Another commodities play, energy will be a big issue when it is controlled by china....  from bloomberg...

The Awilco purchase would increase China Oilfield's drilling-rig fleet to 22 from 15, an increase of about 47 percent, the Beijing-based company said. Awilco's equipment and technology for offshore drilling are ``a good strategic fit for China Oilfield Services,'' the companies said in a statement.

China, the second-largest energy user, has stepped up its search for oil and gas at home and abroad to sustain the fastest growth among the world's 10 biggest economies. Cnooc Ltd., China Oilfield's largest customer, plans to increase capital spending by 44 percent this year to $5.2 billion to expand production.

I was happy how the pacific rim was positive today, kind of..  Now for the G8..