China Challenges US over Saudi Oil

The number two oil economy in the World, China, is challenging American hegemony over the oil fields in the Middle East. This will surely push peak oil in both the short and long term. By developing trade partnerships with oil producing countries like Saudi Arabia, China can avoid American interfence in its importing oil, since the Saudi's can claim its just a business deal.

China, the world's second biggest oil consumer, has been aggressively seeking to strengthen relationships with major oil suppliers as it grows increasingly reliant on oil imports. Saudi Arabia accounts for about 17% of China's imported oil.Total trade between the two countries - much of it Saudi oil bought by China - grew by 59% in the first 11 months of 2005 to $14 billion, according to China's Foreign Ministry. Some observers believe that the Chinese need for new oil supplies could lead to a stand-off with the United States over access to Middle Eastern oil. King to sign Saudi-China oil deals

Also see:

Oil Crisis

The End of the Oil Age

US Government Discovers Peak Oil

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oil

peak oil

China

Saudi Arabia

Middle East