NationStates Jolt Archive

http://today.reuters.com/news/newsArticle.aspx?type=politicsNews&storyID=2005-07-01T043226Z_01_N30161351_RTRIDST_0_POLITICS-ENERGY-UNOCAL-CONGRESS-DC.XML

"WASHINGTON (Reuters) - The U.S. House of Representatives on Thursday overwhelmingly voted to block the Bush administration from approving a Chinese company's attempt to acquire U.S. oil and gas producer Unocal Corp."

"The resolution also states that a CNOOC takeover of Unocal could threaten U.S. national security."

A national security threat?

Even for the most incredulous, this is the proof that the US government is effectively run by a few mega corporations who couldn't care less for the people's interests.

Global capitalism is for the others... US corporations must remain in the hands of americans! :p

I'd just wish Australia would actually own some it's own companies.

http://today.reuters.com/news/newsArticle.aspx?type=politicsNews&storyID=2005-07-01T043226Z_01_N30161351_RTRIDST_0_POLITICS-ENERGY-UNOCAL-CONGRESS-DC.XML

"WASHINGTON (Reuters) - The U.S. House of Representatives on Thursday overwhelmingly voted to block the Bush administration from approving a Chinese company's attempt to acquire U.S. oil and gas producer Unocal Corp."

"The resolution also states that a CNOOC takeover of Unocal could threaten U.S. national security."

A national security threat?

Even for the most incredulous, this is the proof that the US government is effectively run by a few mega corporations who couldn't care less for the people's interests.

Global capitalism is for the others... US corporations must remain in the hands of americans! :p

Oil is a component of US national security. And Unocal has a share in the BTC (Baku-Tbilisi-Ceyhan) pipeline which is key to who gets oil in the future. I don't think this decision sprung from corporate protectionism, but it's not inconceivable there's an element of that.