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Monday, May 18, 2015
China Surpass US Oil Imports - War Ahead?
China's Crude Oil Imports Surpass Those Of US In April
Chinese crude oil imports surpassed those of the United States for the first time in April, making the Asian nation the world’s top importer of crude oil. According to a report by the Financial Times, the world’s second-largest economy purchased 7.4 million barrels of crude oil a day in April, topping U.S. imports of 7.2 million barrels a day.
“Being the world's biggest crude importer should give China more buying power. China's engagement in the Middle East will continue to change, and it will no longer be the minority player,” Philip Andrews-Speed, head of energy security research at the National University of Singapore, told Reuters. Read More
Why Is Everyone Thinking About It?
Dr. Kinesa's - Global Edge Thousands of implications, concerns and conclusions may be drawn from this economic energy watershed, but does anyone want to bet that this will not lead to war by 2050? Figure if China matched US per capita consumption their imports could exceed 40 million per day and they are heading to that level within a mere 25 years even though there is no physical chance to meet this need from global reserves and production.
Now you should see the problem because no nation in the world is going to give up growth policies, and thereby create domestic and geopolitical suicide. Never. Growth addictions exist and have no cure or rehab without hitting rock bottom first, as they say.
"So, beam me up Scotty" International Offices May 18, 2015