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Friday, December 24, 2004

Hu and Hugo Sittin' in Beijing

D-E-A-L-I-N-G. That's right; Venezuelan President Hugo Chavez is visiting China:
Visiting Venezuelan President Hugo Rafael Chavez Frias said here Friday that Venezuela and China willhave a bright future for their energy cooperation as the two countries enjoy sound political relations and China's economy is developing rapidly.

The two countries have made significant progress in energy cooperation since the two nations vowed to establish a bilateral strategic partnership of common development in 2001, Chavez told an audience of nearly 50 businessmen attending a China-Venezuela business talk.

"The progress is the result of Chinese and Venezuelan leaders' strong commitment and businessmen's vigorous push," he said.

According to Chavez, his visit witnessed the signing of a package of energy cooperation agreements between Venezuela and China.

The Venezuelan government will grant Chinese companies production permits to explore oil in Venezuela's oil-bearing blocks.

Chavez also pledged to support Chinese companies' involvement in the exploration of the off-shore natural gas fields in Venezuela.

Most experts seem to agree that our number one rival in sucking the earth dry of oil will be China. Well, just this week they've made deals with two of our top four pushers:
Top Petroleum Exporters to the US, Oct 2004
CountryBarrels (millions)% total US Imports
Mexico 53.394 16.7%
Canada 52.311 16.3%
Saudi Arabia 49.011 15.3%
Venezuela 41.229 12.9%
Nigeria 31.889 10.0%
Iraq 20.000 6.2%
(source, via Michelle)

And even number six, that shining beacon of democracy on the Tigris, is talking to the Chinese!

I tell you, the next decade or two may be absolutely horrible, but they won't be dull!