China urges oil consumers unite - Reuters

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China urges oil consumers unite

By Emma Graham-Harrison
Reuters
Saturday, December 16, 2006; 4:42 AM

BEIJING (Reuters) - China, hosting its first major energy summit on Saturday,
urged top oil consumers to join together in the face of resurgent producer
power and sought to paper over differences on how best to achieve energy
security.

Ministers from the United States, India, Japan and South Korea -- nations that
consume nearly half the world's oil -- gathered in Beijing for the meeting,
which marked a rare move by China to take a leadership role on global energy
issues.

-snip-

The call to action may reflect a growing desire by China to engage with other
key energy users, some of whom have criticised its secretive approach, price
controls and a strategy favoring Chinese ownership of resources over spot
buying of oil.

It may also reflect shared concern over increasingly nationalistic policies
in major oil and gas producers that threaten to stymie investment and limit
new supplies.

-snip-

Full article: http://www.washingtonpost.com/wp-dyn/content/article/2006/12/16/AR2006121600208.html