[KevO]

here it folks, the very end, every man for himself

Race to the world's energy hotspots Money no object as the big players grab what is left of a diminishing resource by Terry Macalister, Friday 7 July 2006, The Guardian :
The decision by Sinopec of China to pay $1bn for the right to explore for oil in deep water off Angola has shocked the west, which fears it could be left behind in a global scramble for resources.
Similar oil prospects off the coast of the impoverished African country were selling for $35m (£19m) less than a decade ago, when western oil giants such as BP and Shell had the field almost to themselves.
The rising power of oil companies from fast-developing and energy-hungry nations such as China and India have contributed to soaring oil prices. This week, they hit record highs of $75 a barrel, dipping only slightly yesterday.
"It's just like the British housing market. You have a lot of people chasing a few opportunities. The difference with oil is the companies have huge amounts of cash," said Derek Butter, an analyst at energy consultants Wood Mackenzie, based in Edinburgh.
And it is not just Angola that is benefiting. The Nigerian government has just sold 16 exploration licences in deep water areas for $500m and secured promises that the buyers will spend a further $20bn on new infrastructure projects such as gas-processing units. Licences have been offered almost everywhere recently: from the Gulf of Mexico to Brazil to Libya. It is only in fast-declining areas such as the North Sea that few of the large companies are really interested, although drilling activity has risen here, too.
The oil grab is also triggering a merger and acquisition bonanza. China National Petroleum Corporation recently bought PetroKazakhstan for $4.2bn, while China National Offshore Oil Corporation (Cnooc) caused panic in Washington last year when it tried to buy the US oil group, Unocal. …

ARTICLE HERE

[grabby]

Wise move by the dragon. He isn't stupid

They are using inflating dropping-in-value dollars to pay the amount so in effect they
1. can get rid of the dollars.
2. Cash them in for something worthwhile (Like casino chips)

So their maneuvers bought an oil field for "free" since they already were trying to get rid of these dollars, selling the dollars would drop their value and bring suspicion on the dollar. using them to buy goods, no one catches on.
till later..
China already is trying to find a way to get rid or cash in the barrels of dollars wlly l;and pays them etc etc of the dollars and get vallue.
I already mentioned once in my poststs they are vacuuming up all copper, gold steel silver titanuim that they can because if they cashed them in for euroes they would loose value.

The dragon is a dsmart player and they basically recieved free oil here.

inflation is going to be the reult of the vacuuming and we are going to be the ones paying for it.

I hate to say this but I have already said
Told ya.