Is Beijing Greedy for Oil?

Western countries are quick to blame China’s growing energy needs for rising prices. Instead, they should try to capitalize on it with new solutions

China’s growing appetite for energy has caused widespread concern in the West. The Middle Kingdom is blamed for the sharp increase in global oil prices in the past few years. Meanwhile, the U.S. is uneasy about Beijing’s cozy relations with major oil producers such as Iran, Saudi Arabia, Sudan, and Venezuela — some of which are hostile toward Washington. Some strategists think China’s vast energy needs could eventually be a security threat in a world of diminishing resources.
BusinessWeek Online