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

To: RealMuLan who wrote (26573)	3/30/2005 11:54:11 AM
From: mishedlo	Respond to of 116555

China's petroleum demand to rise 10% chinadaily.com.cn China produced 1.2 billion barrels of crude oil last year, a 2.9 percent increase over a year earlier. Natural gas production climbed 18.5 percent to 40.77 billion cubic meters. But with the economy growing at a rate of more than 9 percent a year, growth in oil consumption is outpacing increases in production. And output at many domestic fields has been declining after decades of production.

To: RealMuLan who wrote (26573)	3/30/2005 1:18:53 PM
From: RealMuLan	Read Replies (1) \| Respond to of 116555

U.S. Has `Concerns' About India-Iran Pipeline Plan, Rice Says March 16 (Bloomberg) -- The U.S. has ``concerns'' about plans for a pipeline to transport natural gas to India from Iran, U.S. Secretary of State Condoleezza Rice said today. `` Our views concerning Iran are very well known and we have communicated to the Indian government our concerns about gas pipeline cooperation between Iran and India,'' Rice told a news conference in New Delhi. ``We need to look at the broader question of how India meets its energy needs in the next decade.'' The U.S. accuses Iran of trying to build a nuclear weapon, a charge the Middle East nation denies, saying the nuclear program is designed to produce energy. Iran on March 12 said it won't give up its ``legitimate right'' to develop a nuclear power program, a day after the U.S. offered trade incentives. The U.S. prohibits direct investment by American companies in Iran. U.S. relations with Iran have been suspended since 1980, following the takeover of the U.S. embassy in Tehran by students after the 1979 Islamic revolution. India wants to build the proposed 2,775-kilometer (1,700- mile) pipeline via Pakistan and is investing in oil and gas fields in Iran to secure energy supplies because it depends on imports for 70 percent of its oil needs. Iran has the world's second-biggest reserves of gas after Russia. India needs more energy to run power plants to keep up with demands from an expanding economy. Asia's fourth-largest economy may expand 6.9 percent in the fiscal year ending March 31, the Indian government estimates. The economy expanded 8.5 percent a year earlier, the most in 15 years. Demand Demand for the fuel is expected to rise to 188 million cubic meters a day by next year and to 284 million cubic meters by 2010, according to the Reliance Review of Energy Markets, compiled by Reliance Industries Ltd. ``We look forward to an energy dialogue'' with India, Rice said. ``The demand for energy in growing economies like India and the U.S.'' is rising ``and these demands will have to be met.'' Rice is in New Delhi on the first day of a three-day South Asian tour. She held talks with Indian Foreign Minister K. Natwar Singh and is due to meet Prime Minister Manmohan Singh. She travels to Pakistan later today where she is scheduled to meet President Pervez Musharraf. India and Pakistan have been trying to boost relations since April 2003, having come close to a war in the previous year. The peace process has led to the restoration of diplomatic, transport and sporting ties. bloomberg.com =============================================================== Hehe, the US wants those natural gas to be transferred from Turkey and Mediterranean Sea to the West, not through Iran to the south<g>. And that is why Rice concerned.