"We talked about the war for oil, and it's implications."
There is a post in GD already talking about this, but China like we said would- is making her move.
I watched live last night on Cspan as the Gentlelady Senator from Alaska all but freaked out about this. Talking about how China isn't fair cus they don't play by our rules.
Soon enough, tensions are going to boil cus we aint gonna control Iraqi oil if they can't secure the state, and with China trying to buy up all the oil fields in Canada, and Russia fighting us for all the ish in Central Asia...shit.
China already has plans for a pipeline thru Canada and Khazikstan.
ALTERNATIVE ENERGY, BITCH.
They gonna have to get behind that shit, cus China AINT PLAYING.
China Oil Company Bids $18.5B for Unocal By JOE McDONALD, Associated Press Writer 6 minutes ago
BEIJING - China's third-largest oil producer made a hostile $18.5 billion bid Thursday for U.S. oil company Unocal Corp., marking the communist nation's most ambitious attempt yet to acquire a Western corporation and setting up a possible showdown with American politicians over national security issues.
The purchase by state-owned CNOOC Ltd., if completed, would be the biggest yet in a multibillion-dollar wave of foreign acquisitions by Chinese companies trying to secure a place as global competitors.
It comes amid a flurry of foreign oil and gas deals by China as its government, facing stagnant production at home, tries to secure energy abroad for its booming economy, already the world's third-biggest oil importer behind Japan and the United States.
The offer sets the stage for a possible takeover battle with Chevron Corp., reflecting China's new willingness to adopt Wall Street's more aggressive tactics. Chevron had offered to buy Unocal for a lower price of $16.6 billion — a proposal that Unocal's board already had accepted. Until recently, hostile takeovers by Chinese companies abroad were almost unheard of.
El Segundo, Calif.-based Unocal, the ninth biggest U.S. oil company, said it would evaluate the CNOOC offer, but that its board's recommendation to shareholders to accept the Chevron offer remained in place.
Such a deal, if it goes forward, will almost certainly meet obstacles in Washington. Even before CNOOC made its offer, two members of Congress appealed to President Bush last week to review it for possible security threats. They warned of China's "pursuit of world energy resources."
In Washington, Sen. Ron Wyden (news, bio, voting record), R-Ore., told a Senate Finance Committee hearing on China's currency system that a review by a federal panel for national security considerations would be imperative.
Treasury Secretary John Snow, who is head of the panel, responded: "It's hypothetical at this point because we don't have a transaction." But he added: "I would fully contemplate that the parties ... would want to avail themselves of that process. That is normally what happens on a voluntary basis."
CNOOC chairman and CEO Fu Chengyu insisted Thursday that national security wasn't an issue, calling it a friendly bid and saying it would be superior for Unocal shareholders.
"This transaction is purely a commercial transaction," he said in a conference call with reporters. "We are confident that the U.S. government will support this project."
Elsewhere, China has forged oil and gas deals in countries ranging from Sudan to Kazakhstan to Venezuela. Beijing is competing with Tokyo for access to Russian oil from a planned Siberian pipeline.
China used to meet its own needs from domestic oil fields but became a net importer in the 1990s and now is one of the world's biggest consumers, along with the United States and Japan.
The bid for Unocal is "a case of the Chinese trying to secure supply for their own purposes," said Daniel Hynes of ANZ Bank in Melbourne, Australia. "With their oil needs growing exponentially, securing this asset would put them in very good stead for the future."
In other industries, top state-owned Chinese companies recently have made a string of high-profile acquisitions abroad in an effort to establish a global presence.
CNOOC's offer is the biggest Chinese attempt at an unsolicited takeover of an American company — but not the first.
Appliance maker Haier Group and two U.S. private equity firms offered $1.28 billion for Maytag after the American company agreed to be bought by another U.S. firm. Maytag says it is considering the Haier consortium's offer.
Earlier, computer maker Lenovo Group Ltd. bought IBM Corp.'s PC business for $1.75 billion in a friendly deal that analysts said would expand the U.S. company's access to China.
