The LA Times has a story today by Evelyn Iritani about the Chinese interest in US businesses [LINK]. I am particularly interested in how this apparent bid by CNOOC Ltd. for Unocal is going to play out. Probably Chevron has them beat, but keep yours eyes peeled. Either way, we are seeing consolidation in the oil industry already, as oil prices climb ever higher. By the way, don't believe this BS about not having enough refineries; that is not why crude oil prices are rising.