I was watching Lou Dobbs on CNN a few nights ago, and I was happy to see Lou have the guts to call American corporations and the Bush administration on the carpet for exporting jobs to other countries. Of course the problem runs much deeper than just exporting jobs. The problem is actually the exporting of our national sovereignty to communist countries who would cut our throats if they had the chance.
On July 1st, Chinese President Hu Jintao and Russian President Vladimir Putin met in Moscow and reaffirmed their friendship. Both leaders warned the United States not to attempt to dominate global or other countries' domestic affairs. This being said, do you still think its a good idea to sell a US oil company (Unocal) to a communist government?
In an interview with Texas (R) Congressman Joe Barton, Mr. Barton said that " under current Chinese law, a US company can't have a controlling interest in a company in China. The Chinese government is providing, in the form of a loan, the $18.5 billion to purchase Unocal. The US government couldn't loan Exxon $18 billion." "I mean, it's farcical on the face that we should sit by and let what is purported to be just a pure commercial transaction happen, when, in effect, this is a strategic decision."
Good for you, Mr. Barton. He also went on to say, " they understand that it's not in our strategic interests to let a front company for the communist Chinese purchase a strategic asset, which in this case would be oil reserves and pipelines in the United States."
To add fuel to the fire, the Chinese foreign ministry "demanded that Congress "correct its mistaken ways" and stop interfering in the proposed takeover of the Unocal oil corporation by China's state-owned CNOOC Ltd." They also went on to say, "We demand that the US Congress correct its mistaken ways of politicizing economic and trade issues and stop interfering in the normal commercial exchanges between enterprises of the two countries."
My best guess is that Chevron will end up getting Unocal, and the Chinese will be very upset. So be it. The hell with them.
