China’s Hypocritical Energy Stance

An undeniable international energy race is now underway involving many of the world’s most powerful countries such as China, Germany, India, Japan and the United States. In particular, China’s need for oil has become extremely acute, forcing Beijing to act more deliberately by adopting a dual energy strategy.

The first part of this strategy calls for Beijing’s various state-run oil and natural gas companies to secure global energy resources regardless of cost, conflicting ideologies or existing geostrategic alliances. “China is indeed encouraging its companies to go overseas for long-term oil reserves.” said Jacky Choi of Value Partners located in Hong Kong. The second part of China’s energy strategy is equally important and involves the protection of state-controlled energy enterprises from foreign ownership, thus insulating mainland China from foreign economic and political influences.

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