"Doug Kanter" wrote in message
...

"Tim" wrote in message
oups.com...
Just whatch what happens when the Chinese buy out Unocal.....


If that's allowed to happen, we should reinstate the firing squad as a
method of justice. But, that would empty out the Senate completely.
Hmmm....


White House says procedures in place to vet CNOOc's Unocal bid
Last Update: 4:16 PM ET June 27, 2005


WASHINGTON (Marke****ch) -- The Bush administration said Monday that there
is an established procedure for reviewing the security implications of any
successful bid by China's CNOOC Ltd. (CEO) for Unocal Corp. (UCL).



"If it (the bid) were to go through, like all foreign-based transactions,
there is a regulatory process that will be followed to address any national
security concerns," White House spokesman Scott McClellan said.

"In other words, there are procedures in place and if a bid goes through,
then we would expect the appropriate procedures to be followed," he added.

CNOOC has said it would be willing to pay $18.5 billion for Unocal,
outbidding U.S. oil company Chevron Corp.'s (CVX) $16 billion-plus offer.

CNOOC is 70% owned by the Chinese state.