War of the Future - Here Today

[shereads]

The Chinese have just made a bid of 18 billion dollars to buy the American oil company Unocal, and it looks like they might do it.

There's an article about the bid in this morning's Washington Post. The bidding company, CNOOC, is 70% owned by the Chinese government. A spokesman explains China's interest in acquiring Unocal:

CNOOC said the deal would provide access to needed natural gas reserves and would benefit its shareholders. "We are driven by value," Fu said. "We are trying to create value for our shareholders."

Communism must be stopped before it spreads.

 

[Seattle Zack]

I'm sure our esteemed president has no ties to oil industry lobbyists, or the like.

After all, it's not like our vice-president is a paid shill of the oil companies or anything.

Anyway, this is what Bush had to say recenly about China and their oil consumption:

http://indiamonitor.com/news/readNews.jsp?ni=7246

Bush blames India for high oil price
Tuesday, May 17, 2005, West Point, Va: US President George Bush said India must develop an alternative to oil for its energy needs, saying surging demand for fuel in China and India contributed to the price increase.
The United States must help fast-growing China and India become more energy efficient, and reduce its dependence on foreign oil by finding alternative energy sources, Bush said on Monday.

"It's in our economic interest and our national interest to help countries like India and China become more efficient users of oil," Bush said at a Virginia processing plant that makes "biodiesel" fuel out of soybeans.

"That would help take the pressure off global oil supply, take the pressure off prices here at home," he said.

Oil prices reached record highs in April, but have since slipped off the peaks. Surging demand for fuel in China and India, where economies are rapidly expanding, contributed to the price increase.

High oil prices have hurt Bush's poll ratings, and he has been calling for more production to help push prices down.

The United States is the world's largest energy consumer, far outstripping China and India. U.S. demand for oil is about 21 million barrels per day, compared with 7.4 million barrels per day projected this year for China, according to the U.S. Energy Department. India's oil consumption was 2.2 million barrels per day in 2003 and is projected to grow to 2.8 million by 2010, according to the department.

Bush said he would ask leaders of the world's richest nations at a Group of Eight summit in July to help developing countries find "practical ways to use clean energy technologies" and be more efficient in energy use.

China's thirst for crude oil exceeded expectations in 2004, contributing to tight global supplies. Although China's demand growth slowed in the first quarter of 2005, some analysts said this week that its crude-oil imports soared by 23 percent in April.

"We must be better conservers. We must produce and refine more crude oil here in America. We must help countries like India and China reduce their demand for crude oil," Bush said.

"And we've got to develop new fuels like biodiesel and ethanol as alternatives to diesel and gasoline," he said. Such alternatives, also including hydrogen, would reduce U.S. dependence on foreign oil, he said.

Senate Democratic Leader Harry Reid of Nevada said Bush should urge oil companies and refiners to use more domestically produced biodiesel and ethanol.

"The President's energy plan is a bad deal for American consumers and will do nothing to reduce our dependence on foreign oil, reduce our consumption or increase production here at home," Reid said.

The U.S. House of Representatives has passed an energy bill, while the Senate is still working on its version. "It is time for the House and the Senate to come together and to get a good energy bill to my desk by August, and I'll sign it into law," Bush said.

Saudi oil minister Ali al-Naimi met with U.S. Energy Secretary Sam Bodman in Washington on Monday to discuss global energy issues. That follows Bush's meeting last month with Saudi Crown Prince Abdullah at the president's Texas ranch, at which oil prices were a major topic.

In his speech, Bush also repeated his call for the construction of new U.S. oil refineries and nuclear power plants to supply more energy to the American economy.

"Our dependence on foreign oil is like a foreign tax on the American dream, and that tax is growing every year," he added.
--------

Just for reference:
Extra:
American consumption: 19.7 million barrels per day
Indian consumption: 2 million barrels per day
China consumption: 4.9 million barrels per day

 

[~hellbaby~]

The Chinese have just made a bid of 18 billion dollars to buy the American oil company Unocal, and it looks like they might do it. I'm not exactly sure who the official bidder is, but I imagine it's one of their semi-autonomous/semi-government-owned conglomerates.

I've maintained for a while now that realnation-to-nation war is obsolete. Why go through all that trouble and destruction when you can just buy what you want? The Japanese did it in the '80's (though they had to seel a lot of it back when their economy stalled), and Saudi Arabia and various other oil baronies own great swathes of US industry.

It's said that the Chinese are looking to corner some of the world's scarcer resources, like copper and molybdeum and other metals. They've been snapping stuff up in South America and Australia and are looking to make themselves into a kind of OPEC, only with metals. Then they'll be able to set the price and generally dictate terms to the rest of the global market.

All this goes under the heading of globalism, I guess. Still, it kind of worries me. How much of the United States would someone have to buy before they owned us?

