China Recognizes Oil Versus Solar/Wind As Major Energy Source

EIN News says, "China Eyes Canada's Oil Sands In the northern reaches of Alberta lies a vast reserve of oil that the U.S. views as a pillar of its future energy needs. China, with a growing appetite for oil that may one day surpass that of the U.S., is ready to spend the dollars for a big piece of it. (huffingtonpost.com)".

China is now the fifth largest oil producer in the world, among 114 countries. It produces 4 million barrels per day, and is ahead of Canada and Mexico.

China obviously realizes the importance of oil as an energy source, even though they are now fifth in world production.

Notice that in spite of a little talk on solar and wind energy, the major concentration is on oil and coal.

Notice also that China has great ability to purchase foreign oil sources, with US dollars obtained from our purchase of their manufactured goods.