China 'Friend or Foe'

By A. True Ott

Two days ago, my wife and I returned from a week-long Alaska cruise which began and ended in Seattle. Before we left the dock in Seattle, I couldn't help but be amazed at the thousands of sea-containers being unloaded from large barges flying Chinese flags. Each of the sea-containers were marked COSCO (Chinese Offshore Shipping Company) or China Shipping. I guess what amazed me is that I saw no other foreign ships or containers. It was all China, China, China, at least on the specific dock across from our cruise ship, Holland America Line's Westerdam.

This summer, the Olympics will be held in Bejing. The number eight is very symbolic and sacred to the Chinese people, I understand. It is no coincidence, therefore, that the
opening ceremonies are scheduled to begin precisely at 8:08 pm, August, 8, 2008 (8-08-
08).

In talking to certain individuals in the oil and gas industry, they tell me that the primary reason we are seeing such high fuel prices worldwide is the fact that CHINA is buying all the world's reserves of refined gasoline, and especially diesel as fast as it can be refined --- thus greatly increasing the worldwide demand. WHY does China feel the need to stockpile such a strategic commodity in such a manner? Moreover, should America be concerned?

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