Jason Barton

Professional Information and Energy News

China invests heavily in energy-rich states

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As China continues its almost meteoric rise in economic development, it continues to be very forward looking, and fairly aggressive, in securing the resources it will need to accomplish this development. Energy is obviously key. China’s development and energy issues have been the subject of several posts on this site, and are of personal and professional interest to me due to the enormous impact they will have on global development and energy issues.

The Three Gorges Dam, the largest hydroelectric facility in the world, is a major factor in China’s development process, and has also flooded many archeological and cultural sites, and displaced as many as 1.25 million people. China is also a world leader in other clean energy technology development, such as solar and wind power. Yet, all of these efforts combined are still not sufficient to satiate their growing appetite for energy resources domestically, which moves this beyond energy issues, into the realms of foreign policy and international politics.

As the article below points out, relations between China and the U.S. have occasionally been strained as the U.S. pressures China to fall in line on pressuring Iran to forgo their efforts toward nuclear weapons. China however, hungry to secure Iran’s considerable petroleum resources, is reluctant to do anything that might jeopardize its relationship with Tehran.

It is indeed a fascinating time to be alive, even if that fascination sometimes turns a little bit frightening.

By Syed Rashid Husain
Sunday, 14 Feb, 2010

Employees of China National Petroleum Corporation carry out routine checks at a gas refinery in Suining, Sichuan province. China is the world’s fourth largest crude oil producer but it is buying up energy assets across the globe and offering loans to several producing countries because of its rising demand. – Reuters/File photo

RIYADH: The quest for energy is making it more difficult for Beijing to go hand in hand with Washington on Tehran. Despite the crude demand in the developing world stagnating, energy supply security has assumed to be a major strategic concern for Beijing.

Last year, China imported 204 million tons of crude oil, up 13.9 per cent from a year earlier. Its January crude imports of 17.11 million tons, was 33 per cent higher than a year earlier. And in December 2009 its imports hit a record 21.26 million tons, up 47.9 per cent year-on-year.

Read the entire article here.