Thursday, August 04, 2005

Growing Asian demand for energy could alter US strategy

China and other nations have launched a concerted push to secure access to oil and natural gas, and the United States must consider how to respond.
It's probably too strong to call it a pipeline-and-tanker version of a global arms race - in fact, that's precisely what many world leaders hope to avoid.
But in an era of rising oil prices and burgeoning demand for fuel, the issues of energy and national security appear increasingly linked.
...Up to now, the US has relied largely on oil markets to divvy up resources. Its focus is on promoting an expanding and smooth-running global energy market. China is deploying government wealth - fed by its large trade surplus - to back the expansion of firms like CNOOC.
"To support their economic growth countries like China and India are aggressively moving to secure new energy streams," says David Phillips, an energy expert at the Council on Foreign Relations in New York. "The US needs to have a comprehensive energy strategy, which is part of our overall national-security strategy."

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