China’s Quest for Oil

The Middle Kingdom can’t find enough oil to meet booming domestic demand—and the world is paying the price at the pump

….Today, however, output from China’s top four oil fields is in decline. By some estimates, the country’s current proven reserves will be depleted in as few as 14 years. Meanwhile, largely untapped petroleum pools believed to lie beneath western China’s desolate Tarim Basin are uneconomic to drill, even with prices at $50 a barrel….

Time Asia