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| Friday, September 05, 2008 23:35:49 |
China to face energy over-reliance by 2010
China will be dependent on foreign sources for 50 percent of its oil needs by 2010, according to an energy report published by China's Social Sciences Academic Press, People’s Daily reported.
It forecasts that China would face an energy supply security problem in the next five years as international competition for oil heated up.
China's Energy Development Report 2006 proposed reducing dependence on imported oil, actively participating in competition on the international oil market and strengthening international cooperation to ensure supply security.
The Chinese Government is encouraging state-run oil companies to secure oil and gas deals in foreign countries so as to ensure oil security to maintain the nation's double-digit economic growth.
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