Joe Leahy

There was a little talk about how, you gestured towards this earlier, Katie, about how China's reserves may allow them to strike deals elsewhere.

With those emerging power, those emerging agent powers who basically don't have a national energy policy.

Well, China definitely wants it to happen.

I don't know if you saw the one on Taiwan.

China offered Taiwan a little bit of help with oil supply, which Taiwan politely refused.

So Taiwan's going to wake up tomorrow and there's going to be a horse's head in their bed, basically.

Exactly.

It's a possibility.

But again, China has to take care of its own needs first and foremost.

And they are very conservative on this front.

And how much Russian oil do they really want?

You know, after a while, you don't want to be too dependent on Russia either.

No.

And Europe just did a little experiment in that and it turned out badly.

It worked out very well, didn't it?

Yeah, absolutely.

I think the other interesting geopolitical thing in this for China is China has been quite close to Iran, although I think there have been frictions between the two of them in more recent years.

But China's also close to all of the Gulf states.

Yeah.

So it's tricky, yeah.