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the beast grows and grows. and you know what it wants. it wants tiwan.

so it can controll even more of the worlds economy. and the beast owes no money to no

one. And guess who owns 2 billion out of the 8 billion we borrowed? the beast ?

it bought our treasury bonds.

so my freind were in a real pickle.

we owe 8 trillion. we cant get started. we got 3 cuts. we have no cash? no more bonds to issue. it will take 10 years to pay it all back to china. we cant afford to buy oil. the mid east dosnt even bother with us anymore cuase the beast and india outbids us for it.

and our hands are tied in iraq.

and the beast has cash coming out of its ears. and missles coming out of its ass.

and its getting ready to make a major move on tiwan. its just wating for our hands to get tied alittle more with some thing else?
 
but we need a demand side cut not a supply side cut. history proves that out look what happened when JFK did it 10+ yrs of economic growth
 
ed i think your ignoring a major issue or problem.

if we broke out of this tommorow. wed be paying for our bonds for the next 8 years. The beast is ready now! its go oil stock piles and looking to add more. thats why its started with trying to buy that oil company yesterday for 18 billion. and its got missles coming out of its ass.

and its spending less on everything than we are. and it has 235 million people in it arm forces.

were still over here trying to figure out how to break out of a recession. and get back on the global market?

what im saying is that tax cuts aint gonna work. we need a market pronto. something

that brings money our way. not selling and buying houses.

all those tax cuts you talked about wont do anything. if you still have to pay 60 dollars a barrel for oil.

ed we got major problems man

iv never sceen any country insult the congress of the united states.

Unless they were ready?

for what who knows.
 
have you figured out why companies are reinvesting more money in there businesses for the fiist time ? to increase production so we can get the prices down


as far as the oil crisis the only thing will help is americans start looking at alternative fuels fuels that can be made and produced in the states stuff like biodieasl and hydro and a host of others
 
This Is a must read


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SHANGHAI, July 4 - The Chinese government on Monday sharply criticized the United States for threatening to erect barriers aimed at preventing the attempted takeover of the American oil company Unocal Corp. by one of China's three largest energy firms, CNOOC Ltd.

Four days after the House of Representatives overwhelmingly approved a resolution urging the Bush administration to block the proposed transaction as a threat to national security, China's Foreign Ministry excoriated Congress for injecting politics into what it characterized as a standard business matter.


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"We demand that the U.S. Congress correct its mistaken ways of politicizing economic and trade issues and stop interfering in the normal commercial exchanges between enterprises of the two countries," the Foreign Ministry said in a written statement. "CNOOC's bid to take over the U.S. Unocal company is a normal commercial activity between enterprises and should not fall victim to political interference. The development of economic and trade cooperation between China and the United States conforms to the interests of both sides."
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Those words, the latest rhetorical volley in an escalating trade battle, officially elevated the takeover battle for Unocal into a bilateral issue involving Washington and Beijing, raising the stakes of the outcome.

CNOOC's bid comes as China's emerging force in the global economy continues to sow international tensions over competition for natural resources, impacts to the environment, trade balances and security relationships. The deal would be the latest in a string of Chinese purchases of foreign companies as Beijing encourages domestic firms to seek new markets abroad and secure raw materials for China's aggressive industrialization. The Chinese government has urged energy companies in particular to buy foreign oil fields as China's consumption soars, deepening worries about the country's access to supplies.
 
Those words, the latest rhetorical volley in an escalating trade battle, officially elevated the takeover battle for Unocal into a bilateral issue involving Washington and Beijing, raising the stakes of the outcome.

CNOOC's bid comes as China's emerging force in the global economy continues to sow international tensions over competition for natural resources, impacts to the environment, trade balances and security relationships. The deal would be the latest in a string of Chinese purchases of foreign companies as Beijing encourages domestic firms to seek new markets abroad and secure raw materials for China's aggressive industrialization. The Chinese government has urged energy companies in particular to buy foreign oil fields as China's consumption soars, deepening worries about the country's access to supplies.

Takeover battle
Already, CNOOC's bid has taken China across a new threshold: It has unleashed the first takeover battle between a Chinese company and a U.S. firm, the oil giant Chevron Corp., which has its own deal in hand to buy Unocal for $16.5 billion. If completed, CNOOC's purchase -- its bid is for $18.5 billion -- would stand as the largest foreign takeover ever made by a Chinese firm.

