China is ramping up. They are
China is ramping up. They are consuming more fuel and putting more cars on the road. Mathematically on a factual basis, fuel DEMAND over the next decade is on the rise. 4 percent consumes over 25 percent now (USA) and now we have China adding millions of vehicles every SINGLE year. There is over 1.3 billion people or 4x the size of the US!
Think AHEAD - we need action and we need it NOW - not later. Here are the facts NOW:
China has committed to Exploration, Production and Petroleum Infrastructure Construction Agreements in over 24 countries, some whom are unfriendly to the US
Since December 1st, 2007, China has spent approximately $236 Billion on oil purchase and "Loan for Energy" Deals to
secure future Oil Production for their countries needs.
China has signed agreements with IRAQ to consume oil production eventhough we defended and spent ALOT money there!
These contracts have the potential to deliver over 7.8 Billion Barrels of Oil to China
China has bid to purchase or bought large shares of stakes in over 22 International Oil Exploration and Production companies.
They are taking ACTION - we are talking. Just look at the Debt Ceiling discussion and it's indecision process.
We need Action - We need it NOW
Other Countries are making big moves and it consumes oil - ALOT of Oil