Democratic Underground Latest Greatest Lobby Journals Search Options Help Login

China On Track For 10% Increase In Oil Imports During 2006 -China Daily

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Topic Forums » Environment/Energy Donate to DU
hatrack Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-29-06 01:41 PM
Original message
China On Track For 10% Increase In Oil Imports During 2006 -China Daily
China's crude oil imports are expected to surge this year and exports will fall year-on-year as a result of market demand and trade policy adjustments, a leading industry analyst said yesterday. "Increased crude imports and decreased exports are results of accelerating local economic growth and higher dependence on import energy," explained Gong Jinshuang, a senior analyst at the Economic and Technology Research Institute of China National Petroleum Corp (CNPC).

'Trade policies discouraging oil products and crude oil exports are also crucial reasons behind the phenomenon," added Gong.

He estimated that this year's crude imports will stand at 144 million tons, a rise of more than 10 per cent year-on-year. Exports of crude oil for this year are expected to be 5.8 million tons. Meanwhile, a report from the Ministry of Commerce said that China's 2006 crude imports will total 140 million tons, with exports standing at 7.4 million tons.

Liang Shuhe, a senior official from the ministry, told Xinhua News Agency that robust gross domestic product (GDP) growth had forced China to depend more on imports because of limited domestic production.

Printer Friendly | Permalink |  | Top
NickB79 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-29-06 02:20 PM
Response to Original message
1. Huh, imagine that
Yesterday I was reading the business section of the Star Tribune here in Minneapolis, and they were predicted oil prices going down because, among other things, China's oil demand will decline because they will be trying to cool off their neck-breaking economic growth rate.

The thing is, China can't slow down it's economy without putting millions out of work, or leaving millions of new workers scrambling for fewer and fewer jobs. If that happens China will be facing massive protests and civil unrest.

At this point, it appears that China CAN'T reduce it's economic growth and subsequent oil consumption without risking fracturing their society.
Printer Friendly | Permalink |  | Top
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Sat Sep 23rd 2017, 02:43 AM
Response to Original message
Advertisements [?]

Home » Discuss » Topic Forums » Environment/Energy Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC