Where the Weeping Willow Wanders
So there really isn't a way I could be more tired this morning. Ok, there is. But it's hard to imagine that right now.
On to international news. It seems that the chinese really need something to bitch about. The response to U.S. House debate over the Chinese bid to take over Unocal by the Chinese themselves has been hot and heavy. The Chinese feel they have good reason: the current administration put their bid up for governmental review. Chevron's bid isn't.
The Washington Post has this editorial (requires registration) that is catagorically wrong. It assumes two things; the first is that China is bidding for the benefit of its people. The second is that by owning an oil producing company that it can do no harm. I think those are dangerous assumptions to make.
The Chinese government has never been concerned by the welfare of its people. That's the joy of a communist regime in any part of the world: the government is paid not to care. The Op/Ed piece claims that until the chinese have more oil than they need that they will be more concerned with producing more thus driving the world price down. That could possibly be true but would not follow ANY trend or precedent laid down by those in charge.
By owning a 1% share of the U.S. energy market and an even greater share of overall oil production, China would have a great ammount of sway in the international market. As evidenced by bids the world over, it seems that all China is doing is making bids and then pulling out of them or (as in the case of the U.S.) making bids they know won't go through, then putting up a fuss. This is odd, even for the Chinese, and makes me wonder about motives. That seems to be a point that the WA Post missed.
Red Nova had this Reuters article posted. A Chinese official is quoted as saying this:
This quote shows an incredible ammount of naivete about how the U.S. government works and the irony of a communist regime talking about the separation of government and commercial enterprise makes me scratch my head. Up until about 40 mins ago, Congress was simply debating whether or not to ask the administration to review CNOOC's bid. As of 40 mins ago, the administration decided it would review the bid, but that only happened after the Chinese government released the above quote.
I said earlier that the Chinese were looking for another way to bash the U.S., not make a legitimate bid for an international oil firm. I don't think that CNOOC should be allowed the bid, especially if it's sincere. The Chinese firm is looking more and more irresponsible as time goes on and in their effort to become friendlier with the U.S. they keep taking steps backward. Until they learn that they cannot bully their way into the international market, they should be treated as the free market debutants they are.
--THEYPEEDONYOURFUCKINGRUG--
On to international news. It seems that the chinese really need something to bitch about. The response to U.S. House debate over the Chinese bid to take over Unocal by the Chinese themselves has been hot and heavy. The Chinese feel they have good reason: the current administration put their bid up for governmental review. Chevron's bid isn't.
The Washington Post has this editorial (requires registration) that is catagorically wrong. It assumes two things; the first is that China is bidding for the benefit of its people. The second is that by owning an oil producing company that it can do no harm. I think those are dangerous assumptions to make.
The Chinese government has never been concerned by the welfare of its people. That's the joy of a communist regime in any part of the world: the government is paid not to care. The Op/Ed piece claims that until the chinese have more oil than they need that they will be more concerned with producing more thus driving the world price down. That could possibly be true but would not follow ANY trend or precedent laid down by those in charge.
By owning a 1% share of the U.S. energy market and an even greater share of overall oil production, China would have a great ammount of sway in the international market. As evidenced by bids the world over, it seems that all China is doing is making bids and then pulling out of them or (as in the case of the U.S.) making bids they know won't go through, then putting up a fuss. This is odd, even for the Chinese, and makes me wonder about motives. That seems to be a point that the WA Post missed.
Red Nova had this Reuters article posted. A Chinese official is quoted as saying this:
"We demand that the U.S. Congress correct its mistaken way of politicizing economic and trade issues and stop interfering in the normal commercial exchanges between enterprises of the two countries."
This quote shows an incredible ammount of naivete about how the U.S. government works and the irony of a communist regime talking about the separation of government and commercial enterprise makes me scratch my head. Up until about 40 mins ago, Congress was simply debating whether or not to ask the administration to review CNOOC's bid. As of 40 mins ago, the administration decided it would review the bid, but that only happened after the Chinese government released the above quote.
I said earlier that the Chinese were looking for another way to bash the U.S., not make a legitimate bid for an international oil firm. I don't think that CNOOC should be allowed the bid, especially if it's sincere. The Chinese firm is looking more and more irresponsible as time goes on and in their effort to become friendlier with the U.S. they keep taking steps backward. Until they learn that they cannot bully their way into the international market, they should be treated as the free market debutants they are.
--THEYPEEDONYOURFUCKINGRUG--
