Mainland China economy and its crude oil requirements

I read a report from someone who attended a August 1 2006 agribusiness conference in Vietnam. I saw one presentation that stated:

"SUPPORTING BIODIESEL PRODUCTION IS LIKELY TO BECOME ONE MAIN ENERGY POLICY IN CHINA"

China needs about 320 million barrels of gasoline each year and in order to meet its domestic demand, China has to import about 130 million MT of crude oil. At present, about 50% of the annual increase in world crude oil trade arises from China. By year 2010, China's crude oil imports are expected to surpass 200 million MT.

With energy problems starting to threaten the development of Chinese economy, biodiesel production, together with ethanol, will become one basic national policy in China, along with the government likely to provide financial and taxation support. The most scarce resource in China is diesel, not gasoline.

Pinapakita kasi nila doon, dahil sa chinese economy and the crude oil price situation, expect daw an increase in soy bean and corn demand, and not for human consumption, but for biofuel production. Kaya daw expect increase din sa world prices for such food commodity like soy bean and corn.

Grabe ang fuel demand ng china. 50% of increase sa kanila. Wala na talaga pag asa bumaba ang presyo ng fuels natin kung ganun.

Yup, not only oil. China is responsible for the rise of other commodities like steel, copper etc.

Kaya pati ung mga cable ng PLDT sa poste ninanakaw. Kasi mataas ang bili ng mga junk shop ng copper wires.

also heard that china is investing in a corn plantation here in the philippines worth hundreds of millions of dollars, all the harvest will be exported to china for their fuel needs.