GLENEAGLES, Scotland (Reuters) - President Bush said on Thursday it was best to let an official U.S. review of the Chinese bid for U.S. oil company Unocal run its course without him getting involved.
"There is a process that our government uses to analyze such purchases. It's best I allow this process to move forward without comment," he said when questioned on the sidelines of a Group of Eight summit at Gleneagles, Scotland.
The Chinese state-controlled energy firm CNOOC Ltd has offered $18.5 billion bid for Unocal Corp., higher than a rival offer from U.S. firm Chevron Corp .
Despite the higher price of CNOOC's bid, it has encountered significant opposition from some U.S. lawmakers who want the Bush administration to review the bid to determine whether the Chinese government-backed offer poses any threat to U.S. national security. (Washington Post)
No, Mr. President. Go ahead and comment. I'm thinking your guidance on National Security issues is necessary - even in free market.
It's not a ruling... just guidance.
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