China And the Global Energy Crisis: Development and Prospects for China's Oil and Natural Gas

`This is a timely volume. Understanding the oil and gas industry that China has at home is an essential prerequisite to understanding Chinese foreign policy and the future role of China in world oil and gas markets. It is certain to be a major one.' - From the preface by Ron Oxburgh, Lord Oxburgh of Liverpool, (Climate Change Capital) China's rapid economic development is having profound implications for energy resources. China has always been exceptionally reliant on its abundant coal, but consumption of oil and gas have grown rapidly since reform began in the 1980s. In spite of vigorous domestic development - most recently in the Tarim Basin - China is now consuming approximately 8 per cent of the world's oil output but producing only 4 per cent. China's emergence as an energy importer has given rise to concerns that it is a major contributor to recent turmoil in energy markets. This book examines China's record of oil and gas development, its refining capacity, and energy prospects. The authors conclude that there are no fundamental reasons for anxiety about China's demands on the world energy economy, but they emphasize that its energy future will depend critically on a continuation of reform and internationalization. China and the Global Energy Crisis is a concise but detailed study of these issues. This book will appeal not only to readers concerned with China and energy issues, but also to a wider readership seeking to understand China's development and its global meaning.