China Invest $73Bn In Global Oil Production
November 21, 2014
By Paul Homewood
Obama seems to think that the Chinese govt is serious about reducing CO2 emissions.
Meanwhile, Chinese oil companies, still primarily owned by the state, have been busy investing in oil production around the world.
According to the latest report from the IEA, China has spent $73 billion in the last three years and now control 7% of world output.
I somehow don’t think they will chuck that investment down the drain.
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NOT A LOT OF PEOPLE KNOW THAT 
Meanwhile back at the ranch:
http://uk.businessinsider.com/uk-has-more-wind-turbines-than-the-rest-of-the-world-another-21bn-worth-coming-2014-11
Depressing. Just play this tape forward 5 -10 – 20 years. Where will all these windmills be then? Don Quixote was a small time fool; this is real foolishness.
http://www.thingsworsethannuclearpower.com/2012/12/corruption-and-little-production.html
Wasn’t China only proposing to reduce CO2 emissions from 2030? By which time Obama et al will be history.
China produces stuff. People, especially people in the US, buy the stuff. Digital money flows to Chinese accounts. They buy tangible assets, resources, and technology. This converts electronic digits into wealth. Such things will be bringing them value well beyond the year 2030. Meanwhile, the stuff is used up, discarded, and replaced – with the next great must-have stuff. Repeat.
The chinese have been hoovering up oil cos for some time; nexen was a biggie
http://www.reuters.com/article/2013/02/25/us-nexen-cnooc-idUSBRE91O1A420130225
CNOOC closes $15.1 billion acquisition of Canada’s Nexen