China National Petroleum Co

In another backlash against globalization, activists are pressuring the U.S. government to restrict foreign access to the powerful U.S. stock and bond markets. Their target is the growing practice by foreign firms with questionable ties to rogue nations of raising money on Wall Street. Though the United States has banned trade and other financial dealings with some nations over the years, its capital markets have always been accessible to any foreign companies that meet investment standards.

In another backlash against globalization, activists are pressuring the U.S. government to restrict foreign access to the powerful U.S. stock and bond markets. Their target is the growing practice by foreign firms with questionable ties to rogue nations of raising money on Wall Street. Though the United States has banned trade and other financial dealings with some nations over the years, its capital markets have always been accessible to any foreign companies that meet investment standards.

As a former accountant and stockbroker, Father Paul Spellman knows money talks. So when he found out last month that his retirement funds could be contributing to bloodshed in Sudan, he decided to send a message. His target: Fidelity Investments, which manages the retirement plan for the 350 priests in the Archdiocese of Los Angeles and is one of the leading U.S. shareholders in PetroChina Co., part of a company involved in one of Sudan's largest oil projects.

Pushed by an economic boom that is rapidly transforming this huge country into a big-time oil importer, China's main petroleum firm is becoming a major player in the worldwide oil scene. Analysts say China's surging thirst for energy will put upward pressure on prices, contribute to global warming and trigger diplomatic consequences--prompting closer ties to many countries but perhaps exacerbating conflicts with others. The state-owned China National Petroleum Corp.