AP via VOA: “The dramatically increasing demand for oil in two emerging giants in Asia, China and India, has contributed to rising oil prices worldwide. Petroleum industry experts believe rapid growth in China, in particular, could increase competition for scarce energy resources and undermine global peace.
Within the past decade, China has gone from being a nation with a modest amount of oil exports to being one of the world’s largest importers. To some extent, Chinese imports are finished products from outside refineries, but there is no question that overall demand for energy in the world’s most populous nation is growing fast. ”
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