mr. speaker , i thank the gentlewoman from michigan ( ms. kilpatrick ) xz4002170 for yielding me time . 
i want to thank her , first of all , for focusing the house on this very important issue , and as has been said before , giving us an opportunity to affirmatively stand against an idea whose time has not come . 
if there is ever a time to speak about investing in america i think the time is now . 
on the shadow of celebrating the freedom day , july 4 , our day of independence , it is a time now to stand up for investing in america . 
and i guess in discussing this purchase of unocal by china , i think we should make the point that china has been and hopefully will continue to be our friend . 
we engage in cultural exchange and educational exchange . 
it is a great opportunity to learn from each other to do research with each other . 
but in this instance , i think any purchase of unocal by china at this time would be a disservice and a detriment to our homeland security . 
for example , one of the reasons why unocal is such an attractive purchase is because it has deep reserves . 
and one of the reasons it has deep reserves is because it is one of the few companies that has developed the kind of technology that has allowed it to project into the future and be able to keep and find the amount of reserves that keep it with a sizable amount of reserves in place . 
then , of course , china is dropping cool cash , $ 18 billion , which puts at a disadvantage a number of american companies in particular who are interested in purchasing unocal . 
now , of course , this is a private purchase and shareholders rights have to be taken into consideration , but i think this congress , although we are a capitalist society , should look at the government money that communist china is going up to buy not only in america but in south and central america , in the caribbean , in africa , more and more in the middle east and elsewhere . 
we need to begin to put together a package that suggests that we will be able to help some of our companies who are trying to invest in america companies and purchasing them . 
well , an unusual idea but one whose time may have come . 
we can not compete . 
we need to be able to support our companies such as general motors . 
why does general motors owe china $ 2 billion . 
why do we owe china almost $ 300 billion ? 
because we have not kept our eye on the prize and we have not reminded not only our individuals , but our large corporate sector of investing in america . 
i rise to support this amendment . 
there should be bipartisan support . 
i thank the distinguished gentlewoman from michigan ( ms. kilpatrick ) xz4002170 for her very affirmative amendment that keeps the money away from this deal . 
but i believe the sense of congress should acknowledge that this is a protracted deal . 
we need oversight , and it should not go forward unless we pass the litmus test of national security , homeland security , investing in america and allowing american companies to purchase unocal . 
because i remind my friends , the technology that you lose today is the technology that you will regret tomorrow . 
this purchase should not go forward . 
i ask for the support of the amendment . 
