SmartPlanet: China is calling for the oil can. So much so that the Asian economic giant will surpass the U.S. as the world's largest oil importer in October, according to the U.S. Energy Information Administration.
"The imminent emergence of China as the world's largest net oil importer has been driven by steady growth in Chinese demand, increased oil production in the United States, and a flat level of demand for oil in the U.S. market," EIA said in a press release.
With China yearning for so much foreign oil, it makes you wonder how geopolitics will change, and which flags might fly from the ships patrolling places like Middle East sea lanes.
Photo from theiranproject.com. Chart from U.S. Energy Information Administration.
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