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Old 02-16-2011, 12:27 PM   #229
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Re: Remember remember the 25th of January

Quote:
Originally Posted by Mal View Post
I think any hording being done by China is, at the moment, meant only to increase their "personal" supply so they aren't immediately hit by ever increasing oil prices once we hit peak oil (which should be happening soon, or already has). By 2050, unless there is a drastic change in oil consumption, oil production will be roughly half of what it is today.
The rather alarming thing is that along with oil supply, China is doing the same thing with Canadian farmland, owning large stakes in a lot of Saskatchewan. Add that to the similar relationship with the US, Canada has a lot of its resources spoken for before they even address our own needs. Last I read over 60% of our current oil is ear-tagged for US consumption and we have no recourse to reduce the actual amount, even if production goes down.
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