China and India’s pressing energy crunch

The warm welcome given by Chinese and Indian diplomats to the recent agreement by the two countries to strengthen economic, military and business links did not specifically mention one key issue – access to energy supplies.

By 2030, China will be importing the same amount of oil as US currently imports daily. And India’s daily oil imports will have overtaken the European Union and Japan.

Those figures are from the International Energy Agency (IEA), which advises governments around the world on energy issues.

“The oil markets will get tighter and tighter,” says Fatih Birol, the IEA’s chief economist.

BBC