China seals oil deals

– This is part of a group of those huge but largely under-reported stories that are certain to shape our future world.

– Two examples (of which this story is one):

– Right now, all around the world, major powers are jockeying for their future oil supplies in the face of impending Peak Oil.

– Right now, all around the world, major powers are jockeying to lease lands in other countries to grow food for their own people back home.

– Just watch the news and see if, occasionally, you see stories on these subjects drift by; almost unnoticed.  And then reflect on what these stories really mean.

– Times are defintely going to get tougher.   A very serious game of Musical Chairs is underway.

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China’s oil demand is projected to grow by 80 percent between 2010 and 2030 due to its rapidly developing economy and in particular its growing middle class and exploding auto market.

CAP has a new map out showing where China is securing oil rights around the world.

China’s largest national, government-owned oil companies—CNPC, CNOOC, and Sinopec—have taken aggressive action over the last several years to secure oil abroad in an effort to cope with this growth and a looming global oil crunch. China’s recent overseas oil deals have the potential to deliver more than 7.8 billion barrels of oil to the country over the next several years.

– More…

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