LAT: China Stakes Claim for Global Oil Access

[DeepModem Mom]

China Stakes Claim for Global Oil Access
In its quest for crude, Beijing is dangling cash and playing on nations' discontent with the U.S. Can the two huge energy consumers coexist?

By Mark Magnier, Times Staff Writer


.... Dangling cash and access to its huge market, China is dispatching legions of diplomats, surveyors and engineers across the globe to help quench the Middle Kingdom's insatiable thirst for energy.

During the last two years, President Hu Jintao and Premier Wen Jiabao have taken oil executives on trips to oil-rich countries from Algeria to Uzbekistan to seal major deals. The government in Beijing has welcomed top officials from all 11 members of the Organization of the Petroleum Exporting Countries. A major point of a trip Hu made to Moscow this month was to secure access to Russia's vast reserves.

Chinese crews are building roads in Africa in exchange for the right to extract oil from remote regions. Viewers in Saudi Arabia, a nation that U.S. oil firms once had to themselves, now watch Chinese programs on satellite TV as China drills into Saudi sands. China is also taking advantage of tensions between the Bush administration and Venezuelan President Hugo Chavez to wrest oil from one of the largest U.S. suppliers.

To secure deals worth tens of billions of dollars, Beijing is cozying up to regimes in nations, including Iran and Sudan, that Washington labels pariahs. And it is flexing its military muscle to lay claim to contested fields in East Asia.

China's aggressive search is putting it in growing competition with the United States, the world's largest oil consumer. Some observers even warn of a possible showdown between the two economic giants....


http://www.latimes.com/business/la-fg-chinaoil17jul17,0,3357282.story?coll=la-home-business

[Swamp Rat]

1. America is seriously hooked on petroleum

China wants to be the dealer.

[Carolab]

2. China is seriously hooked on petroleum.

And wants to control access.

[Swamp Rat]

3. That too

:hi:

[Lorien]

4. He who controls the world's energy

controls the world.

[krkaufman]

9. Problem is...

... China's also moving towards controlling us, through ownership of our debt.

[cire4]

5. At least China is pursuing oil through peaceful means....

Their desire to control major oil supplies hasn't been manifested militarily (at least not yet).

The same can't be said about the United States...

[DeepModem Mom]

8. Good point, cire4. nt

[WCGreen]

6. The Bush Administrations view on Venezula

has been so productive now hasn't it.....

[dbt]

7. Another piece of bu$h's war puzzle falls neatly into place.

In a sense, Iraq Nam has been all about the oil, after all. That is, about getting between China and that lovely Iraqi Crude. So what if a few thousand American troops (and Goddess knows how MANY Iraqis) die in the process? Ultimately, Dick (The Dick) Cheney will be able to set his own price for selling China oil from Iraq. This on top of all the profits Halliburton has already made from this war.

:freak:

[katty]

10. Keep your bicyles, America--China is on a relentless mission

-is holding most of the US debt- and has no intention of slowing down its production