- Energy industry experts estimate that of the 10 largest mergers and acquisitions by Chinese companies in 2013, seven have been in the energy filed.
- Large, Chinese blockbuster energy deals have included a $10 billion government sponsored investment in oil and gas fields in Mozambique and Kazakhstan, and a $3.1 billion minority stake in Apache Corp.'s Egyptian oil fields.
- While Exxon Mobil and other oil companies have stayed away from Iraqi energy deals because of poor terms, Chinese oil companies have been willing to pay high royalties, taxes and other fees that add up to 90% or more of the profits.
- China, is either the largest or the second largest oil consumer to the United States and is expected to soon overtake the United States as the largest importer as well.
- "The country is also rapidly urbanizing, with hundreds of millions of Chinese moving from rural areas to the cities," CNNMoney said. "China is also adding millions of cars to the roads each year, a trend that only adds to demand for oil-based products."
All of which gets us into a sticky situation: even if the Unite States takes draconian measures to reduce its carbon footprint, an effort that is likely to reduce economic growth and living standards in this country, what difference will it make? As we see here, China is making long term investments in order to keep oil flowing to its growing number of citizens with access and wealth for cars, substantially increasing its carbon footprint while it grows its economy.
"This solicitation is intended to support development of reliable regional and decadal climate predictions that take into account the influences of living systems and are essential for projecting how living systems might adapt to climate change and its consequences for their physical environment,” the program solicitation explains.
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