By way of comparison we hear about ructions in Iran over rising prices for gasoline.
Gasoline is heavily subsidized there and as a result, people use a lot of it. Of course, when something is artificially price-capped that means there’s no incentive to make more of it. Which is why Iran’s own refining capacity is so limited. Why build refineries when there’s no opportunity to make money at it?
We have been reading about China’s exploding appetite for energy, I gather subsidized fuel prices have everything to do with that.
I’m having difficulty how a “War for Oil” would work in the here and now. The world price is the world price whether it comes from halfway round the world or your own back yard.
The Imperial Japanese invaded the Pacific because the embargo physically prevented them from buying oil anywhere at any price.
How’m I doing so far?
China needs to perfect the amorphous silicon solar cell, since they have no electrical distribution grid. They now are the largest producers of such cells in the world, and this is their only “out” when it comes to energy. Copper for a grid is just as scarce as oil...
Look to China for solar power.