The Vicious Competition For Peak Oil

Excerpt:

The more relevant concern, at least in the short-term, about oil should not be how much there is but who will own it. The fight for crude ownership has picked up recently. Two decades from now there may be as much annual supply as there is this year, but the Chinese may have doubled or tripled their share of that market. The obstacle to that happening is that Western oil firms such as Exxon Mobil (NYSE:XOM) and BP (NYSE:BP) will get into bidding wars with China-based oil operations for new deposits but that bidding could become extraordinarily expensive.


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