Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (24795)	3/2/2005 8:05:12 PM
From: RealMuLan	Read Replies (1) \| Respond to of 116555

China fuels energy cold war By Chietigj Bajpaee HONG KONG - A notable feature of 2004 was the volatility in oil prices - New York light sweet crude prices reached a peak of US$55.67 on October 25, ending the year up 33.6% at $43.45 per barrel. While a number of supply-side and supply-chain factors have contributed to this situation, the most significant long-term factor contributing to rising oil prices is an increase in Asian demand, most notably from China. China's unprecedented growth not only makes it a driver of a long-term increase in energy prices, but also the most vulnerable to rising oil prices. China, which has been a net oil importer since 1993, is the world's number two oil consumer after the US and has accounted for 40% of the world's crude oil demand growth since 2000. China's proven oil reserves stand at 18 trillion barrels, and oil imports account for one-third of its crude oil consumption. China has initiated numerous policies to cope with its increasing energy needs, including stepping up exploration activities within its own borders, diversifying beyond oil to access other energy resources, such as nuclear power, coal, natural gas and renewable energy resources, promoting energy conservation and encouraging investment into energy-friendly technologies such as hydrogen-powered fuel cells and coal gasification. China has also joined the United States and Japan in developing strategic petroleum reserves, with the creation of 75 days of emergency reserves in four locations in Zhejiang, Shandong and Liaoning provinces. ... atimes.com