US energy-security fears unwarranted in Chinese firm's bid for Unocal

WASHINGTON (AP) - The acquisition of Unocal Corp. by China's state-owned oil company CNOOC Ltd. would not pose a threat to the United States' energy security, industry analysts said Thursday, arguing that fears being stirred up in Congress are unwarranted. 

These oil experts said the knee-jerk response from some in Congress could backfire by making it harder for U.S. oil giants to gain the international access they need in order to grow. Moreover, they said a deal between CNOOC and Unocal could benefit U.S. companies, consumers and workers in the long run.