China buying Unocal

aunsaber · 06-22-2005, 08:28 PM

I was wondering what the members thoughts are on China buying Unocal. The deal is supposed to be final by August.
They have already been a big reason that oil is above $60 a barrel for the first time.
When they buy some of our refining capabilities they might hurt us even more.
But I'm sure no matter what happens we will keep importing their junk products.

tardfarmer · 06-23-2005, 05:48 AM

They're buying Maytag also.

change your name to Xiang and learn Mandarin.

Jack Welch wants it that way.

Tazman · 06-23-2005, 06:00 AM

Buy stock in Chop Sticks and sell all your stock in knifes and forks![8D]

Aught Six · 06-23-2005, 06:37 AM

If I become a naturalized Chinaman, I think I'll name myself Wang Chung.

We need to overthrow the communist govenment in China and put an end to the Cold War once and for all.

Tazman · 06-23-2005, 06:41 AM

Wong Hung Lo is another excellent Chinese name!

Alsatian · 06-23-2005, 06:54 AM

Our nation has no industrial policy. Neither Democrats or Republicans feel the need to encouragespecific industries or encourage specific degrees at universities. Oops, I forgot, the US does subsidize agriculture substantially, though this is more of a sop given to the farmers than contributing to the common good. I believe the concept is that "we don't want the US government picking winners and losers." While this is our attitude at present, it is not the attitude of other countries, notably eastern countries such as China, India, and probably South Korea. Those countries DO encourage specific economic outcomes. They provide incentives to companies to build their facilities in the countries rather than elsewhere. They encourage investment rather than consumption (relevance to trade balance). They encourage strong growth oriented industries that hold the keys to future regional prosperity over sunset industries whose better days are over. Read "Three Billion New Capitalists" by Clyde Prestowitz for more details.

China is developing. With development comes a hunger for oil and energy generally. The US has no prior claim on world oil rights, so we have to bid for our oil in this world energy market, and with China now at the table with a growing appetite, the price is going up. That is a reality that isn't going away. Whether we should or should not allow them to buy Unocol is a separate questions, but doubt whether that impacts our US price of gasoline. Do you think the Chinese are planning to factionate the gasoline in the US at their Unocol refinery(ies) and ship it back to China?

The days of the US being the preeminent economic power house in the world are swiftly fading in the rearview mirror, friends. Again, see "Three Billion New Capitalists" for more details.

I mean no disrespect to aunsaber or tardfarmer, just a little regretful that the ship is sinking and our fearless leaders take no note.

aunsaber · 06-23-2005, 10:38 AM

No disrepect taken.
Obviously you can put things into words better than me, otherwise I would have been writing something comparable to what you said.
Except about the book, I guess I need to find that one and read it.
I haven't been really PO'd in a while.

tardfarmer · 06-23-2005, 10:57 AM

Quote:

I mean no disrespect to aunsaber or tardfarmer, just a little regretful that the ship is sinking and our fearless leaders take no note.

Why would I feel disrespect? I agree with you 100%, we're killing ourselves at every turn and the only people that are profiting (temporarily) are politicians and the big wigs in corporate america.

summit daWg · 06-23-2005, 11:09 AM

Quote:

ORIGINAL: tardfarmer

Quote:

I mean no disrespect to aunsaber or tardfarmer, just a little regretful that the ship is sinking and our fearless leaders take no note.

Why would I feel disrespect? I agree with you 100%, we're killing ourselves at every turn and the only people that are profiting (temporarily) are politicians and the big wigs in corporate america.

I agree with all of you on that,and I must add that I am NOT really thrilled with the alternative either - since I send My texaco bill to "Shell/Texaco" which is called Chevron/Texaco which I believe is who in the end will swallow them up.

Teddy Roosevelt is rolling in his grave.

JagMagMan · 06-23-2005, 02:43 PM

I understand the frustration over foreign ownership, the company I work for has been spending most of the profitsWE make, and investing it overseas!
But the Saudi's and Mexicans have owned a big chunk of Texaco and other refining companies for a long time now! Most of Unocal in my area, has been shutdown, and rusting away for ten years now! If China wants to buy it, spend money in America, and create American jobs, thats better than them building it in China!
Hell, maybe the foreigners are seeing something that the American owners are overlooking! While Americans are taking their stuff overseas, the foreigners ARE investing in America!Mitzubishi of ***an is looking into building a plant next-door to ours to useOUR products. I know that the profits are going somewhere else, but the jobs are HERE! Thats better than the profits, AND the jobs going somewhere else!