Troubled British automaker MG Rover courted a Chinese firm as a possible corporate savior, trying to sell itself to state-owned Shanghai Automotive Industries Corp. But the Chinese partner decided against a deal and Rover collapsed.
CNOOC said its deal with Unocal would more than double its production and increase reserves by nearly 80 percent. The company estimated that 85 percent of the combined reserves of both companies are located in Asia and the Caspian Sea region.
Chevron offered in April to acquire Unocal in a deal that would give Unocal shareholders a choice of $65 per share in cash, Chevron stock or a mix of stock and cash.
Chevron, based in San Ramon, Calif., reaffirmed its bid, saying its offer "combines compelling value, regulatory certainty and accelerated timing, providing a superior transaction for Unocal stockholders."
Chevron noted that a deal with CNOOC would require new regulatory reviews in the United States and elsewhere.
CNOOC's chief financial officer, Yang Hua, told Dow Jones Newswires that his company is "prepared to closely cooperate ... to get U.S. approval for this deal." The company plans to retain "substantially all employees, including those in the U.S," noting that Chevron, in contrast, plans layoffs, he said.
"We believe the offer will be very good for America as we are going to protect U.S. jobs while continuously marketing (Unocal's) products in the U.S.," Yang said.
1. "RE: We talked about the war for oil, and it's implications." In response to Reply # 0
>There is a post in GD already talking about this, but China >like we said would- is making her move.
China making her move?!? you seem like an intelligent brother....I don't understand why you're wasting your time with this...
> >ALTERNATIVE ENERGY, BITCH. > >They gonna have to get behind that shit, cus China AINT >PLAYING. > >First IBM, now this:
again, all this focus on china.....shit kills me....first off, let me point out that I have quite a few chinese friends and taiwanese friends as well. Secondly, I am well scholared on chinese history, as I have done much reading and research on my own, have taken many classes on eastern history and philosophy in college, and have talked to many people from there, who travel back and forth frequently.
Yes, there is A Chinese nationalist movement going on. Yes, China has spent some money buiding up their military......but, who cares......china has 1.5 billion people!!!!!! could you imagine the U.S. with 1.5 billion people?!?!?!? and we have the space for them.....we would not have been able to acheive what they have done in the previous 20-30 years as far as their economy growing. Hey, look at everything you own, made in China.....we are the ones that exploit their cheap labor.....
what kills me is everywhere i look i see an entire news magazine devoted to the rise and potential threat of China. Time, Newsweek, Atlantic Monthly, The New Yorker......all trying to divert eyes away from what is really going on......what we are doing in the middle east, etc
Sure, China has had a violent history, but they have always kept their shit internal. Look how many times Japan has attacked them. Look at the Boxer Rebellion...they only fight when they have been attacked....look at the korean war, when american troops ventured too far into china.....look at genghis khan....marco polo...look at their history....They are people who will not attack unless provoked
......the only conflict which is controversial is taiwan....and Taiwan is a poor model of trying to rely on the West for help. I understand their plight and am with them....but, its also a complex situation...
again, the problem with all the reports and books written on China is that they are written by americans, who are used to their government invading countries for their own selfish reasons, attacking for greed, power, with imperialism and colonialism on their mind.............this is not the way the chinese people think....., i understand you can argue that the leaders of China have different plans, but I don't see it......China might be selfish with wanting to take care of their own country first, but so what.....maybe this is something we can learn from........
I heard a colleague say last week, wow look at how much china is spending on defense.....and the irony kills me.....it isn't a 1/100 of what we spend....and they have 1.5 billion people.
again, its the cold war all over again...don't believe the hype
8. "i think you and I agree in alot of ways." In response to Reply # 1
I don't think the threat is bullshit. I don't really think of it as a threat. I think of it as a catalyst and I am worried as to what our reactions will be to secure oil, secure our economic future here in America. There is alot of pressure being brought to bear right now.
We were trying to lock the Chinese out of the oil game so they would have to come thru us. This has been National energy policy since 1997. Part of this was to help balance the fact that they own alot of our debt, and they are facilitating the real estate boom in the US..shit they own half of Atlanta. This is curious only because we were trying to exploit their investment dollars and still freeze them out of the energy game cus we looked at them as another market- not a player.
