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Tuesday, August 02, 2005

Cnooc Pulls Away

Speaking of economic idiots, Congress' threats to interfere with the Cnooc purchase of Unocal has led the Chinese company to pull its bid. While some members of Congress seemed understand the value of free trade in approving CAFTA, the fools pressured the Chinese to back off. I feel bad for the Unocal stockholders and bad for America that allowed its press-hungry politicians to basically kill the deal. How does this help anyone? Can we send these Congressmen to college or on permanent vacation?

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