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Oops! or a thought for a Wednesday

Posted by Heading Out on April 19, 2006 - 9:57am
Topic: Supply/Production
Tags: china, lng, natural gas, oil, united states [list all tags]

Well there we were, Dave and I, trying to point out the advantages of ensuring supplies of fuel for the future, by recommending the benefits of long-term supply contracts. There was some evidence (vide Korea and the UK) of the cost and access assurances that these can provide. However that is, apparently, frowned upon in high places. From today's NYT.
The competition for access to oil is emerging high on the agenda for President Hu Jintao's visit to the White House this week. President Bush has called China's growing demand for oil one reason for rising prices, and has warned Beijing against trying to "lock up" global supplies.
Perhaps you might wish to talk about the relative merits of prudence, but then perhaps not . . .

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