SINGAPORE — Cash-rich China is using a period of relatively low oil prices to improve its energy security and ensure that its economy has the oil-based fuels needed to sustain growth when recovery from the slump takes hold.
Should Japan, which is currently far more reliant on imported oil than China, adopt a similar large-scale strategy? It would mean providing billions of dollars in discounted government loans to Japanese national oil companies bidding for oil in major producing countries.
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