I find it interesting that the evaluation of China’s energy future puts the country in the same kind of predicament that the US experienced in the 1970s. The major difference is that China’s appetite for fossil fuels is just beginning to rise where the US had been trying to curb that appetite. No hint of curbing the appetite for energy here.
The World Energy Outlook is the International Energy Agency‘s annual report on the state of the international energy market, and the current report is remarkable for its analysis of the tectonic shift centred around China. As the Chinese demand for fossil fuels grows, it will control the pricing of key commodities and dominate the market for efficient and renewable energy technologies. Of more interest to the security community, China is also likely to end up with an interest in the Middle East similar to that traditionally held by the United States.
China at the Centre
When China closed a series of coal mines due to unsafe working conditions last year, China’s share of imported coal rose by 2.7%. It was an unnoticeable difference domestically, but for a six-month period, global average coal prices jumped to $120 from $90. This was a taste of things to come. As China…
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