China Is Rapidly Expanding Its Oil Resources In Africa

Posted by Haley Zaremba

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China is making a major power play to expand its global energy influence. The United States has long played an outsized role in global geopolitics and energy markets thanks to the shale revolution which jettisoned the country to the top of the fossil fuel food chain. But if you’ve been keeping up with any headlines out of the Permian Basin over the last few years, you know that the shale revolution is dead. As oil prices remain disastrously low, the U.S. is losing its foothold in global oil and energy markets, and when the dust clears and the geopolitical maps are redrawn, China could very likely come out on top.  Under President Xi Jinping, Beijing has made considerable inroads into power markets around the world.

This is in no small part thanks to the country’s assertive Belt and Road Initiative, which was announced back in 2013. President Xi’s global infrastructure development program entails hefty Chinese-led investment in as many as 70 countries and international organizations around the world.

China’s move into global energy markets is diverse and widespread, from nuclear to coal to renewable energies. Beijing’s geopolitical efforts have been particularly pronounced in Africa, a largely untapped market for energy infrastructure development and demand growth that Beijing is quite keen to dominate. In fact, China has been battling it out with Russia in recent months to establish dominance in the continent’s nascent nuclear sector. CLICK for complete article