Squanderville and Thriftville, 2005.

A recent news item is an attempt by a Chinese [state] corporation to buy Unocal, beating out the bid by the American company, Chevron. And, there is a newer news item today that says that Chevron may be prepared to outbid the Chinese corporation, CNOOC.
The immediate thought that comes to mind is Warren Buffett's fable on Squanderville and Thriftville.

Is America becoming the Squanderville that Buffett described so beautifully?