China Is Now the Biggest Oil Importer in the World
Apr 9th 2013 11:01AM
Updated Apr 9th 2013 11:06AM
After more than 40 years on the throne, the U.S. is no longer the biggest oil importer in the world. In December 2012, the Financial Times reported that China had imported more oil than the U.S., and OPEC expects China to permanently take hold of the position of top importer in 2014. This transition could have wide-ranging economic and geopolitical implications. Erin Miller sat down with Fool.com contributor Travis Hoium to see what the effects will be and what companies may benefit from this development.
Energy investors would be hard-pressed to find another company trading at a deeper discount than Chesapeake Energy. Its share price depreciated after negative news surfaced concerning the company's management and spiraling debt picture. While the debt issues still persist, giant steps have been taken to help mitigate the problems. To learn more about Chesapeake and its enormous potential, you're invited to check out The Motley Fool's brand-new premium report on the company. Simply click here now to access your copy.
The article China Is Now the Biggest Oil Importer in the World originally appeared on Fool.com.Fool contributor Travis Hoium has no position in any stocks mentioned. The Motley Fool recommends Chevron. The Motley Fool has the following options: Long Jan 2014 $20 Calls on Chesapeake Energy, Long Jan 2014 $30 Calls on Chesapeake Energy, and Short Jan 2014 $15 Puts on Chesapeake Energy. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.