International Law

China lays its stake on Central Asia

By China Briefing

By Joyce Roque 

Dec. 18 - “The main thing is to make history, not to write it.” Otto Von Bismarck

Much ado about oil
Just like the spice trade of yore where adventurers dared flinging themselves in the uncharted world for the sake of country and above all for the business of spice, it seems China is no different with the lure of spice replaced by the hunt for oil. China is the second largest importer of oil in the world with a mission to lay the groundwork for stabilizing its energy security in the future.

The world?s thirst for oil overtakes its supply despite fears of global warming. According to government specialists, oil and gas demand will remain unhindered and could climb to as much as 50 percent in the coming 25 years.

Oil industry experts also estimate that for China’s case oil demand may reach 400 million tons by 2020 with an average increase of 12 percent annually.

“There are no easy barrels left,” J. Robinson West, chairman of PFC Energy told the International Herald Tribune. “The only barrels are going to be the tough barrels.” (more…)

Full post as published by China Briefing Blog on December 18, 2007 (boomark / email).