Chinese Crude Oil Imports Up Nearly 60% In May From 2003

[hatrack]

EDIT

"The General Administration of Customs said that diesel imports rose 67 percent to more than 300,000 tones in May from April, while crude imports fell 4 percent to 9.6 million tones.

Crude imports were up 59 percent in May from a year earlier and brought the country's total buying to 49.76 million tones, 55 percent of the record 91.2 million tones bought in 2003."

EDIT/END

http://www.menafn.com/qn_news_story_s.asp?StoryId=54731

[denverbill]

1. Scary stuff.

With oil production nearing peak capacity, oil prices are going to go through the roof.

[amandabeech]

2. Anybody looking for a return to $20 oil on a permanent basis

is not living in reality. We have so little in the way here of reserves that realistically we'll be importing almost all of what we use. The time to figure out how to live on a lot less oil and a lot less energy in general is now.