China Discovers Oil Power - Herbert W Armstrong - December 1975

Herbert W Armstrong

In an age when-nil means power, communist China is in a big hurry to tap its newly discovered oil reserves and join the big league of oil producers. With a flurry of activity from the desolate stretches near the Soviet border to the South China Sea, China's backward oil industry is pressing hard to find, tap, refine, and sell its new-found treasure trove. Near Shanghai, construction of an "oil city" complete with refinery, petrochemical complex, and tanker facilities goes on around the clock. In the fifties, China was considered to be poor in oil reserves by Western geologists. From importing over 60% of its oil needs from Russia in those days, China has come to the place where she is now more than self-sufficient. With 1.2 million barrels a day in production, China is already second to Indonesia in Asian output. With sufficient Western technological help, some oil experts even feel China, by the early 1980s, could match the output of Saudi Arabia today. - Information Supplied By: Herbert W Armstrong Library