The challenge and countermeasures brought by the shortage of oil and gas in China

The recent development of Chinese economy is very striking, it also has caused a great increase in the demand for oil and gas. It is hard to meet this demand for resources. It is a great challenge to handle with the conflict between oil and gas shortage and fast growth of economy. Many scholars have put forward various solutions for this matter. Some recommend the way of overseas exploration, i.e, meeting the shortage through exploiting the overseas resources, but there are great risks in doing so. And some propose mass importation of oil and gas resources, but if this happens, we will be vulnerable to the worldwide petroleum shortage and high oil prices. Dependence on imports may also imperil the national strategic security since high dependency of oil importation is dangerous to a nation. In the long run, fastening the exploration and development in demostic oil and gas resources, advocating oil saving and looking for substitute energy is the best ways.

Published in: ASPO 2005 conference
Available from: ASPO conference 2005