China Review News (CRN) recently published a commentary on the impact of the improved U.S. energy independence. The commentary mentioned that the U.S. energy self-sufficiency rate reached 81% in the first 10 months of 2011. The U.S. has transformed itself from a daily importer of 2.5 million barrels of refined oil to a net exporter of refined oil. Only 17% of U.S. imported oil is from the Middle East. Meanwhile, it is estimated that, in 2013, China will rely on imported oil for nearly 60% of its oil consumption. Today, Iran alone supplies 10% of China’s oil imports. China’s energy suppliers are mostly from the Middle East and Africa. In 2010, China’s share of the world’s energy consumption reached 20.82%. The commentary concluded, based on these numbers, that the highly improved U.S. energy independence offered a great opportunity for the U.S. to reshape its global strategy to focus on the East and to build a U.S.-centered Asia-Pacific order.
Source: China Review News, March 12, 2012