If China Buys Unocal ...

[NashVegas]

Some people are, rightly, calling this a national security issue.

But it ain't because of the oil and gas. The overwhelming majority of Unocal's holdings are in Asia, and the Chinese company is talking about spinning off the US assets.

The security issue is not what's in the ground, it's what's in Unocal's files. This is the company that was going to build a pipe through Afghanistan, and this is the company Hamid Karzai and at least one current Afghan poobah came from. The security issue, IMO, is what shit is gonna hit the fan if / when an outside, competing government gets its hands on documentary evidence of what we've been up to over there.

[Kraklen]

1. Hey, can't complain about communism...

and then whine when they turn capitalist and start buying you out.

[lonestarnot]

4. Already have a fire sale on sovereignty now!

[leftchick]

2. The new US Ambassador to Iraq is a Unocal toady as well

let the shit hit the fan!



The new U.S. Ambassador to Iraq, Zalmay Khalilzad, is sworn in at the U.S. Embassy in Baghdad, June 21. (©AP/WWP)

[shraby]

3. Ding Ding.....we have a winner!

Unocal was also involved in Azerbaijan.

[getmeouttahere]

5. Let's see, they are already propping up our economy....

if not before, but certainly after, the Unocal purchase, better learn to speak Mandarin!

[ClintonTyree]

6. Yep....

if they sell all the bonds they hold and buy Unocal, cut it up, sell it off and deny the U.S. oil....they've won the war without ever firing a shot. The U.S. would be totally screwed and we certainly don't have the resources to invade China. Game over. Thanks, bush and pals.

On edit; remember, deficits don't matter! ;)

[pilgrimsoul]

7. Damn, the Chinese are smart

They know that despite *co's sanction threats to stop them from buying Unocal, chimpy doesn't dare do shit about it. China has them by the balls and they know it. They have the power to collapse our entire economy with one phone call. The smarter people on the hill know this is no time to piss off the Chinese. No wonder Snow and Greenspan were so quick to make press statements today advocating diplomacy in response to *co's sanction threat. To me, this is very telling.

One thing is certain: whether the Chinese wind up buying Unocal or not, it will cost America big. If *co manages to keep Unocal US-owned via diplomatic means, they're going to have to dangle something pretty fucking big and shiny in front of the Chinese to get them to back off. And if they let China buy Unocal, then we will all know that America is officially fucked and China's economic coup of the US is now complete.

[Must_B_Free]

9. But Bush is a good checkers player

As long as he starts out with all kings...

[oneold1-4u]

11. They can have us, the US that is

They will take care of terrorism in short order. The regime in power today would be considered terrorists!

[socalover]

8. Is that why China is buying US $ and financing our debt?

To have us by the balls?

[NashVegas]

10. Something Like That

Someday these GATTers are going to wish they'd let sleeping dogs lie.

[oneold1-4u]

12. Better

Them than Saudi Arabia which has a good hold already!
They may have something worse than Osama and taliban but it's is doubtful.