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Should Congress head off China's unocal bid? Oil supply shouldn't be allowed to fall under the control of foreign forces.


When Richard Nixon made his historic voyage to the People's Republic People's Republic
n.
A political organization founded and controlled by a national Communist party.
 of China in 1972, his actions coincided with a renewed hope for mutual cooperation between our two countries.

Over 30 years later, however, the economic greed and corporate insatiability of communist China has weakened this sense of hope and undermined the cooperation between our countries. Unfortunately, the latest example of this gluttony Gluttony
See also Greed.

Belch, Sir Toby

gluttonous and lascivious fop. [Br. Lit.: Twelfth Night]

Biggers, Jack

one of the best known “feeders” of eighteenth-century England. [Br. Hist.
 is occurring fight here in California, where the Chinese government Ever since Republic of China founded in January 1st, 1912, China has had several regional and national governments. List
  • Chinese Soviet Republic
  • Provisional Government of the Republic of China
  • Reformed Government of the Republic of China
 is angling for acquisition of a critical United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area.  energy company.

In recent years, China has been scouting the globe buying foreign oil firms and making deals to secure energy reserves to feed its growing economy. Now their sights have become firmly fixed on Unocal Corp., which, as America's ninth largest oil company, produces 159,000 barrels of oil and more than 1.5 billion cubic feet of natural gas per day. If we are not careful, the potential acquisition of El Segundo-based Unocal by China National Offshore Oil Corp. will not only leave America's energy supplies dangerously inadequate, but it will also seriously damage our national security.

As the Middle East has become an increasingly volatile source of foreign oil, the United States has made it a point to diversify the countries from which we import oil and gas. Canada, Russia, Venezuela and Mexico have all become important suppliers. Now, in many of these countries, Chinese firms are pumping oil and natural gas in areas that the United States was counting on to meet our own demand.

In Canada, Chinese firms have signed three deals this year to tap Alberta's vast oil-sands reserves and to join a pipeline venture to bring crude oil to the Pacific coast, where it can be shipped to China. Now the Chinese have turned their sights south toward the United States. If we allow CNOOC CNOOC China National Offshore Oil Corporation  to proceed with the acquisition of Unocal, we may only further weaken our domestic energy supply at a time when our foreign energy resources are becoming increasingly limited.

This acquisition would also provide the Chinese government with access to sensitive technologies. We simply cannot trust CNOOC, a state-owned corporation with ties to communist government leaders, with access to certain dual-use commercial and military technologies that the United States would otherwise restrict from China. We must recognize this proposed acquisition for the thinly veiled politically motivated scheme that it is and respond by protecting our vital domestic energy supplies from the threat of foreign usurpers The following is a list of usurpers – illegitimate or controversial claimants to the throne in a monarchy. The word usurper is a derogatory term, and as such not easily definable, as the person seizing power normally will try to legitimise his position, while denigrating that .

Recognizing the threat to our nation's domestic energy supply and national security, I have co-signed a letter with 40 other members of Congress urging Secretary of the Treasury John Snow to fully investigate the proposed acquisition of Unocal. Furthermore, the House of Representatives recently passed a resolution expressing the sense that CNOOC's acquisition of Unocal warrants a thorough review to determine its potential ramifications ramifications nplAuswirkungen pl  to our economy and security.

The Chinese government has responded to our genuine concerns with contempt and disregard. Their government has demanded that Congress "correct its mistaken ways" and stop interfering in "a normal commercial activity between enterprises." Conveniently, they forget that normal commercial activity is not usually undertaken by a state-sponsored corporation.

This double standard strikes fight at the heart of CNOOC's proposed acquisition--namely, it is a flagrant transgression TRANSGRESSION. The violation of a law.  on the part of communist China to monopolize mo·nop·o·lize  
tr.v. mo·nop·o·lized, mo·nop·o·liz·ing, mo·nop·o·liz·es
1. To acquire or maintain a monopoly of.

2. To dominate by excluding others: monopolized the conversation.
 the world's energy supplies at the expense of America's natural resources and national security.

Our energy resources are vital components of the nation's defense, transportation and commercial infrastructures, and must be protected from the malicious assaults of foreign governments. The proposed acquisition of Unocal by CNOOC, unfortunately, is one such underhanded attack that directly threatens our energy resources and weakens our national security.

Now more than ever, the United States must be on guard against this sort of implicit attack and instead promote a safe and sensible domestic energy policy to protect our national energy resources.

U.S. Rep. Gary Miller

For other people named Gary Miller, see Gary Miller (disambiguation).


Gary Gene Miller (born October 16 1948), American politician, has been a Republican member of the United States House of Representatives since 1999, representing
, R-Diamond Bar, represents the 42nd Congressional District Noun 1. congressional district - a territorial division of a state; entitled to elect one member to the United States House of Representatives
district, territorial dominion, territory, dominion - a region marked off for administrative or other purposes
.
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Title Annotation:COMMENTARY
Comment:Should Congress head off China's unocal bid?
Author:Miller, Gary
Publication:Los Angeles Business Journal
Geographic Code:1USA
Date:Jul 11, 2005
Words:658
Previous Article:The investment jungle.(LABJ forum)(opinions of executives on safe investment of money)
Next Article:There's no threat in proposed acquisition.(COMMENTARY)
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