Sunday, October 31, 2004
Well, This Can't Be Good
BEIJING: State oil giant Sinopec Group has signed a $70 billion oil field development and liquefied natural gas agreement with Iran, China's biggest energy deal with the No. 2 OPEC producer, an Iranian official said Friday.
The preliminary deal may yield political benefits far sooner than commercial ones as Iran courts China's favor on the UN Security Council, where Beijing holds a potential veto over any action against the Islamic Republic's nuclear program.
Shit, ya already helped give them the bomb, so why not inject nearly $100B into their economy while twisting the UN in their direction?
A big shiny quarter goes to the first person who can explain to me why China makes for a good trading partner. Let's examine the "trade" - we get to fill Wal-Mart with cheap lawn chairs, China get to clamp down tight on our economic nutsack by taking all those dollars we send over there and lending them back to the US. In the meantime, they keep using North Korea as a pawn to manipulate our Asian strategy, and constantly threaten Taiwan - which happens to be a democratic republic with a capitalist economy. And now they decide to engage with our enemy, which not only creates a severe short-term problem in mucking-up our ability to manage the blooming nuclear crisis there, but also sets in motion the upcoming resource war that I think we'll engage in the next decade or so.
I could be wrong. Iran might just take that $70B and buy some new lawn chairs.