Energy policy: US vs. China
The Obama administration (more or less including the Bush administration) proposed renewable energy policy in the stimulus plan. The goal is to open a new market and generate more jobs. An implicit target is to reduce oil dependency. This was even apprant in the Bush administration's thinking.
On the other hand, the Chinese government is pushing another round of oil policy around the world. The leaders toured major oil producers aroun the globe in the beginning of 2009: Latin American, Saudi Arabia, Africa, and a supply agreement signed with the Russian government. New oil reservation tank projects were also announced so that the goal is to have 90-day reservation, which is qualified for OECD (Organisation for Economic Co-operation and Development countries). There aren't too many countries in the world can claim they are OECD.
At the end of the article there is a list according to www.oecd.org for completeness.
Thus, the Chinese government will actually increase their dependency on oil while the US government tries to reduce it. That is a long way to overhaul the oil dependency in the US even after years of R&D. At the same time, the Chinese policy will have more direct impact on the oil price when they're building up reservations. No one builds reservation at $140/barrel but obviously at much lower price. They have announced that they had accumulated oil at lower price but they apprantly need more from oil producers' tour.
Based on all these, we can say now the oil price has bottom and start upward.
OECD country list:
AUSTRALIA: 7 June 1971
AUSTRIA: 29 September 1961
BELGIUM: 13 September 1961
CANADA: 10 April 1961
CZECH REPUBLIC: 21 December 1995
DENMARK: 30 May 1961
FINLAND: 28 January 1969
FRANCE: 7 August 1961
GERMANY: 27 September 1961
GREECE: 27 September 1961
HUNGARY: 7 May 1996
ICELAND: 5 June 1961
IRELAND: 17 August 1961
ITALY: 29 March 1962
JAPAN: 28 April 1964
KOREA: 12 December 1996
LUXEMBOURG: 7 December 1961
MEXICO: 18 May 1994
NETHERLANDS: 13 November 1961
NEW ZEALAND: 29 May 1973
NORWAY: 4 July 1961
POLAND: 22 November 1996
PORTUGAL: 4 August 1961
SLOVAK REPUBLIC: 14 December 2000
SPAIN: 3 August 1961
SWEDEN: 28 September 1961
SWITZERLAND: 28 September 1961
TURKEY: 2 August 1961
UNITED KINGDOM: 2 May 1961
UNITED STATES: 12 April 1961
On the other hand, the Chinese government is pushing another round of oil policy around the world. The leaders toured major oil producers aroun the globe in the beginning of 2009: Latin American, Saudi Arabia, Africa, and a supply agreement signed with the Russian government. New oil reservation tank projects were also announced so that the goal is to have 90-day reservation, which is qualified for OECD (Organisation for Economic Co-operation and Development countries). There aren't too many countries in the world can claim they are OECD.
At the end of the article there is a list according to www.oecd.org for completeness.
Thus, the Chinese government will actually increase their dependency on oil while the US government tries to reduce it. That is a long way to overhaul the oil dependency in the US even after years of R&D. At the same time, the Chinese policy will have more direct impact on the oil price when they're building up reservations. No one builds reservation at $140/barrel but obviously at much lower price. They have announced that they had accumulated oil at lower price but they apprantly need more from oil producers' tour.
Based on all these, we can say now the oil price has bottom and start upward.
OECD country list:
AUSTRALIA: 7 June 1971
AUSTRIA: 29 September 1961
BELGIUM: 13 September 1961
CANADA: 10 April 1961
CZECH REPUBLIC: 21 December 1995
DENMARK: 30 May 1961
FINLAND: 28 January 1969
FRANCE: 7 August 1961
GERMANY: 27 September 1961
GREECE: 27 September 1961
HUNGARY: 7 May 1996
ICELAND: 5 June 1961
IRELAND: 17 August 1961
ITALY: 29 March 1962
JAPAN: 28 April 1964
KOREA: 12 December 1996
LUXEMBOURG: 7 December 1961
MEXICO: 18 May 1994
NETHERLANDS: 13 November 1961
NEW ZEALAND: 29 May 1973
NORWAY: 4 July 1961
POLAND: 22 November 1996
PORTUGAL: 4 August 1961
SLOVAK REPUBLIC: 14 December 2000
SPAIN: 3 August 1961
SWEDEN: 28 September 1961
SWITZERLAND: 28 September 1961
TURKEY: 2 August 1961
UNITED KINGDOM: 2 May 1961
UNITED STATES: 12 April 1961
posted by Intl.investment.services at
9:17 PM
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