Kjell Aleklett: "US raises concern over China oil policy"

Over 70% of China

Small oilfields in China constitute 30% of production and the trend is for continued increased production from these. However, in a few years the production declines in the giant fields will be so great that total Chinese production will decline. In coming years we will experience aggressive bidding from China whenever any oil production rights are offered for sale. The next step is for China to build new refineries in collaboration with major oil producing nations such as Saudi Arabia. When Peak Oil affects the world these refineries will, naturally, be first in the queue for Saudi oil. For the sake of its own survival, the OECD must take Peak Oil seriously and plan for its future energy needs post-Peak Oil.

Some years ago I saw a documentary on Walmart