Posted on 09/16/2004 8:08:42 PM PDT by hedgetrimmer
Washington, DC, Sep. 16 (UPI) -- Saudi Arabia, long the largest supplier of oil to the United States, has cut U.S. sales dramatically and is likely no longer among the top five largest U.S. suppliers.
The Saudi kingdom's new largest customer is China.
"Saudi sales to the U.S. have fallen off the table," James Placke, a senior associate at Cambridge Energy Research Associates and former U.S. Deputy Assistant Secretary of State for Near Eastern Affairs said Thursday.
(Excerpt) Read more at washtimes.com ...
BTTT
Another interesting development in China's quest for oil.
Right now in the wake of lots of power outages and energy shortages China is forced to pour money into the energy sector.
Over the last 2 years I've met literally dozens of Americans who are going to China for that very reason.
China though doesn't want to import so much oil if they can avoid it. Hence, the recent decisions to build several nuclear power facilities...
As for how its all going to turn out is impossible to predict...
China was aggressively courting Saddam Hussein. I'm glad we acted before they cemented a more formal relationship.
"China though doesn't want to import so much oil if they can avoid it."
Hence their interests in the Spratlys and Diaoyu islands. I expect China to take military action in order to gain eventual control of the islands (for natural resources) or at least use serious military intimidation.
http://www.iwep.org.cn/wec/2004_5-6/china's%20industrialization.pdf
20 per 1,000. In round numbers there are a million thousand in China. 20 million cars? Mostly in the special economic zones that have an estimated population of 200 million to 300 million. Mostly high mileage cars they stole from western useful idiots and make themselves like the Chery -- soon to be marketed worldwide at half the price the original designer, GM, can sell them.
There are more cars in California, I believe. Most are SUVs owned by Hollywood liberals. :)
So, is the oil mostly for war reserves.
For those of us who still regard the ChiComs as an enemy state (not exactly the position of the State Department) this has some interesting ramifications.
China's demand for energy is co-incident to its industrial awakening, and not unpredictable.
It is also likely that PRChina will use its dollar reserves to continue its oil imports, which will result in a bidding war for oil. Since PRChina has done a good job of taking US money and has done a good job of de-stabilizing the US middle class' income, this could be interesting.
They are smart.
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