The chaos created by sudden fuel shortages in Guangdong Province continues. Even yesterday, I noticed several petrol stations guarded by armed PLA troops. The signs outside warned that fuel was only available for public and government vehicles. The official reason for the shortages proffered by the central government, laughably, concerned last week’s typhoon that hit the province. Additional speculation for the shortages blamed market distortions due to price controls, alas this was only partly correct. Finally, the Hong Kong media got it right yesterday, the real reasons for the shortages have been common knowledge in Guangzhou for several weeks...
Tuesday, August 23, 2005
The Peking Duck: Oil Wars
The Peking Duck: Oil Wars
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