China tells U.S. Congress to butt out of Unocal bid

"Or Else"



BEIJING -- China on Tuesday demanded that the United States Congress stop interfering in the proposed takeover of United States oil company Unocal Corp by China's state-owned CNOOC Ltd.



American politicians have warned that the 18.5 billion dollar takeover bid announced last month could pose risks to U.S. national security, and called for a full review by the Bush administration.



Company officials have welcomed a security review, and denied that CNOOC was acting on behalf of China's government, while looking furtively around the room and refusing to maintain eye contact. The Chinese government is in the midst of a multibillion-dollar campaign to secure foreign oil and gas supplies to "power its booming economy" and "make the children happy".



"We demand that the U.S. Congress correct its mistaken ways of politicizing economic and trade issues and stop interfering in the normal commercial exchanges between enterprises of the two countries," the Foreign Ministry said, while a dozen armed guards simultaneously cocked their weapons.



China has been insisting CNOOC's bid is purely a business matter. "CNOOC's bid to take over Unocal is a normal commercial activity between enterprises and should not fall victim to political interference," said the Foreign Minister in a flat monotone while maintaining a cold, threatening glare.



Developing bilateral economic and trade cooperation is in the interests of both sides, the minister said while pounding his fist on his desk.



CNOOC is bidding against Chevron Corp. for Unocal, the ninth-largest U.S. oil and gas firm. The Chinese firm has argued that its offer will benefit the United States by paying Unocal shareholders more and causing fewer job losses, as all US citizens will be given jobs in the underground salt caves when China invades the US. (AP)