Red-Hot Resources

"Luck is not chance, it’s toil; fortune’s expensive smile is earned.”

Thursday, December 21, 2006

The Coming Fight For Oil

The Chicago Tribune has an interesting story titled: "The Coming Fight for Oil." It's part of a 3-part series called "China's Great Grab." You have to do the free-registration mambo to read the whole three-part series, but you can read "The Coming Fight for Oil" without registering.

The story is subtitled:
"The roaring Chinese economy needs more oil. It's turning to America's friends to get it."

Here are some stats from the story...

* China had enough oil to sustain itself just 15 years ago. Now it is one of the world's thirstiest oil addicts, importing 40 percent of what it needs. Only the U.S. consumes more.

* This past summer, a power shortage forced China to ration electricity to its factories for the fourth year in a row.

* With its economy on pace to surpass that of the U.S. by 2050, China will have to find more places like this, just as it will have to find more sources of corn, pork, fertilizer, coal, steel, wool, copper, cement and timber.

* China has built a new 620-mile pipeline, hailed as "the new silk road," into Kazakhstan,
home to one of the largest oil fields discovered worldwide in the past 30 years. The article explains this pipeline is "a milestone for the world's newest empire--one forged not in the name of destiny or God, but in pursuit of the planet's most valuable resources."

That's pretty good writing, eh? I'll have to look up more stories by Evan Osnos.

Anyway, the whole thing is a good read. You can find it by CLICKING HERE.

Labels: , , ,

Check out my new gold and energy blog at