But as the price of oil continues to soar, underscoring the finite supply of global stocks, some members of Congress have taken to portraying China's appetite for energy as a threat to U.S. interests. They are painting CNOOC's effort to capture Unocal as an attempt to siphon off energy that would otherwise land in the United States, a proposition that analysts call dubious because most of Unocal's outstanding contracts supply customers in Asia.

As the House adopted its resolution Thursday by a 398 to 15 tally, some noted that CNOOC remains under the majority control of the Communist Party-led state, suggesting that this alone made the deal a threat.

"We cannot, in my opinion, afford to have a major U.S. energy supplier controlled by the Communist Chinese," said Rep. William J. Jefferson, a Louisiana Democrat. Monday's reply from Beijing reinforced what CNOOC has said from the beginning -- that the deal is nothing more than an attempt to expand its business opportunities and invest capital sensibly.

Long before CNOOC emerged with its unsolicited offer for Unocal, the United States-China relationship was already highly complex. Recent months have seen friction over China's roughly $160 billion trade surplus with the United States and surges this year in Chinese-made textiles reaching U.S. shores. Some U.S. trade groups accuse China of manipulating its currency, the yuan, to keep it artificially low, making Chinese goods unfairly cheap on world markets. The Bush administration has pressured China to allow its currency to float freely. China argues that it is being made a scapegoat for the decline of U.S. manufacturing.

Tensions also have grown over North Korea's pursuit of nuclear weapons. In Washington, some suggest that Beijing is not doing enough to pressure North Korea, its longtime ally, to return to stalled talks, while propping up the regime in Pyongyang with food and fuel. Chinese officials have criticized the United States for demonizing North Korea and undermining the possibility of progress.

Volatile relationship
Taiwan is always a hot button. China claims the self-governing island as part of its territory and threatens to reclaim it by force if Taiwan's government moves toward formal independence. The United States is nominally pledged to come to Taiwan's aid in event of war.

The battle over Unocal has injected yet another factor into this already volatile relationship ahead of a planned visit to Washington by Chinese President Hu Jintao this fall.

But analysts say the issue has thus far produced little that could alter the relationship between the two governments, because Beijing has grown sophisticated at distinguishing between rhetoric from Capitol Hill -- where Thursday's resolution was nonbinding -- and policy from the White House, which has said little on the subject.

But whatever comes of the Unocal battle, tensions over Chinese investment are probably only beginning. Just as a rising Japan in the 1980s snapped up high-profile assets in the United States and provoked widespread American unease, China's expanding horizons are having a similar effect.

Moreover, key differences between Japan of that era and current-day China could make this go-round more combustible: Japan was a U.S. military ally and part of the same ideological bloc, whereas China is viewed by many in Washington as an adversary.
 
and this


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But the simplest reason for tension may be the amount of cash at China's disposal: As investment pours in and China's central bank buys dollars to maintain the value of its currency, the country has amassed $650 billion in foreign exchange reserves. China has plowed much of that money into U.S. Treasury bonds.

But the quest for Unocal and other foreign companies is being construed by some as a sign of diversification.

"We invest too much in U.S. federal bonds, and they don't make us much money," said Pan Rui, a professor at the Center for American Studies at Fudan University in Shanghai. "Now we're learning to invest more wisely, to try to invest in American companies and industries."
 
China's tough talk on Unocal bid could backfire
By William L. Watts, MarketWatch
Last Update: 6:27 PM ET July 6, 2005


WASHINGTON (MarketWatch) - Beijing met congressional tough talk over China-owned CNOOC Ltd.'s bid for U.S.-based Unocal Corp. with harsh words of its own, but the statement appears to have only inflamed opponents of the deal, observers said.



"I think this has become a foreign-policy issue. It moved out of the realm of a simple business transaction ... when Congress started stirring the pot," said Elizabeth Economy, director of Asia studies at the Council on Foreign Relations.

That said, Beijing's message, which urged Congress to correct its "mistaken ways," is unlikely to win friends in Congress or the U.S. government, she said.

"We demand that the U.S. Congress correct its mistaken ways of politicizing economic and trade issues and stop interfering in the normal commercial exchanges between enterprises of the two countries," the Foreign Ministry declared in a written statement, according to published reports. "CNOOC's bid to take over the U.S. Unocal company is a normal commercial activity between enterprises and should not fall victim to political interference."

House Resources Committee Richard Pombo, R-Calif., said the ministry's comments "only reinforce the concerns expressed by the House last week, the Associated Press reported.

