China's Worries as the Largest Importer of Crude Oil

In early October 2013, the U.S. Energy Information Administration (EIA) issued two reports within a few days. One said that the United States would become the world’s largest non-OPEC crude oil producer in 2013; the other forecasted that the U.S. The difference between oil consumption and production was 624 million barrels. In the same period, China's difference was 6.3 million barrels. China has surpassed the United States to reach the largest crude oil importer ever since.

Fall out. When the front visor is removed, the beam will be completely on China's head.

The US Energy Information Administration, which claims to conduct independent data investigations and analysis, uses "gamechange" to describe this transition. Apart from possible changes in its domestic energy prices and overseas oil and gas resources, it also seems to mean that the protagonist of the international energy market is changing.

Estimated by net imports, China’s dependence on foreign oil has increased from 32% at the beginning of this century to 57% in 2012. Over the past few years, China’s car ownership has increased rapidly, and crude oil consumption has seen a spurt increase, but domestic crude oil production has only grown slightly.

Recently, the National Energy Administration has for the first time incorporated shale gas into a strategic emerging industry, and stipulated that shale gas ex-factory prices should be market-priced, increase financial support, and reduce or eliminate mineral resources compensation fees and mineral rights fees for shale gas mining enterprises. Research and introduction of tax incentives such as resource tax, value added tax, and income tax.

“The trend of China's oil dependence increasing year by year is already certain. It is only a matter of time before dependence increases to 60% or even higher.” A long-term researcher of oil and gas resources told Caixin reporter that China’s oil and gas resources are per capita The volume is inherently low, and with the increase in economic development and per capita oil and gas consumption, the contradiction between oil and gas shortages is no longer surprising. On the other hand, in the United States, while the oil and gas production continues to grow, its per capita car ownership and passenger car mileage have shown a downward trend. Between increases and decreases, the contrast between the two countries is even more pronounced.

“The big cake is that the key is how to save on consumption. This requires the government to think about ways to guide the consumption structure.” This is a reflection of Chinese scholars, and overseas observers are more concerned that US energy may be self-sufficient as a cornucopia of crude oil. In the Middle East and other places, what is the strategic significance of its energy channel?

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