US urged to work with China on energy

The US must expand international co-ordination of energy issues, especially with China and India, to address concerns about growing global competition for energy resources, the chairman of the Senate foreign relations committee said on Monday.

In a speech in Washington, Dick Lugar, the influential Republican senator, warned: “No one who is honestly assessing the decline of American leverage around the world due to energy dependence can fail to see that energy is the albatross of US national security.”

..More controversially, he suggested that there be a $35 a barrel price floor for oil, to provide security for companies seeking to invest in alternative fuels. He admitted that he was still speaking to economists about how this could be achieved.

Financial Times