Steelguru.com – Monday, 29 Jun 2009
Energy Intelligence reported that Chinese crude imports rose by 5.5% YoY to 4.04 million barrels per day in May with Iran becoming the largest supplier.
As per report imports from Iran almost doubled to 730,000 barrels per day while imports from Saudi Arabia reached 653,000 barrels per day down by 15.5% YoY.
Imports from Angola dropped 35.5% to 483,000 barrels per day, while volumes from Oman rose 70% to 319,000 barrels per day and imports from Kuwait almost tripled to 244,000 barrels per day.
(Sourced from Ssy.co.uk)
Comment – June 29, 2009
The fact that Iran is now China’s biggest energy supplier has implications beyond economics. China’s emergence as a superpower is now dependent on Iranian oil. Meaning that in any confrontation with the West – diplomatic or military – China is likely to side with Iran.
After all, China is unlikely to welcome the overthrow of Ahmadinejad and the installation of a western orientated regime in Tehran. This would jeopardise China’s economic emergence as western powers would be able to call the shots over its energy supplies.
To some degree this is already happening, with China recently warning the U.S. and other western powers not to meddle in Iran’s affairs
Again, we are reminded of a very gifted psychic friend who accurately foresaw the invasion of Iraq years before it seemed remotely possible. He now foresees a looming conflict with Iran in which China will play a leading role
Indeed, we can be grateful that the conflict hasn’t already begun. On April 17, 2009 Israeli planes were preparing to launch a strike
at an air show north of Tehran. Most of Iran’s air force had congregated there for an air display and had it gone ahead Israeli air strikes would have caught them on the ground, just as they caught Egypt’s air force in the 1967 war.
This time, however, Russian surveillance satellites caught Israeli preparations for the strike. In turn, the Russians informed the Iranians who called off the air show and dispersed the aircraft.
Had it gone ahead however, we would already be in the opening stages of what will become an apocalyptic conflict. That doesn’t mean it’s not going to happen though. It will, probably before the end of this year around November we can expect to see the first sparks.
So if war with Tehran starts to loom, the Western alliance won’t just be facing Iran or Syria or nuclear capable Pakistan or Hezbollah and Hamas but all of them together with China.
You can bet on China; it’s rise, as a global superpower will depend on it.
Last updated 03/07/2009