Hurricane diverts oil-price anger from gas-guzzling China – Catherine Armitage

From the Australian:

For the Beijing bureaucrats who control China’s petrol pump prices, the cloud cast by over global markets is lined with silver.

At least for now, Katrina’s disruption of the US refineries – not China’s voracious demand – is copping the blame for the global oil supply squeeze that sent prices to record levels last week.

Katrina may even deliver a windfall to the Chinese economy that will offset the higher cost of energy.



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