The complete failure of antitrust laws in the country is cause for great concern. I'd rather see China or a similar party who's not going to play ball with the monopoly of US Oil companies pick up UNOCAL over Chevron.

As a matter of fact, China owning the US distribution facilities held by UNOCAL would create a price war, lowering the price of gas for consumers and it would be rapeus interruptus for the Oil companies and their relationship with the US consumer.

China might sell less oil here than UNOCAL did before - but you can certainly bet they would sell it cheaper. This would force the other oil companies to return to pre-1997 pricing.

And whatever they did, it wouldn't be worse than letting Chevron dictate arbitrary gas prices.

"Today we will make $2.55 on every gallon sold. Tomorrow we bring it down to 2.53 and the masses will be thankful."

Go People's Republic!

;-)