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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: Snowshoe who wrote (54834)	10/25/2004 5:58:42 PM
From: Condor	Read Replies (2) \| Respond to of 74559

China's other main oil option is to buy it from Siberia. But that puts them in a position of servitude. That is the US present situation. China wants to own oil. If they own and produce in Canada, then sell it to the US or/and Canada. With that delicious profit, China can buy it anywhwere closer to themselves. "He who has the gold makes the rules". The western world is not enamoured with the oil rich ME, but those countries get $ 55/bbl. The more the US rants the higher the price goes. Be an owner not a renter. C

To: Snowshoe who wrote (54834)	10/25/2004 6:20:05 PM
From: RealMuLan	Respond to of 74559

Hope this is not a mistake--Qiangtang Basin in Tibet estimated to hold oil and gas reserves Message 20684622 >>But Czar Putin would rather pipe it to a Russian port than direct to China, so he can sell it to the highest bidder: Japan vs. China.<< Pipeline to China from Russia is not completely dead yet. Today a major Russian newspaper said, there is a possibility that the two pipelines (one is to Japan, and the other to China) will start at the same time. Several reasons for this change on Russian side: 1) China told Putin it will buy >US$5 billion more weapons from Russia on top of that US$12 billion aid for Russian energy sector; 2) Japan told Russia that Russia needs to give up those couple of northern islands in dispute with Japan for sovreignty in order to get the money from Japan for the pipeline, Russia thinks the two issues should be separated; 3) Most domestic opinions in Russia prefer the pipeline with China over the one with Japan (according to some poll, >73% of Russians have good impression on China); 4) Russia is afraid of China's revenge on trade issue if they refuse the pipeline; Some other energy projects have been going on in South China Sea, one is with Brazilian oil company for oil production, and the other is with Germany scientists for producing gas hydrate