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China’s Energy Strategies in Light of the Changes in the Global Energy Pattern

On July 3, 2012, China Review News published an editorial discussing China’s energy strategies from the perspective of the current changes in the global energy pattern. The 2012 World Energy Statistics Yearbook showed that China’s primary energy consumption increased 8.8% last year, far exceeding the decline in the level of consumption in developed countries. China’s dependence on foreign oil increases about 3% every year. In 2011, China depended on foreign oil for 56.5% of its usage. Meanwhile, the U.S. energy self-sufficiency rate has been gradually increasing; in 2011, it reached 81.4%.

The article asserted that China must speed up its domestic oil exploration and development in the sea and the western territory. At the same time, China must make full use of energy resources around the world by jointly developing oil and gas resources with the countries in Central Asia, Russia and the Middle Eastern areas. China must also actively study and track major trends in energy technologies and lay a solid foundation in energy technology and innovation.

Source: China Review News, July 3, 2012