Truthout - Sunday, 04 May 2014
China's insatiable thirst for energy as it continues along its course toward international hegemony is having a profound effect on the countries that surround it.
The
rise of The Peoples Republic of China (PRC) on the international stage
in recent years has caused increasing competition over natural resources
across the globe, with energy in the Middle East being no exception.
The Middle East is an area of the globe that contains 48.4% of known oil reserves
and 43% of known natural gas reserves. Since becoming a net oil
importer in 1993, Beijing has considered developing diplomatic and trade
relations with Middle Eastern states to be of very high priority. In
2011 China imported nearly 3 million barrels of oil from the Middle East
per day, accounting for 60% of its total oil imports, and in September 2013 became the largest importer of oil in the world, surpassing the US.
READ MORE.....
