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Politics : Rat's Nest - Chronicles of Collapse -- Ignore unavailable to you. Want to Upgrade?

To: Patricia Trinchero who wrote (4859)	10/12/2006 9:40:06 AM
From: Wharf Rat	Read Replies (1) \| Respond to of 24213

Headlines China's Nine-Month Oil Imports Rise as Demand Climbs China imported 16 percent more crude oil in the first nine months of 2006 than a year earlier to meet rising energy demand in the world's fastest-growing major economy. There's more… (985 words) \| Comments (0 new, 1 total) \| Permalink ======================= Some of it went into their SPR: China reportedly puts 3 mln barrels of Russian crude in reserve China has put 3 million barrels of Russian crude into its strategic oil reserve since August, the Shanghai Securities News reported Wednesday citing unnamed sources at China Petrochemical Corp., better known as Sinopec Group. The amount of Russian crude used so far in the reserve at Zhenhai in the eastern province of Zhejiang is equivalent to almost 10% of its total capacity, the report said. It added that the type of Russian crude imported for the reserve was Urals, which is a medium sour blend. ================================ Oil executive: As China raises its standard of living, its thirst for oil will strain world's oil production abilities Professor Albert Kwong, an executive, professor and lecturer in the Chinese oil industry, has put certain numbers together. "China has five times the population of the United States. The United States uses five times the amount of oil, per capital, as the Chinese." Here is the challenging part: "The Chinese want to be just like the Americans." theoildrum.com