China is to bid on buying Unical oil co. Isn't that the Co that's to put

[napi21]

the pipeline across Afghanistan?

[SoCalDem]

1. Unocal was involved pre-9/11..don;t know about now..

Karzai used to be an exec at Unocal..

[Gabi Hayes]

2. yep....10 percent share with BP....I read abou it in WSJ yesterday

it's the third largest oil company in China

they're offering TWO BILLION dollars more for Unocal than whichever company is trying to buy them out now

and CASH

a much much better deal than the one they're offered

should be very interesting

[napi21]

3. Interesting, but very frightening!

If China owns their own oil company, won't that give them a very big advantage over most other countries, including the US?

[SoCalDem]

4. Owning them hasn't helped us much, has it?

:)

[napi21]

5. Well, I don't know. Gas in the US is still much cheaper than it is in

Europe. I heard (who knows if it's true) that China is expanding at a fast pace and rapidly becoming a large consumer of available oil. Personally, I'm all for an alternate fuel so we can tell these folks to go play in someone elses yard, but it seems I'm still in a small minority. I have to believe there's an advantage to owning your own oil company and being one of the bidders with enough $$ to get what you want.