Pombo was the sponsor of a resolution that urges the U.S. government to begin an immediate review of the bid on national-security grounds. The nonbinding resolution passed overwhelmingly last week.

"If the Chinese are willing to tell the Congress of a free nation to get lost, what assurance do we have that they wouldn't tell the free market to butt out, too? I think the answer is `none.' An investigation into the national and economic security ramifications of this deal is clearly warranted," Pombo said.

On the same day, the House also overwhelmingly backed an amendment to an annual appropriations bill that would bar the Treasury Department from spending any money to recommend approval of the transaction.

Also, House Energy Committee Chairman Joe Barton, R-Texas, described CNOOC as a "front company for the Chinese Communist government," and said panel would hold hearings on the proposed deal when lawmakers return from the weeklong Independence Day recess.

The majority state-owned CNOOC has offered Unocal (UCL: news, chart, profile) shareholders $67 a share for a total $18.5 billion. Unocal had already agreed to a lower bid by U.S.-based Chevron Corp. (CVX: news, chart, profile) .

While the harsh words fly, CNOOC (CEO: news, chart, profile) officials have attempted to assuage U.S. officials, portraying the bid as business-as-usual, and even urging the Bush administration to begin a national-security review of the proposed transaction.

CNOOC filed notice with the Committee on Foreign Investment in the United States last Friday for a review of the proposal. The interagency committee is chaired by Treasury Secretary John Snow.

Company officials try to calm the waters

Meanwhile, CNOOC CEO Fu Chengyu, in an op-ed published on China Daily's website and in The Wall Street Journal on Wednesday, reiterated the firm's conciliatory tone. CNOOC is "prepared to agree to necessary modifications to our proposal in order to alleviate any concerns they may have," Fu wrote. See the article.

Fu reiterated that the company would seek to boost U.S. production of oil and gas and said any worries that a combined CNOOC-Unocal would siphon oil and gas away from U.S. markets were unfounded.

"It would not be economically rational to take U.S. oil and gas to China -- not least, as the U.S. is one of the strongest markets in the world. In fact we will increase production in the U.S., particularly from the Gulf of Mexico. That will mean more oil for U.S. consumers, not less," he wrote.

Calls for scrutiny of the CNOOC bid come amid rising trade tensions with China. Lawmakers have long complained that the yuan is pegged at an artificially low exchange rate with the U.S. dollar, undercutting U.S. manufacturers and worsening the U.S. trade deficit with China.

Several lawmakers have introduced legislation that would impose punitive tariffs on Beijing unless it takes action to loosen the peg and let the yuan appreciate. Two senators last week agreed to delay a July vote on such legislation until the end of the year, after receiving assurances from Snow and Federal Reserve Chairman Alan Greenspan that China was likely to move in a matter of months. See recent story.

Economy said there are merits to worries about the strategic and economic implications of China's rise, but emphasized that such worries underscore a need for the Bush administration to step forward and outline a long-term framework for dealing with a growing China.

"If there were this kind of framework for understanding U.S.-China relations, than the CNOOC bid could be understood and dealt with within that framework," Economy said. "As it stands now, every single issue like this that comes across the transom has the potential to cause a major perturbation in the (U.S.-China) relationship."


William L. Watts is a reporter for MarketWatch.
 
yes i do. the us govt is getting involved. the main reason they want the company is that american oil co. are good at getting to oil china has tons of it but does not know how to ghet to it
 
hahahaha

is that what you think? ed theyre buying oil cuase they wanna dry us up ! or slowly corner us. they got cash. and theres nothing that can stop them. they got billions now. what the congress did was just national security block. but they cant block every transaction.

China is beg to make it moves. basically it got tired of u s bonds. and now it wants oil companies. the beast is hungry.

it can not block everything. so if china wants to buy bp for example. or buy airbus?

whos gonna stop em? congress?

china has 330 million dollars surplus !!! with the u s

and it has billions coming to it interest from the bonds. u s bonds. and it has

billions in investments. from around the world.

its got cash coming out of its ears. And it starting to make its moves. and we cant do

nothing to stop it. cuase We owe cash out of our ears. and our military is over streched.

it cant even put fear into north korea or china anymore? thats why korth korea is buggin up there.

and china is just chomping to make a move on twain.
 
I love American cars! Especially seeing them overseas!! Makes u feel home!!
 
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