Chinese Govt Owned Company Drops Bid For Unocal

Interesting development. I can't figure out exactly why CNOOC decided to pull out, as the articles just say "amid opposition in the US". Very unlike the Chinese to back down from a clear public relations coup, and even more so given their need for oil is second only to the US. Given the population of China, I'll bet they become the #1 importer of oil in time (I don't know...say 15 years?).