Day By Day© by Chris Muir.

Wednesday, July 20, 2005

Good business and patriotic

I'm glad to see that Unocal shareholders accepted Chevron's bid, not China's (CNOOC). They did it ostensibly because they were concerned that the government would intervene to prevent a sale to CNOOC, but I'm just going to tell myself that there was also an element of patriotism in it, which says you don't sell one of the world's biggest American oil companies to the Chinese, especially when the Chinese are engaged in a lot of sabre rattling.