We were hedging our bets in the Oil market. Well, that's in danger now and I wonder what that means for world specifically East Africa, Central Asia, and Canada, South America, Alaska, and the Middle East.
Could get ugly.
I'm thinking aobut the recent elections world wide. I'm thinking about the attempt to repeal the 22nd amendment here at home.
I'm thinking of Gaza, and of the global situations we are looking at and how much Oil plays a part in this. It really makes the world go round right now.
11. "I understand where you're coming from now........." In response to Reply # 8
>I don't really thinkof it as a threat. I think of it as a catalyst and I am worried as to what our reactions will be to secure oil, secure our economic future here in America. There is alot of pressure being brought to bear right now. >
I hear you, and its good for us to be worried about what our government's reactions will be. It shows that we are paying attention.
>This is curious only because we were trying to exploit their >investment dollars and still freeze them out of the energy >game cus we looked at them as another market- not a player.
Again, the whole world is not ours to play with.....this is not a game of chess....this is land, these our historical civilizations(Iraq, etc).....these are billions of people's lives....no doubt we underestimated the chinese people, but what do you think is going to happen. It was inevitable that The Chinese would start buying more cars. Again, there's 1.4 billion people there! We are the ones who abuse the use of oil
>We were hedging our bets in the Oil market. Well, that's in >danger now and I wonder what that means for world specifically >East Africa, Central Asia, and Canada, South America, Alaska, >and the Middle East.
You're damn right its in danger.....as i'm sure we both agree, this is what stemmed our interest in the middle east going back some 50 years.
>I'm thinking aobut the recent elections world wide. I'm >thinking about the attempt to repeal the 22nd amendment here >at home.
so am i > >I'm thinking of Gaza, and of the global situations we are >looking at and how much Oil plays a part in this.
Oil is part of the reason for the U.S. government's role in Gaza and Israel/palestine, but its only a part.......The Christian Right has spent a lot of money backing the Republicans And the Democrats.....the cristian right and the hard line isrealis will get what they want in the end (Palestinians forced out to Jordan, while wiping half them out)....well, thats their plan.....the right wing christians for their book of revelations beliefs, the hardline isrealis because of their zionist beliefs, and US politics (our government) because we know the stakes are high as far as the economy (oil) goes.......we use israel and israel uses us
>So...this IS a big deal. HUGE.
ok, I agree with you.......I'm more interested into looking into alternative ways oil/energy as well.....
I think we do see things the same way, I am just annoyed at the bombardment of American mainstrem news portraying China as a threat
exactly......i guess this calls for a preemptive strike.....lol...it also pisses me off because the US press is making ridiculous statements with no hardcore facts. and they're trying to make americans feel better (also themselves) about what our country is doing with military spending by comparing it to what china is doing. its a joke and an embarrassment.
6. "huh?" In response to Reply # 3 Mon Jun-27-05 12:44 PM by FireBrand
activism is what, exactly?
We talk about economic concerns and how that dictates International politics. Every international incident is an economic one IMO, so this is VERY important if you want to keep a pulse on:
1.) The war in Iraq and America's policy. 2.) The elections in Iran 3.) Central Asian Politics. 4.) Canadian/US Relations. 5.) ANWAR 6.) Globalisation 7.) Global and local Gentrification. 8.) Prison abuse/Human rights issues. 9.) Japanese/US relations post contagion
Maybe you didn't check out the post I'm alluding to in the archives:
Let's go 'head an consolidate all these so called "conspiracy theories" and posts concerning America's policy on energy.
All Syria, Iran, Central Asia, Iraq, Russia, China, and North Korea posts can be housed here.
First let me say that I don't believe that America's current policy is Bush's doing alone. America has LONG held an energy vision who's goals could only be met by the actions in both Clinton's and Bush's administrations.
I beleive this is a policy that will extend into the next 40 or 50 years, and that any side money Bush and his family might be making is only icing on the cake.