Wow, great prediction Jack! Wish I had read it a few days ago. But it seems you were right on the money with that one.
I'm not certain this would be a ploy to try to destroy the Chinese economy. If it is, expect gas prices to eventually reach $5+ in the US to even $10+ in the US and have a ripple effect to the rest of the world effectively making their prices even higher (which for those in the British Isles would royally stink).