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Gold/Mining/Energy : Big Dog's Boom Boom Room (Moderated)
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To: Think4Yourself who wrote (19)4/19/2005 6:17:29 AM
From: Raymond Duray   of 89
 
Re: What about China? The country is massive. As the country opens up isn't it likely that massive oilfields will be found there,

China went from net exporter of petroleum to importer a couple years ago. About the same time, a massive new fleet of automobiles began flooding the country. From here on out, China will be competing with the U.S. (and Europe) for international oil resources.

Here's some background on China's supply/demand balance:
eia.doe.gov

As another poster stated, the land-based Chinese oil industry is mature. The game has moved off-shore. The various skirmishes on the water such as regards the Diaoyu Islands - known by the Japanese as Senkaku - are based almost exclusively on oil & gas prospects under the seas. This is what the recent anti-Japanese "riots" in China are ultimately about.

Here's an article that mentions several of the currently disputed island groups that China claims.

melbourne.indymedia.org

It's interesting that these oil disputes are almost never mentioned in the U.S. mainstream media when reports come in China's various altercations with the Japanese, Taiwanese, etc.

According to our corporate media whores, just as with Iraq, territorial aggression couldn't possibly have anything to do with oil. ;')
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