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US Encourages China to Build a Strategic Oil Reserve

by Luis Ramirez

Laptop Battery The United States is encouraging China to build its strategic oil reserves because of concerns that the country's rapidly increasing energy demands may threaten the stability of world oil markets.

According to the indictment, Jones would steal various IBM and Penguin computer servers from Verisign's warehouse in Virginia and sell them to Johnson. Johnson would then sell the servers to several individuals, who would sometimes place them for sale on eBay. As a result of this scheme, the indictment alleges that Jones and Johnson caused Verisign to lose more than $120, 000 worth of computer equipment. In the indictment, Jones and Johnson are charged in three counts with causing the interstate transportation of stolen property, namely IBM 330 and 335 servers, in violation of 18 U.S.C.

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05 pm "It's said there were many people being laid off by IBM recently. I am worried." Oasis, do yo work at IBM, like my son If you lose your job there in China, tell me. We'll have you hired by IBM Zurich Research Center. They are investing a few dozen millions to build another facility in the coming months (the reason is that, at IBM Zurich, ), and they will need competent people. I'm not kidding...

Microsoft Oct 19, 2004 (AXcess News) Beijing - The United States is encouraging China to build its strategic oil reserves because of concerns that the country's rapidly increasing energy demands may threaten the stability of world oil markets.

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Laptop Computers China's economic boom has put more than five million new cars on the roads this year, helping its oil imports to surge by 37 percent in the past 12 months.This ravenous hunger for oil has triggered concerns in the United States and Europe over what will happen if a crisis disrupts the world oil supply.

(AXcess News) day reserve of oil. China will spend 5 billion yuan (US$620 million; euro516 million) to build oil reserves in the southern province of Guangdong over the next five years, the government said Saturday. one third of China's annual oil imports. Last year, the province consumed 140 million barrels of oil, the report said.

Laptop Computer Alan Larson, U.S. under-secretary of State for economic, business and agricultural affairs is visiting Beijing. While his trip is focusing on agricultural trade with China, on Tuesday he mentioned Washington's concerns over energy security to Chinese officials.

Contrary to the assertions of Robert J. Samuelson, the Clinton administration worked diligently to increase the oil in the Strategic Petroleum Reserve. Under Energy Secretary Bill Richardson, the Department of Energy implemented a " kind" program that enabled oil producers to make royalty payments in the form of 28 million barrels into the reserve in lieu of direct cash payments to the Treasury. Also, priced oil for more oil at lower future prices, barrel transaction.

Desktop Computer "We think that as China grows as a consumer and importer of oil, it will be important for China to have such stocks and to be prepared to use them cooperatively with other oil importing nations," he said.Advertisement

Notebooks Chinese state-run media last month reported the government plans to set up a company to build a strategic oil reserve infrastructure at a cost of $12 billion.

Lenovo However, analysts say developing the program promises to be slow.

Hard Drive Aside from the high cost of establishing a petroleum reserve, one big obstacle is that China has yet to build adequate storage facilities.

Travelstar Officials with China's National Development and Reform Commission, a planning agency, say it may be 10 years or more before China is able to store a 90-day emergency supply of oil.

Gateway Source: Voice of America

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