It looks like Chinese business interests are starting to take a page from hard core Wall Street corporate raiders. The China National Offshore Oil Company is bidding to buy America’s Unocal, in an unsolicited bid of $18.5 billion that raises the price Chevron offered by half a billion dollars. I have to say that the idea of a Chinese government controlled oil company owning a major American company that furnishes millions of Americans with energy resources is downright scary. The last thing we need is to give more of our nation’s economic independence and self-sustainability to the communist totalitarian Chinese government. Though it looks like the Chevron sale go ahead anyway, the Bush administration should make sure that the CNOOC bid is quashed and not allow Unocal to sell itself to CNOOC over Chevron.

Philo