Tuesday, May 27, 2014

Fueling the Dragon's Flames: China's Pursuit of Energy Security in the Middle East

By Daniel Thorp

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.