DataMan

China's Shrewd Long-Term Oil Plan: What America Can Learn

China has had a "shrewd long term oil plan" for quite some time but I don't know what America can learn from it. Your article mentions China's oil initiatives in other parts of the world. It is much more aggressive and intense than you suggested. They are major investors in the Canada oil sands, Cuba, Venezuela, and other areas of South America. Some of their biggest plays are in Africa. About a year ago, Nigeria offered the first new concessions in over 10 years. China bought all four, shutting out the western producers for the first time ever. They have written long term contracts with several other African nations guaranteeing them the majority of all future oil along with major infrastructure contracts to build the facilities, pipelines, roads, etc., to implement production.
As global peak oil is upon us, China is guaranteeing their supply of future oil while the west is facing shrinking capacity. Ten years and forward, China will be in a dominant position and there is not much we can do about it because we've been ignoring their tactics for the past few years.