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Articles (2012)
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China may outbid Chevron for California based Unocal. If China wins the the bid, will Walmart start selling Chinese gas, too?
The unsolicited and unwanted bid by the Chinese government-owned CNOOC for an American oil asset will trigger political backlash which ever way it goes. First is the already strained relationship between the US State, Treasury and Commerce Departments over recent spats with China over trade and foreign exchange issues, plus new demands from the US State Department for claims of restitution that date back to the end of World War II when the communist regime seized the country and "nationalized" several American and British companies without compensating the shareholders of those companies for the assets the People's Republic of China seized. The first clue
that CNOOC was contemplating making a bid for Unocal was
a statement the company made to the Hong Kong stock exchange last Tuesday
when it said it was "...continuing to examine its options with
respect to Unocal [with options]...that include a possible offer...for
Unocal," noting that no final decision had yet been made.
Since April,
the Chinese government has forced the ouster of at least one reluctant
non-executive board member. The remaining non-executive board members
have hired the Rothschild Investment Bank, Charles River Associates
consultant group and an American law firm, Skadden, Arps, Slate, Meagher
& Flom to advise them. Speculators and spectators alike see movement
in the Hong Kong market that suggests hedge funds are positioning themselves
for a piece of this anticipated action. In the event CNOOC moves fast enoughand with enough money to outbid Chevron (which has Rockefeller money at its disposal)the consumers in California need to boycott Unocal from the moment the transnational deal is finalized since what is owned by the Chinese government is, in reality, owned by the People's Liberation Army of the People's Republic of China. That means everytime Californians buy a gallon of gasoline at a CNOOC-Unocal station (providing CNOOC ends up with the company) they will be paying for a new clip of ammo for a Chinese AK47 that, some day in the not too distant future, will be firing at American troops_or American citizens. If CNOOC ends up with UNOCAL, consumers who buy their gas at Walmartthinking it's the one thing you can still buy at the chain Sam Walton built that doesn't come from Chinaneed to ask themselves again just how many of their hard-earned dollars they want to send to the People's Liberation Army. Once again, you have my two cents worth on this subject.
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