Asia has a paltry 5% of the world’s oil reserves.
Compare that to the former Soviet Union which has more than one fifth (20/8%) and Africa and the Middle East which has nearly 2/3s of the oil reserves (60.5%).
What to do…China National Petroleum Co. and India’s Oil & Natural Gas Corp. teamed up to buy a Syrian oil field!
I thought about doing that once…buying a gas station. But then, I realized I still had to buy the gas before I could pump it out.
The reason India and China went in to buy the field together was so that they didn’t bid each other out of a fair price for the field. Now, that sounds smart to me.
Why can’t other countries find a similar working relationship?
What do you think?