Exxon Mobil: CNOOC bid for the U.S. to prevent a big mistake.

<P> CNOOC bid 18.5 billion acquisition of Unocal, China's third largest oil company CNOOC (China) Limited (CNOOC Ltd., Referred to as: CNOOC) bid 18.5 billion U.S. dollars late Wednesday in California .Union Oil (Unocal Corp.) launched its bid to acquire Chevron higher than the total (Chevron Corp.) of the 16.6 billion offer. .</ P> <P> if CNOOC to maintain its decision, which will highlight the direct control of state-owned enterprises desire for energy assets in Southeast Asia, and will highlight the power of the Chinese Government has spent enormous power of the state treasury to help achieve their goals in the determination of the sea of oil. .</ P> <P> April of this year, California-based Chevron Corporation (Chevron Corp.) Agreed to have a 115-year history of Unocal to merge in a deal worth 16.6 billion in cash and stock .be. .</ P> <P> Although CNOOC headquarters in Beijing to a meeting held late at night, but the situation is still not clear. .CNOOC Chairman Fu Chengyu, chief executive of Goldman Sachs by (Goldman Sachs) and JP Morgan (JP Morgan) surrounded by bankers, until the next morning. .Financial adviser, said after the adjournment, CNOOC and Chevron are in contact, but do not know the discussions the two companies. .</ P> <P> CNOOC last Wednesday evening held a long meeting of the Board to discuss the situation in the acquisition of Unocal, but the company did not issue an official statement on the outcome of the meeting. .Chevron has not confirmed whether the CNOOC bid. .Measured according to energy reserves, CNOOC is China's third largest oil and gas companies. .</ P> <P> participate in the bid, CNOOC and Chevron in the market expected. .According to sources, Chevron has hired a company attorney handling the problem, initiated to repel the challenge of CNOOC. .</ P> <P> recent days, we understand the idea of CNOOC management source said the management plan to issue a higher bid, but decided to wait until the board made only after discussion. .This year in April, due to non-executive directors of CNOOC reservations about the deal, Chevron made to reach a purchase agreement. .CNOOC's offer must be higher than Chevron's bid, which may result in the CNOOC take billions of dollars in debt. .</ P> <P> a senior U.S. official also may be involved in the CNOOC bid response. .CNOOC in the New York Stock Exchange and the Hong Kong Stock Exchange-listed, Chinese state-owned China National Offshore Oil Corporation (China National Offshore Oil Corp.) Is the controlling shareholder. .</ P> <P> U.S. Energy Secretary Samuel Bodman (Samuel Bodman), said the CNOOC bid for Unocal should be the intention of the United States Committee on Foreign Investment (Committee for Foreign Investment) in the review. .The latter is an inter-agency body to foreign acquisitions of U.S. companies on the impact of U.S. national security review. .</ P> <P> the U.S. Congress is scheduled for Thursday to trade tensions with China to hold hearings into the textile trade from the revaluation of the RMB exchange rate a series of questions to U.S. lawmakers in recent months is quite irritating. .</ P> <P> but the U.S. domestic energy producers are differing views on protectionism in the United States. .Which may bid for Unocal, CNOOC oil after the news came on Tuesday, Exxon Mobil (Exxon Mobil Corp.) Lee Raymond, chief executive of Reuters (Reuters) hosted an energy summit that the United States to stop CNOOC .The bid will be a big mistake, must be to free trade, if not conducive to efficiency factors were incorporated into the market, and ultimately the United States will pay a price. .</ P>.