China Feels The Cold

China, already planning to create its own strategic oil reserves beginning next year, is running into a natural gas shortage this winter:

Officials in power-hungry Beijing are considering ways to get over a natural gas shortage, the extent of which has not been seen in 20 years.

Supply has this year been ensured only by reducing industrial and motor vehicle consumption.

There's a variety of reasons behind the shortage, mostly related to the inability of the command-control portion of the economy to keep up with the capitalistic growth in others. But read the whole thing. And wonder no longer when oil prices rise.