China bids for Unocal (76)
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China bids for Unocal (76)
From SacBee.com:
By Deb Kollars -- Bee Staff Writer
Published 2:15 am PDT Wednesday, June 29, 2005
<snip...>
"After years of building up a massive manufacturing machine and selling low-priced goods to America and other nations, China is now using its bulked up bank accounts to go on a buying spree in the United States.
The country's most recent move came last week when a state controlled Chinese oil company, CNOOC, made an eye-popping $18.5 billion offer to buy El Segundo-based Unocal Corp. The unsolicited bid was viewed as highly aggressive, because another California-based oil giant, Chevron Corp. of San Ramon, already had a deal in place to buy Unocal for nearly $16.6 billion.
The bid, which is expected to undergo federal scrutiny over national security concerns about who controls the world's oil, followed two other recent high profile moves by China."
<snip...>
What does this mean to the U.S. economy or to the consumer at the pumps? I have no idea. But I would like 100 octane unleaded to be made more widely available at the pump with a price differential of 40% or less.
--
0==WW==0
"…axles of evil…" - george w. bush
By Deb Kollars -- Bee Staff Writer
Published 2:15 am PDT Wednesday, June 29, 2005
<snip...>
"After years of building up a massive manufacturing machine and selling low-priced goods to America and other nations, China is now using its bulked up bank accounts to go on a buying spree in the United States.
The country's most recent move came last week when a state controlled Chinese oil company, CNOOC, made an eye-popping $18.5 billion offer to buy El Segundo-based Unocal Corp. The unsolicited bid was viewed as highly aggressive, because another California-based oil giant, Chevron Corp. of San Ramon, already had a deal in place to buy Unocal for nearly $16.6 billion.
The bid, which is expected to undergo federal scrutiny over national security concerns about who controls the world's oil, followed two other recent high profile moves by China."
<snip...>
What does this mean to the U.S. economy or to the consumer at the pumps? I have no idea. But I would like 100 octane unleaded to be made more widely available at the pump with a price differential of 40% or less.
--
0==WW==0
"…axles of evil…" - george w. bush
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I thought Conco Phillips just bought Unocal recently? Isn't that why all of the Unocal stations switched to red circles instead of orange ones?
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I can't believe our gov't hasn't sent PRC a big "fock you!"
IIRC, Unocal has some/most of it's oil holdings in the greater Asia region of the world.
If PRC gets Unocal, all that oil will be sucked up by PRC's war machine.
IIRC, Unocal has some/most of it's oil holdings in the greater Asia region of the world.
If PRC gets Unocal, all that oil will be sucked up by PRC's war machine.
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Originally Posted by Oaf
I can't believe our gov't hasn't sent PRC a big "fock you!"
IIRC, Unocal has some/most of it's oil holdings in the greater Asia region of the world.
If PRC gets Unocal, all that oil will be sucked up by PRC's war machine.
IIRC, Unocal has some/most of it's oil holdings in the greater Asia region of the world.
If PRC gets Unocal, all that oil will be sucked up by PRC's war machine.
If the deal goes through I will never buy from Unocal again. I urge you and those around you to do the same.
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Origami posted by Salty
If the deal goes through I will never buy from Unocal again. I urge you and those around you to do the same.
If the deal goes through I will never buy from Unocal again. I urge you and those around you to do the same.
--
0==WW==0
"…axles of evil…" - george w. bush
