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26

US Polititians Don't Trust China

US lawmakers demanded closer examination of the $18.5bn Chinese oil company CNOOC's unsolicited bid

US lawmakers demanded closer examination of the $18.5bn Chinese oil company CNOOC?s unsolicited bid for American oil major Unocal.

In a letter to the Treasury Department, 41 Democrat and Republican politicians voiced concerns that a takeover by CNOOC may compromise national security. The lawmakers reasoned the growing trade deficit in China and record oil prices.

The Congressmen warned that US firms would find it increasingly difficult to compete with Chinese oil companies for "scarce energy resources".