Forbes: China Is The World’s Largest Oil & Gas Importer
Everybody knows that China has been leading the world in new oil and natural gas demand, except for last year when the U.S. did it. But, what is not so commonly known is that China is now the largest oil and natural gas importer.
This is a really big deal for other consumers: oil and gas supply over 60% of the world’s energy. China has 1.4 billion people, a government obsessed with economic growth, energy usage that accounts for 25% of the world’s total, and an ever-extending global reach that has procuring energy supplies at its core, namely oil and gas in any area, any country at any time. Oil and gas constitute a rising 30% of China’s total energy demand.
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WNU Editor: And this trend is only going to increase with time.
6 comments:
Interesting, interesting...
so you are saying:
At the very moment when the US becomes the largest oil exporter and less dependent on oil than ever, China is suddenly super dependent on something the US has?
Oh... no wonder fracking went through Congress so easily.. nice
Exactly as we planned.
The energy sales to China are still modest compared with the $9.7 billion of oil shipped by the Organization of the Petroleum Exporting Countries (OPEC) to China in January. But they are already cutting into a market dominated by the likes of Saudi Arabia and Russia - with the threat of much more competition to come.
“We see U.S. crude as a supplement to our large base of crude” from the Middle East and Russia, said a refinery manager for China’s oil-major Sinopec, declining to be named as he was not cleared to speak to media.
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Good thing Alberta can't get oil to tide water...
Don't tell Greta.
Well now wait. I thought the world was going to cut back on greenhouse
gas production. That's what mr. obamma said. The Chinese signed the agreement, he said. What's going on here?
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