ABC News China has been planning for an oil crisis for decades | ABC NEWS 2 hours ago The News Room China has long held a “double insurance” strategy to protect itself from an oil crisis. But what is it, and how is it helping China survive the closure of the Strait of Hormuz? Note: In most cases, our captions are auto-generated. #ABCNEWS #ABCNEWSAustralia Post navigation Previous Bungled bombing at Queen Victoria Market, suspect caught in the act | 7NEWSNext US and China relationship is like a ‘game of cat and mouse’