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Tancredo Comments on China's Dangerous Expansion Over American Oil

Date: July 6, 2005
Location: Washington, DC
Issues: Natural Resources


Tancredo Comments on China's Dangerous Expansion Over American Oil

In yet another example of what is a growing and alarming trend, China is offering $18.5 billion in a bid to gobble up Unocal, an American energy company.

At a time when Americans are faced with rising energy costs -- and China is threatening freedom in Taiwan and elsewhere -- this is the wrong sale at the wrong time.

And this isn't just a bad deal for America's economy -- it's a bad deal for America's security.

If the takeover of Unocal is approved, the Chinese government could gain a stake in oil terminals that feed into our nation's Strategic Petroleum Reserve.

Now that just doesn't make sense.

By itself, this takeover may seem small- but a few more deals like this one, and America could find itself held hostage not just to the energy brokers in the Middle East - but to China as well.

http://tancredo.house.gov/pressers/0706UnocalChinaScript.htm

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