Chinese oil imports have jumped 39% through August of this year compared to the same eight months last year, according to government figures. China reportedly is in talks with Russia to buy a portion of Yukos.

One of the best quotes I’ve seen summarizing the energy supply and demand situation in China:

“The fundamental problem is that China is following the path of the United States, and probably the world cannot afford a second United States.”

Zhang Jia’nyu, Beijing Office of Environmental Defense
New York Times, The Week in Review, March 14, 2004