China becomes world’ biggest net importer of oil displacing the US

Sunday, October 13th 2013 - 12:09 UTC

Full article 7 comments

China has knocked the US from its top spot as the world's biggest net importer of oil, US government data shows. The country's fast-growing economy, as well as the rise in car sales, has led to its new status, according to September's data. Oil consumption in China had outstripped production by 6.3 million barrels a day, said the Energy Information Administration (EIA). In the US, the figure was 6.1 million. Read full article

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GeoffWard2
If China takes most of the oil, will my fuel bills go up?
Oct 13th, 2013 - 12:22 pm - Link - Report abuse 0
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Brasileiro
China is the only global superpower!
Oct 13th, 2013 - 04:30 pm - Link - Report abuse 0
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ChrisR
@ 1 GeoffWard2

Come on Geoff!

With the tendency of the government to suppress the gasoline prices to prevent riots why should your fuel bills go up irrespective to how much oil anybody buys from Brazil?

Except “Brazil” and “economy” seem to be mutually exclusive words the way things are going presently.
Oct 13th, 2013 - 04:54 pm - Link - Report abuse 0
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Pugol-H
@ 2 Brasileiro
We are still quite some way off that scenario, if it ever materialises.
Oct 13th, 2013 - 06:51 pm - Link - Report abuse 0
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Anglotino
Poor China. Now it will have to deal with the Middle East.

PMSL
Oct 13th, 2013 - 08:22 pm - Link - Report abuse 0
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Conqueror
@2 China is classified as a developing country. Much like Brazil. And, just to clarify, the difference between “developing” and “developed” is not determined by whether water “runs” indoors. Looked at logically, being an “oil importer” is not a good thing. It means that, in order to survive/progress, a country has to obtain/purchase a basic raw material from other countries. The corollary is that the importing country is at the mercy of the supplying countries. Countries with “trade” links to China and oil reserves should be aware. When they can't pay, China may want the oil!
Oct 14th, 2013 - 10:29 am - Link - Report abuse 0
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geo
chinese are very smart and long term thinkers.
Oct 14th, 2013 - 07:04 pm - Link - Report abuse 0
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