Saudis seek to assist in reducing US dependence on foreign oil...

[Subdivisions]

...by selling more oil to China.

April 20 (Bloomberg) -- Li Wei, a Chinese diplomat in Riyadh, had only just seen off a Ministry of Commerce delegation to Saudi Arabia this month when he started preparing for another Chinese governmental visit in two weeks.

“Every month we have delegations coming to Saudi Arabia,” said Li, who works in the Chinese Embassy’s commercial section in the Saudi capital. “We are too busy.”

China, the world’s second-largest oil consumer, and Saudi Arabia, holder of about a fifth of global crude reserves, are forging ever closer ties as the Persian Gulf kingdom responds to a Chinese drive to feed its rising energy needs. China in November overtook the U.S. as the main buyer of Saudi oil, and Saudi Arabian Oil Co. and Saudi Basic Industries Corp. are investing in refinery and petrochemicals projects in China.

The partnership between Saudi Arabia and China is part of a broader strategy by the world’s largest oil exporter to tap Asian markets and extend global influence. It also helps Saudi Arabia reduce reliance on the U.S., which since World War II has protected Saudi security in return for stable oil supplies, said Ben Simpfendorfer, Hong Kong-based chief China economist at the Royal Bank of Scotland Plc.

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http://www.bloomberg.com/apps/news?pid=20601109&sid=afA7qKyLK44s&pos=10

Isn't it nice of them to help us break our foreign oil habit?

[AmericaIsGreat]

1. Fine with me

Get on with alternative and nuclear energy in the U.S. and let the Chinese and Indians continue to be slaves to oil.

[lxlxlxl]

2. also see nuclear energy in saudi...might be interested...

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