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China's Changing Oil Calculus
h/t InstapunditLast month, China and Russia announced an $85 billion equity deal to jointly develop Russias east Siberian oil resources for export to China in an unprecedented agreement between the two countries. This comes on the heels of Chinese president Xi Jinpings tour of Central Asia to forge closer trade ties with Kazakhstan, Uzbekistan, Turkmenistan and Kyrgyzstan. Promoting a New Silk Road of regional commerce, he spoke illustriously of camel bells echoing in the mountains and wisps of smoke rising in the desert as in the days of yore. Although much less romantic, Hydrocarbon Highway more aptly describes Xis vision. In recent weeks, China has signed nearly $100 billion in energy contracts to increase Chinese access to the abundant petroleum resources of Central Asia. A major advantage of obtaining oil from Siberia and Central Asia is that it could travel to China overlandand thus beyond the reach of U.S. naval power. As long as it doesn't come from oil ticks Posted by: g(r)omgoru 2013-11-13 |
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