controlling Karzai, of swaying the format of this year's parliamentary elections. Some Afghans dubbed Khalilzad "the viceroy," the term used for India's British colonial leaders.



snip



Khalilzad, who has held many government positions as well as working for the RAND Corp. think tank and consulting with the Unocal oil and gas corporation, earned his doctorate from the University of Chicago. He is an expert on the Middle East and Iraq, having served as the special presidential envoy to Iraq.




snip




http://www.kansascity.com/mld/kansascity/news/world/11942765.htm

Go to this link instead. http://news.google.com/news?q=condoleezza%20rice%20unocal%20khalilzad%20&hl=en&lr=&sa=N&tab=wn

[norml]

8. Former Unocal Official Zalmay Khalizad vows to crush Iraqi resistance

Wednesday 22nd June 2005 (00h03) :
Former Unocal Official Zalmay Khalizad vows to crush Iraqi resistance
3 comment(s).
New US ambassador vows to crush Iraq’s insurgency
by Beth Potter- Baghdad

The new US ambassador to Iraq said Tuesday he would work with the population to crush the insurgency that is throttling much of the country despite massive operations against the rebels.

"I will work with Iraqis to break the back of the insurgency," said Zalmay Khalilzad, who presented his credentials to President Jalal Talabani on the way to Brussels for an international conference on rebuilding Iraq.

"Foreign terrorists and hardline Baathists want Iraq to be in a civil war," Khalilzad told reporters, referring to members of former Iraqi president Saddam Hussein’s Baath Party.

"Foreign terrorists are using Iraqis as cannon fodder."



snip







snip



http://bellaciao.org/en/article.php3?id_article=6569

[norml]

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[SoCalDem]

10. We owe them tons of money, and they have a lot of muscle

Hostile takeovers are just the start of it..

Game Over...China wins..