Arab Petroleum to China to Punish Iran…………
Aljazeera reports that Two visits, one of an Israeli minister to china and another of the American Secretary of Energy to Saudi Arabia and the Persian-American Gulf are related. The US secretary is trying to encourage Gulf oil producers to increase their exports to China in order to reduce her reliance on imports from Iran. This just a few weeks before an expected OPEC meeting in Vienna. Secretary Clinton has been pushing for that, and it is seeming to succeed as the UAE has raised its exports to China by 300% this year. Iraq is expected to increase its exports to China by 100% this year, Kuwait by 50% and Saudi Arabia by 12%. Iran, which has the second largest petroleum reserves in the world actually comes after Saudi Arabia and Angola in exports to China……. On the other hand, Chinese analysts expect American efforts to convince China to back tougher sanctions to fail……….
Will the mullahs have a hard time selling their petroleum? The crude market is not segmented like that, and it is usually hard to trace sources of crude once they hit the market. (Even Dick Cheney and his funny little task force probably could not do it, and they were all oil men). Besides, with the second largest reserves of oil and gas, the Chinese are not likely to give it up.
Cheers
mhg
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