Energy: China turns tables on U.S.

Energy: China turns tables on U.S.
WEDNESDAY, SEPTEMBER 2, 2009

China seems to have taken a page from Warren Buffett’s book of investing. Buffett says that only four things really count when making an investment, "a business you understand, favourable long-term economics, able and trustworthy management, and a sensible price tag". It doesn’t seem like he American government followed this advice in the recent financial bailout packages handed out; we still don’t understand exactly how what happened occurred nor do we trust the management that caused the problems.

China, on the other hand, seems to be following Buffett’s advice to the ‘T’.While the entire Western world remains cash-strapped, cash-rich China has been buying oil and natural gas assets around the world while expanding its coal production and investing in renewable technologies; in short, they are investing heavily in energy It is a turn of the tables that seems to fly in the face of established thought in the West that American democracy and captialism has always and will always be the best way of running a society and doing business. Perhaps, the 21st century will belong to China.

China has already thrown down $13.4 billion dollars on purchasing distressed oil companies around the globe.

More…
http://asianenergy.blogspot.com/2009/09/energy-china-turns-tables-on-us.html