Editorial Comment ///
War with Iraq would seriously affect China. Countries worldwide are anxiously watching the potential attack on Iraq by the U.S. But none is likely more concerned than China, because a war and resulting Middle East upheaval would boost the country’s cost of oil imports and overall energy supply.
In the meantime, University of Houston professor Michael J. Economides, who just returned from an extended trip to China, thinks the country will be a hotbed of energy work over the next 20 years, with its new activities far surpassing that of any other nation, including the U.S. He also sees the U.S. energy industry standing to gain greatly in technology sales and services. As a result, he cautions that foreign policy ventures by the U.S. government cannot ignore Chinese interests. “Nothing is more likely to cause future global friction than actions by the current lone superpower affecting the energy future of the superpower-in-the-making,” he said.
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