China is moving to tighten its grip on the world’s oil supplies. Last week the China National Offshore Oil Corporation bid $18.5 billion for the American oil company Unocal. China’s goal: to make sure it has access to enough oil to keep its economy racing forward.

Energy demand is transforming China’s foreign policy and that makes many people worried that it will cozy up to rogue states like Iran and the Sudan as long as they keep the taps open. Many also worry that even U.S. companies might soon fly the flag of a Communist regime.

Tune in for a discussion of China’s big play for Unocal, and what it means for the U.S

Guests:

Matt Pottinger, reporter for the Wall Street Journal

Kenneth Lieberthal, professor of business administration and political science at the University of Michigan

Gal Luft, executive director of the Institute for the Analysis of Global Security

Matt Pulloy, member of the U.S.-China Economic and Security Review Commission.