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Explaining China’s New Oil & Gas “Stockpiling” Strategy

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By Brian O’Connell, Special To Hart Energy
September 7, 2012

China's aggressive stockpiling of oil will have serious political and economic ramifications in the U.S., effects that could influence election outcomes and gas-pump prices in both the near term and long term, according to industry expert Chris Faulkner, CEO of Dallas-based Breitling Oil and Gas.

According to the International Energy Agency (IEA) China 2012 Update, China has completed four stockpiling facilities and has begun construction of eight more, for a combined capacity of more than 300 million barrels as part of its Strategic Petroleum Reserve (SPR) plan. A planned third ...

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