Thursday, August 11, 2005 at 10:00 AM EDT
Chevron Makes a Deal
The oil giant Chevron completed its takeover of Unocal late yesterday, buying the American Oil Company for a reported $17.9 billion. The prospect of China holding US oil reserves was of great concern to some members of Congress and others who saw CNOOC’s efforts as a national security threat.
During a summer in which Congress proposed a slew of tariffs against Chinese imports, and warning from the Pentagon about China’s military buildups, will the Unocal deal strain US-China relations even more?
Guests:
Nicholas Lardy, senior fellow at the Institute for International Economics in Washington.
