Power to secure energy supply

• Source: Global Times
• [03:17 December 14 2009]
• Comments

The United States has 16 military bases across the world to protect the strategic sea routes through which its oil import is transported.

In stark contrast, China does not have a naval force strong enough to protect its strategic route. The land-based oil and natural gas pipeline could be the target of a terrorist attack or a casualty of policy inconsistency and politics.

Another great danger lies in the absence of a proper strategic oil reserve system, which China didn't start building until five years ago.

If all goes well, China may have an oil reserve inventory of 30 days supply by 2010 – in contrast, the US strategic oil reserve can last for 150 days.

Lack of an overall energy security strategy has put the lifeline of China's economic growth in great jeopardy.

China needs to get together its diplomatic, military and economic strengths and talent to put in place a secure and comprehensive oil supply chain.

China should also make its strategy clear to the world community. Hiding its intention will not help dispel the fear and worry of other countries.