Sunday, September 16, 2007

China Inks Deal with Iran

China has just signed a $20 billion dollar (14.4 billion euros) deal with with Iran, this two-way trade marks an ever growing relationship with the Iranian government, as China struggles to meet the needs of a growing population. However, Sinopec (China's Petroleum & Chemical Corp) has stated earlier this year that they did not have intentions on buying Iran's expensive natural liquefied oil. As China continues growing, they just may have to go back on their word and buy more from the 2nd largest natural gas reserve (Iran). This comes at a unique time, as the United States is discouraging the use of Iran's energy resources, yet the United States fails to offer any alternatives. China needs the oil and Iran has the resources. Maybe the United States is stressing over the idea that Iranian interior minister stated "We have many big projects on the table," these project may leave America in the dark. One can only wonder with America having so many enemies, are the Chinese-Iranian relations strictly business? I guess we will see in the near future, because what's done in the dark always comes to light.

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