From The New York Times, via A Glimpse of the World:
Lately there has been much grandstanding about the dangers of the bid by a government-backed Chinese oil company, Cnooc, for Unocal. But American protectionists are focusing on the wrong target.
It’s true that China could be a threat to American energy security some day, but not because it wants to buy an American company already on the block. Before American politicians intervene to make sure that Unocal’s Indonesian gas and oil fields remain in the hands of a U.S. corporation, they would do well to recall some history.
