China's Net Oil Imports Up 18.1% Through First Eight Months Of 2007 - AFP

[hatrack]

China's net imports of crude oil rose 18.1 percent in the first eight months of the year as the booming country's voracious energy demands continued to grow, state media reported Sunday. Net imports reached 108.2 million tonnes from January to August, Xinhua news agency said, quoting figures from the General Administration of Customs (GAC).

The world's second-largest oil importer, China has seen its demand for energy rocket as a result of its explosive economic growth, which has been in double digits for four consecutive years.

It has been a net importer of oil since 1993 and imported 138.8 million tonnes of crude in 2006, up 16.9 percent from the previous year.

Imports last year accounted for 47 percent of the country's overall consumption, and industry observers have warned imports might make up more than 50 percent of China's petroleum needs in a year or two.

EDIT

http://www.turkishpress.com/news.asp?id=197289

[brokensymmetry]

1. When you're about to hit the wall...

hit the accelerator.

Sure, makes sense to me.... :sarcasm:

We're gonna crash so hard. There will be tears beyond numbering.

[TomClash]

2. See Iraq nt