If the Goevrnment allows China to buy the large left coast oil company you will definitely see imminent domain in its most effective form.The US flag will have to add a red star.Just my own protectionist thought. Other views appreciated
but not necassarily accepted.Smile
And this has what to do with railroads?
Jim
Sp.,evidently your closed mind cannot see the forest ! If they get a foothold in the oil industry,the next progression will be higher prices,shortages,and eventually the takeover of every moving thing including railroads.
Funny you should ask that question…given the last few posts you’ve made…
I wouldn’t be too concerned about China’s interest in buying Unicol if that is what you are talking about. If it was such a big concern about controlling ones own assets, the Rockafeller building wouldn’t have been sold to the Japanese.
The United States runs a Budget deficit of about $400 billion a year and a Trade deficit of about $600 a year. That means about $1 trillion American dollars are leaving the Country each year. The rest of the World does not need those Dollars in those numbers. Buying American assets is probably the best way to send those dollars back to the United States.
Not to spin off topic… but American Dollars started to leave and go over seas as soon as foreign imports cars and pickups performed better than some Detroit offerings.
This started in the late 60’s
Now we see skilled tech jobs going to india along with major call centers etc in the name of lower costs.
Who do we blame for failing to keep American Made in the USA? Who do we blame?
Not the foreign automakers who have cheerfully set up plants to build thier cars right here in USA.
Isnt Unocal the same as the old Standard Oil? A division that resulted from the breakup of that really strong company in the early part of the 1900’s?
I humbly suggest that we as a Nation are going to have to pioneer something good and useful to the rest of the world that only we can do well. Then we will see the dollars come in again.
Thanks to all,RHarmon you know how to get to the gist.I think there comes a time when we(meaning the citizens) must stand up to foriegn interlopers.China has copied,cheated or otherwise bamboozled companies in this country,by using slave labor to underprice everything below its normal cost.
You only have to read the news where they have undercut the music business by bootlegging cd’s,tapes,etc… I notice there has started some discussion on the Sinday news programs,about time. Again thanks for your responses.
How dare China take the place of Georgia.
Gabe
Foreign interlopers? Surely this is just a case of the USA getting a dose of it’s own medicine. It’s America’s corporate imperialism and it’s subsequent seepage of culture and values that has certainly driven many Islamic states against you.
As for slave labour…go check out a slaughterhouse in the high plains… I quote from “Fast Food Nation” by Eric Schlosser.
"Some of the most dangerous jobs in meatpacking today are performed by late night cleaning crews. A large proportion of these workers are illegal immigrants. They are considered ‘independent contractors’, employed not by the meatpacking firms, but by sanitation companies. They earn hourly wages that are about one third lower than those of regular production employees. And their work is so hard and so horrendous that words seem inadequate to describe it. The men and women who now clean the nation’s slaughterhouses may arguably have the worst job in the United States. “It takes a really dedicated person,” a former member of the cleaning crew told me, “or a really desperate person, to get the job done.”
“As in so many other aspects of meatpacking, IBP was a trailblazer in recruiting migrant labor. The company was among the first to recognise that recent immigrants would work for lower wages than American citizens - and would be more reluctant to join unions.”
"IBP now maintains a labor office in Mexico City, runs ads on
Interesting that you should bring that up. What happened was that they overpaid for Rockefellar Center, far more than the mortgage payments could justify, and then the real estate market in Japan crashed. They defaulted by walking away. RC was bought at a knockdown price by Goldman Sachs, an investment bank. Almost every property (e.g. Pebble Beach) bought by a Japanese company ran into problems and was disposed. This is a not untypical experience for foreign buyers of American assets, which is why I wouldn’t be so concerned about the Chinese. Another example is that the Brits financed much of the building the railroads in US in the 19th century, and lost their shirts. I don’t recall reading about any outcry then about a foreign power gaining control of a strategic industry.
Perhaps it’s the paranoia of being top dog? Someone will undoubtedly kick the US off the top of the most powerful list, no imperial power (covert or otherwise) have ever remained at the top forever.
The problem with China owning an American oil company,is they can take the oil from fields in Texas or California,and ship the bulk back to China,leaving us short[:(!].This has nothing to do with thier being communists,any foreign owner would do the same.
Cnooc, the Chinese bidder, is interested in Unocal because most of their assets are in Asia and not in the US. It would be difficult to argue that US consumers are in some way strategically entitled to assets in a foreign country. Furthermore, to add to the interest, Chevron, the US bidder, says that much of Unocal’s US staff will be laid off if they’re successful, whereas Cnooc says it will retain them.
Espeefoamer: the oil will still go to whoever is willing to pay the most for it. It does not matter who owns the oil company, or where the oil is pumped out of the ground.
Personally, if China can guarantee the perservation of U.S jobs and spend two billion more then Chevron, give it to them. Jobs are important and obviously Chevron, an American company isn’t prepared to save American jobs or spend enough money.
Right now in Ontario, Toyota’s investments are alot more reliable then Ford’s or G.M’s. They plan to build another assembly plant in Woodstock near another plant in Cambridge.
Not true…China is a command economy. It will serve it’s national interests first. Semi-capitistic ventures are a means to national goals, and they will accept short term economic losses to support their big picture.
Well I would never miss a Yellowjacket, but they cannot have my Bulldogs[:-^]
Funny thing about that; AS eastside said so well, I can only add that they really did over pay BIG TIME. I think P.T. Barnum put it better than anyone, “There is a sucker born every minute”
Well maybe the U.S can sucker China then…you never know.