China’s 3-Step Plan to Energy Independence

China wants to depend on the fat cats in bed sheets sitting in their silver made (not silver-plated) Mercedes in garages with Swardovski Crystal chandeliers for lights…in their garages!

China has a plan, albeit a long range one.

By 2010 – just two years away, China wants:

1. 10 new oil fields with a reserve of at least 100 million tons

2. 8-10 new gas fields with more than 100 billion cu m of natural gas

3. 200 large mines with coal, iron and copper 

In 2006, China's imports of oil made up 45% of domestic consumption.

Domestic crude oil production is growing 1.7% annually.

Domestic crude oil consumption is growing 12.8% annually.

In a few years, if not already, China, the world's second largest crude oil importer will be looking like America.

America, what's your plan for independence? 

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