CRI听力：Oil Pricing

From the record highs in which it was at, the current price of oil per barrel seems somewhat miniscule.  After reaching a height of nearly 150 dollars US a barrel in the summer, the price of oil now is hovering around the 50 dollar a barrel mark.  Low consumer confidence is the key reason behind the drop, with market analysts fully expecting demand to drop given the global financial slowdown.  This current drop though does provide the Chinese government with an opportunity to implement its long-planned reformation of the oil pricing mechanism.  But what exactly will that change be?  And what impact will there be on the overall Chinese economy?  Ni hao, you're listening to    People In the Know , your window into the world around you, online at crienglish.com here on China Radio International.  In this edition of the program we'll be talking about the future for oil and China's oil pricing system.  So let’s get started.

(Music)

First we'll hear from a Chinese expert.  Zhou Dadi is the Director-General of the Energy Research Institute with the National Development and Reform Commission.

(Dialogue with Zhou)

And after a short break, we'll hear from a foreign expert.

(Promo)

Ni hao, you're listening to    People In the Know , your window into the world around you, online at crienglish.com here on China Radio International.  I'm Paul James in Beijing.  In this edition of the show we're talking about oil prices and China's efforts to implement a change in it's oil pricing mechanism.  For more on the overall state of oil prices we're joined on the line now by Mr. Paul Graham with the Commonwealth Scientific and Industrial Research Organization.

(Dialogue with Graham)

And with that we close out this edition of    People In the Know , online at crienglish.com here on China Radio International.  The revamping of China's oil pricing is a positive step to keep the Chinese economy in step with global economic situation.  Questions or comments for us can be sent to people@cri.com.cn.  For Executive Director Zhao Yang and Producers Chen Mo and Xu Yang, I'm Paul James in Beijing.  We'll talk to you tomorrow.