Thursday, May 24, 2007

China and Darfur has a good piece on China's contribution to the Darfur crisis. An interesting tidbit:

"This funding came through our investments in companies such as Fidelity, which has major holdings in PetroChina and Sinopec--two Chinese oil companies that have poured billions into Khartoum's coffers. At least 70% of Sudan's oil revenues have been used by Khartoum to purchase attack helicopters, Antonov bombers and small arms used to kill and inflict immeasurable suffering upon the population of Darfur."

The article goes on to describe Warren Buffet's investments in Chinese petroleum importing companies:

"Mr. Buffett states that the real problem in Sudan is with China, not CNPC and PetroChina. But China's interests in Sudan are represented almost entirely by CNPC/PetroChina, which exports between 50% and 80% of Sudan's oil to mainland China."

It's clear that American and Chinese industries must compete on two different playing fields. If an American oil company got involved in Sudan to the extent that CNPC and PetroChina did it wouldn't be nor should be tolerated.

Also it's interesting to note that Warren Buffet dabbles in progressive politics. He was an adviser to the empty suit (and empty mind) of a presidential candidate known as John Kerry.

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