China’s strategic oil reserves
Source: http://blogs.moneyandmarkets.com/blog/china-and-asia-stock-alert/0/0/chinas-strategic-oil-reserves-Posted on Tuesday, August 19th, 2008 | In Asia
Contributed by: Tony Sagami (http://blogs.moneyandmarkets.com/blog/china-and-asia-stock-alert) -
China plans to build its strategic oil reserves in three phases over 15 years and expects to complete the construction of its first four strategic oil reserves by the end of this year.
China will have to jump into the open market to fill those massive storage tanks so what do you think that will mean to the price of oil when the buying binge starts?
Phase 2 and Phase 3 have yet to break ground.
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 About Tony Sagami (http://blogs.moneyandmarkets.com/blog/china-and-asia-stock-alert)
Tony Sagami, a veteran investment advisor and a leading expert on Asian markets, is the owner and founder of Harvest Advisors, an investment research and money management company. Mr. Sagami has been managing money for more than 20 years and is one of the early pioneers in the application of technical and quantitative analysis to mutual funds and stocks. He is a featured contributor to Weiss Research’s daily e-letter, Money and Markets and monthly Safe Money Report as well as the editor of Asia Stock Alert. Prior to establishing his own firm, Mr. Sagami was managing director at W.E. Donoghue & Co, serving additionally as the director of investment. During his successful career, he also held the position of account executive at Merrill Lynch. Mr. Sagami’s views on Asian markets, specifically Chinese investments, have been featured in publications such as The Wall Street Journal, Barron’s, Kiplinger’s, Smart Money, Business Week, New York Times, Washington Post, Investors Business Daily, Bloomberg, Financial Planning Times, Mutual FundsMagazine, Chicago Tribune, and the LA Times, as well as on CNBC and CNBC Asia. Mr. Sagami holds a degree in economics from the University of Washington. |
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