From AP (via: VOA): “The United States is encouraging China to build its strategic oil reserves because of concerns that the country’s rapidly increasing energy demands may threaten the stability of world oil markets.
China’s economic boom has put more than five million new cars on the roads this year, helping its oil imports to surge by 37 percent in the past 12 months.
This ravenous hunger for oil has triggered concerns in the United States and Europe over what will happen if a crisis disrupts the world oil supply. ”
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