Given a graph:

Point p = new Point;
PointHolder h = new PointHolder;
h.p = p;
int x = p.x;
escape(h);

Then, we should be able to determine that even when p is stored into h.p, the memory has not escaped because h has not escaped, and p has not escaped until escape(h). This allows us to fold the load int x = p.x.

The difficulties is that now there is a memory location that can alias p. And we need to ensure that any load from it is visited when deciding the escape status. For example:

Point p = new Point;
PointHolder h = new PointHolder;
h.p = p;
do_something;
Point q = h.p;
escape(q);

Then, we need to ensure that p escapes at the call escape(q).