07/01/05

U.S. national security bureaucracies, some members of Congress, and their special interest supporters are eagerly demonizing the next 'insidious' enemy: China. Hawks and protectionists have seized on a bid by the primarily state-owned China National Offshore Oil Corporation (CNOOC) to take over California-based Unocal Oil. They allege that China could use the acquisition to meddle in oil pricing or even withhold supplies from the United States. U.S. officials have admitted heartburn over a communist-run corporation owning a major U.S. oil company. But ironically those communists -- now in name only -- are trying to teach U.S. government bureaucrats and their protectionist pals in the 'land of the free and the home of the brave' something about economic freedom and unfettered markets..

http://www.independent.org/newsroom/article.asp?id=1532

from Independent Institute, by Ivan Eland


Informant: Thomas L. Knapp