James Surowiecki: All the oil in China?

From The New Yorker, via A Glimpse of the World:

When the China National Offshore Oil Corporation, or cnooc, made an $18.5-billion bid for the American company two weeks ago, topping a previous offer of $16.5 billion from Chevron, a political storm was inevitable. The Chinese government owns seventy per cent of cnooc (pronounced “see-nook”), and, for many in Washington, China is a natural enemy in the making. Representative Joe Barton said that the deal “poses a clear threat to the energy and national security of the United States.” Representative Richard Pombo prophesied “disastrous consequences.” A host of congressmen argued that the Committee on Foreign Investments“a government body that vets corporate acquisitions by foreign companies with an eye toward national security”should investigate the deal.

Categories :

Tags :,

SUPPORT CDT

CDT on Twitter

Google Ads 1

CDT EBOOKS

Giving Assistant

Amazon Smile

Google Ads 2

Anti-censorship Tools

Life Without Walls

Click on the image to download Firefly for circumvention

Open popup
X

Welcome back!

CDT is a non-profit media site, and we need your support. Your contribution will help us provide more translations, breaking news, and other content you love.