Will Our Next Oil Crisis Be With China? While America Focuses on Hurricane Katrina, China Quietly Buys Up Global Oil Reserves
While U.S. oil companies focus on recovering from Hurricane Katrina and consumers are paying over $3 a gallon for gasoline in most parts of the country, America's next energy crisis is looming quietly in the background, according to Jim Trippon, editor of the China Stock Digest.
Houston, TX (PRWEB) September 17, 2005 -- Americans are suffering at the gas
pump while U.S. oil companies recover from Hurricane Katrina. Although the
American public is focused on the devastation in New Orleans and Mississippi,
China stock expert Jim Trippon says, "America’s next oil crisis is quietly
brewing already and that crisis is with China."
Most American's will
remember the recent news of China's attempt to purchase Unocal. According to
Trippon, the multi-billion dollar deal, which was called off due to vocal
Congressional opposition, is only a foretaste of the coming global competition
for oil reserves. Trippon cites as proof the deal announced this week that
China’s two largest oil companies will buy the assets of Canada’s EnCana in
Ecuador for $1.42 billion.
Chinese President Hu Jintao, recently
speaking at the United Nations, urged heads of state to work together for energy
market stability. However, Trippon notes that it is only natural to expect that
China will pursue the "economics of self interest" in an era of rapid economic
growth and sky high oil prices. Trippon points at China’s policy of "Energy
Security" as a possible reason for China quietly buying oil reserves while
America is focused on its recent hurricane.
Trippon feels the mainstream
investment community has overlooked the importance China’s growing power in
world energy markets and what it will mean for American consumers at the pump.
"We had better get used to high gas prices," says Trippon. Trippon, an
investment consultant to some of America's wealthiest families, is also the
editor of the China Stock Digest.
The China Stock Digest which will
launch in December 2005, is a new monthly publication that focuses on helping
individual investors and business people understand and profit from China’s
economic trends and rapid growth.
Trippon is available for media
interviews on short notice. For further information or to schedule an interview
with Jim Trippon, contact Amal Zaid at 713-661-3806 or reach Trippon directly
24/7 at 713-498-8849.
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Source : http://www.prweb.com/releases/2005/9/prweb286472.htm