China’s Oil Security Problems and Solutions
China’s Oil Security Problems and Solutions
——based on Oil Global Supply and Demand （Sep 3, 2011）from Professor Albert Kwong
Ma Xiao
Abstract:
Oil is the most indispensable and important strategic energy in international society nowadays. During the past two decades, the problem of oil supply and demand has widely drawn the attention from all over the world. China, turning from oil self-sufficiency to the world's second largest oil consuming countries, is now faced with a huge demand gap. Oil security problems are too serious to be ignored. This essay analyzes the world oil situation and China's oil system, aiming at providing effective recommendations and solutions to those security issues.
Key words:
Oil demand, oil supply, oil security, solutions
1. Introduction
In the afternoon of September 3rd, 2011, Professor Albert Kwong, the Vice Chairman and Chief Operating Officer of Petro Asian Energy Holdings Limited, gave us a lecture on the world’s oil supply and demand. Professor’s wonderful presentation and deep analysis not only packed me with general but clear understanding of the world’s oil situation, but also raised my interest. As a Chinese who always cares about the development of his motherland, I was really eager to get to know what important role oil has been playing in China’s political and economical development, what oil supply and demand situation China is faced with, what problems exist in China’s present oil security system and how to solve those issues. With the desire in mind, I read a lot of relevant papers and searched for the latest information online. What follows is a summary of what I learnt and my reform proposals to China’s oil security system.
2. The status quo and development trend of world oil
2.1 Situation of world oil supply
The world’s oil has a rich source and a great development potential, which can ensure long-term stable supply. Currently there is a reserve of 1.15 trillion barrels of oil. Based on
——based on Oil Global Supply and Demand （Sep 3, 2011）from Professor Albert Kwong
Ma Xiao
Abstract:
Oil is the most indispensable and important strategic energy in international society nowadays. During the past two decades, the problem of oil supply and demand has widely drawn the attention from all over the world. China, turning from oil self-sufficiency to the world's second largest oil consuming countries, is now faced with a huge demand gap. Oil security problems are too serious to be ignored. This essay analyzes the world oil situation and China's oil system, aiming at providing effective recommendations and solutions to those security issues.
Key words:
Oil demand, oil supply, oil security, solutions
1. Introduction
In the afternoon of September 3rd, 2011, Professor Albert Kwong, the Vice Chairman and Chief Operating Officer of Petro Asian Energy Holdings Limited, gave us a lecture on the world’s oil supply and demand. Professor’s wonderful presentation and deep analysis not only packed me with general but clear understanding of the world’s oil situation, but also raised my interest. As a Chinese who always cares about the development of his motherland, I was really eager to get to know what important role oil has been playing in China’s political and economical development, what oil supply and demand situation China is faced with, what problems exist in China’s present oil security system and how to solve those issues. With the desire in mind, I read a lot of relevant papers and searched for the latest information online. What follows is a summary of what I learnt and my reform proposals to China’s oil security system.
2. The status quo and development trend of world oil
2.1 Situation of world oil supply
The world’s oil has a rich source and a great development potential, which can ensure long-term stable supply. Currently there is a reserve of 1.15 trillion barrels of oil. Based on