From The Economic Collapse:
The largest oil exporter in the Middle East has teamed up with the second-largest consumer of oil in the world (China) to build a gigantic new oil refinery... and the mainstream media in the United States has barely even noticed it. This mammoth new refinery is scheduled to be fully operational in the Red Sea port city of Yanbu by 2014.
Over the past several years, China has sought to aggressively expand trade with Saudi Arabia, and China now actually imports more oil from Saudi Arabia than the United States does. In February, China imported 1.39 million barrels of oil per day from Saudi Arabia. That was 39% higher than last February.
So why is this important? Well, back in...
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Forget inflation and the U.S. dollar... This could be the most important news for commodities right now