How much of the United States would someone have to buy before they owned us?
I think the question is becoming closer to 'What will happen when they decide it's time to play cards' The US only narrowly ownes itself.
"Foreigners now own more and more of America - - about "$8 trillion of U.S. financial assets, including 13% of all stocks and 24% of corporate bonds", according to Bridgewater Associates. According to the Federal Government Debt Report they also own 44% of Treasury bonds & bills. Additionally, they own real estate and factories. "
At a rate of over 1.5 BILLION dollars a DAY in interest
on the debt along with interests in major corporations it is downright scary to think about even one country calling in their marker. Imagine with the increasing Anti US sentiment, a few of those countries getting together......

 

[ishtat]

The Chinese have just made a bid of 18 billion dollars to buy the American oil company Unocal, and it looks like they might do it. .

All this goes under the heading of globalism, I guess. Still, it kind of worries me. How much of the United States would someone have to buy before they owned us?

Most of Unocal's assets are in non American oil and gas fields particularly in Asia so in this instance the Chinese are hardly buying the US. It is interesting though from a US point of view in that the Chinese will be well aware of the political clout these assets will give them as well as the economic benefits.

The Chinese will be well aware that their Strategic influence even with their neighbors is in reality quite weak whether military or economic strength is considered. This purchase if it goes through will be perceived in China at least as important politically as economically.

 

[oggbashan]

The French own our water

When the UK's water utilities were privatised, many of the new companies ended up being bought by French water companies.

Now the French can turn off our water...

Og

 

[LadyJeanne]

I'm sure our esteemed president has no ties to oil industry lobbyists, or the like.

After all, it's not like our vice-president is a paid shill of the oil companies or anything.

Anyway, this is what Bush had to say recenly about China and their oil consumption:

http://indiamonitor.com/news/readNews.jsp?ni=7246

Bush blames India for high oil price
Tuesday, May 17, 2005, West Point, Va: US President George Bush said India must develop an alternative to oil for its energy needs, saying surging demand for fuel in China and India contributed to the price increase.

The United States must help fast-growing China and India become more energy efficient, and reduce its dependence on foreign oil by finding alternative energy sources, Bush said on Monday.

"It's in our economic interest and our national interest to help countries like India and China become more efficient users of oil," Bush said at a Virginia processing plant that makes "biodiesel" fuel out of soybeans.

"That would help take the pressure off global oil supply, take the pressure off prices here at home," he said.

Oil prices reached record highs in April, but have since slipped off the peaks. Surging demand for fuel in China and India, where economies are rapidly expanding, contributed to the price increase.

High oil prices have hurt Bush's poll ratings, and he has been calling for more production to help push prices down.

The United States is the world's largest energy consumer, far outstripping China and India. U.S. demand for oil is about 21 million barrels per day, compared with 7.4 million barrels per day projected this year for China, according to the U.S. Energy Department. India's oil consumption was 2.2 million barrels per day in 2003 and is projected to grow to 2.8 million by 2010, according to the department.

Bush said he would ask leaders of the world's richest nations at a Group of Eight summit in July to help developing countries find "practical ways to use clean energy technologies" and be more efficient in energy use.

China's thirst for crude oil exceeded expectations in 2004, contributing to tight global supplies. Although China's demand growth slowed in the first quarter of 2005, some analysts said this week that its crude-oil imports soared by 23 percent in April.

"We must be better conservers. We must produce and refine more crude oil here in America. We must help countries like India and China reduce their demand for crude oil," Bush said.

"And we've got to develop new fuels like biodiesel and ethanol as alternatives to diesel and gasoline," he said. Such alternatives, also including hydrogen, would reduce U.S. dependence on foreign oil, he said.

Senate Democratic Leader Harry Reid of Nevada said Bush should urge oil companies and refiners to use more domestically produced biodiesel and ethanol.

"The President's energy plan is a bad deal for American consumers and will do nothing to reduce our dependence on foreign oil, reduce our consumption or increase production here at home," Reid said.

The U.S. House of Representatives has passed an energy bill, while the Senate is still working on its version. "It is time for the House and the Senate to come together and to get a good energy bill to my desk by August, and I'll sign it into law," Bush said.

Saudi oil minister Ali al-Naimi met with U.S. Energy Secretary Sam Bodman in Washington on Monday to discuss global energy issues. That follows Bush's meeting last month with Saudi Crown Prince Abdullah at the president's Texas ranch, at which oil prices were a major topic.

In his speech, Bush also repeated his call for the construction of new U.S. oil refineries and nuclear power plants to supply more energy to the American economy.

"Our dependence on foreign oil is like a foreign tax on the American dream, and that tax is growing every year," he added.
--------

Just for reference:
Extra:
American consumption: 19.7 million barrels per day
Indian consumption: 2 million barrels per day
China consumption: 4.9 million barrels per day

Yup, the irony is smacking me in the face.