Quote:
Originally posted by singpilot
What people seem to be oblivious to is attempts at oil takeovers. Like The Chinese Governments' recent attempt to purchase Unocal. Seemed innocoulous enough until you realized that the company CNOOC was really a Chinese state run 'private' company, and that the only real reserves Unocal had were in Indonesia and the 'stans (Uzbeckistan, Afghanistan, and so on). You know, some of the countries around the Chinese sphere of influence.
That would have been, as is said...'a bad thing'. Unless you were Chinese and just bought your first car.
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I'm as weary of Chinese motives as the next red-blooded American, but I don't believe their buying up an oil company would necessarily be a bad thing. They will do what it takes to secure their energy sources. And if buying up a company is what it takes, then it seems to me that would be that much more oil they're not buying on the open market and thereby not squeezing supply. Of course, Unocal would be serving Chinese needs first. But if not, then the Chicoms will be contributing to general demand in other markets.
I also think it's a bit hypocritical for us to be preaching democracy and human rights to the Chicoms, while acting like they don't have as much right to aspire to a better life as we do. Actually, the only thing I think gives us any more right to oil than they have is the fact that our navy and not theirs is what keeps the Red Sea, Straits of Hormuz and Persian Gulf safe for shipping oil.
Having spent some time in China, I don't really see how their roads can handle any more cars anyway. But if they do ever become a liberal democracy with a big middle class, it will put a squeeze on oil supplies like we've never seen. Another classic case of be careful what you wish for.