China ravenous

EARLIER this month, ChevronTexaco foiled an attempt by the China National Offshore Oil Corp. to buy Unocal, America’s ninth-largest oil company. The CNOOC bid brought China’s energy needs to America’s doorstep for the first time. It won’t be the last

China’s exploding oil demand is sparking competition with the United States. Perhaps more important than PRC ownership of a U.S. oil company, China’s willingness to cut deals with nasty regimes has already begun undermining American policy priorities

http://www.chron.com/cs/CDA/ssistory.mpl/editorial/outlook/3171377