Where's the Oil in Asia? China and India Team Up.

PanAsianBiz ^ | June 20, 2006 | Dr. Bill Belew

[G. Stolyarov II]

Asia has a paltry 5% of the world's oil reserves.

Compare that to the former Soviet Union which has more than one fifth (20.8%) and Africa and the Middle East, which have nearly 2/3s of the oil reserves (60.5%).

What to do...China National Petroleum Co. and India's Oil & Natural Gas Corp. teamed up to buy a Syrian oil field!

I thought about doing that once -- buying a gas station. But then, I realized I still had to buy the gas before I could pump it out.

The reason India and China went in to buy the field together was so that they didn't bid each other out of a fair price for the field. Now, that sounds smart to me.

Why can't other countries find a similar working relationship?

What do you think?

[G. Stolyarov II]

This is good news; instead of engaging in political conflict and confrontation, China and India have decided to take the route of economic cooperation -- which will enrich their residents in the end. Commerce among nations is the surest way to prevent hostilities and war among them.

See Dr. Belew's blog at PanAsianBiz

[samm1148]

You are right about that. It just bothers me that we are sitting on potential oil fields in Alaska and offshore and are prohibited from drilling thanks to the leftist global warming liars.