Wednesday, July 13, 2005

Chinese bid for energy resources

Last week's question: should US erect barriers to Chinese ownership of US resources and if so, how?  There were no takers on the question, but Congressional hearings started today.  Link: Critics see security threat in China oil bid - Yahoo! News

The Washington Post reports that the Chinese are moving in on oil companies because they fear US hegemony of Middle East oil resources.  Explaining China's Interest in Oil Companies.

China is also reportedly offering assurances that it will not back off of its offer based on U.S. government review.  UNOCAL board offered assurances

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