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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: Jim Willie CB who wrote (7613)	2/10/2004 9:57:05 PM
From: mishedlo	Read Replies (2) of 110194

China's thirst for oil poses a threat to U.S. Optimists claim that the world oil market will be able to accommodate China and that, instead of conflict, China's thirst could create mutual desire for stability in the Middle East and thus actually bring Beijing closer to the United States. History shows the opposite: Superpowers find it difficult to coexist while competing over scarce resources. The main bone of contention probably will revolve around China's relations with Saudi Arabia, home to a quarter of the world's oil. The Chinese have already supplied the Saudis with intermediate-range ballistic missiles, and they played a major role 20 years ago in a Saudi-financed Pakistani nuclear effort that may one day leave a nuclear weapon in the hands of a Taliban-type regime in Riyadh or Islamabad. Since 9/11, a deep tension in U.S.-Saudi relations has provided the Chinese with an opportunity to win the heart of the House of Saud. The Saudis hear the voices in the United States denouncing Saudi Arabia as a "kernel of evil" and proposing that the United States seize and occupy the kingdom's oil fields. The Saudis especially fear that if their citizens again perpetrate a terror attack in the United States, there would be no alternative for the United States but to terminate its long-standing commitment to the monarchy -- and perhaps even use military force against it. chron.com =========================================================== Whether one believes in Hubbert's peak or not, there is cause for concern. This article points out the the US and China are on collision course for oil... By 2030, China is expected to have more cars than the U.S. and import as much oil as the U.S. does today. latimes.com

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