August 23,2005 -- China's growing thirst for oil has placed a far greater strain on the world's top supplier, Saudi Arabia, at the very time doubts are being raised about the kingdom's ability to substantially increase, or even maintain current oil production.
Should output falter in Saudi Arabia or any other Middle East nations, some analysts warn of serious global tension. Military conflicts over access to diminishing world oil resources between China and the world's biggest oil importers, the United States and Japan are a very real concern. Unless alternative sources of energy are found soon, the world's oil prices could climb to the point of a world wide monetary collapse.
With its economy growing by leaps and bounds, China is forced to meet its enormous energy needs by intensifying its political and finical ties to major energy producing countries. China is on a buying spree at the moment, seeking to buy a wide array of foreign oil and natural gas assets.
