China’s Global Quest For Oil

International critics claim that China is seeking to secure oil contracts in nations with appalling human rights records that America, Japan, and Europe refuse to deal with. China has oil interest in Kazakhstan, Myanmar, Sudan, Chad, and the Republic of Congo — countries whose human rights records outrage the developed world. Oil trade between China and Iran has increased, with China spending roughly US$100 billion on developing one large Iranian oil field. Iran is frequently at odds with the U.S., Israel, and Europe, making China’s involvement with it an unpopular decision internationally.

So while many nations are critical of its methods, China will continue to attempt to quench its thirst for oil. The countries government has a much simpler view on the situation, “The world has the oil, and China has the money,” says Chen Huai, who is a member of the Chinese cabinet run Development Research Center. It seems like the rest of the world will just have to pay the price for China’s increased fuel demands as they are only going to increase.

Ohmy News