Controversy grows over Chinese oil bid with US House vote
AFP, July, 2005
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WASHINGTON (AFP) — The row over the Chinese bid for US oil group Unocal heated up with the US House of Representatives voting overwhelmingly to oppose the takeover plan.
The lawmakers voted 398-15 late Thursday for a non-binding resolution that calls for the US government to block the 18.5 billion-dollar bid by China National Offshore Oil Corporation (CNOOC).
The resolution said oil and gas are "strategic assets" and that a Chinese state-run firm's takeover "would threaten to impair the national security of the United States."
"The Chinese bid for Unocal is compelling evidence of America's strategic energy vulnerability," said House Democratic leader Nancy Pelosi ahead of the vote.
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"The Chinese government's control of CNOOC made the bid possible, not the free market."
"We cannot, in my opinion, we cannot afford to have a major US energy supplier controlled by the communist Chinese," ...
