2006Natural Resource Economics of ChinaRequires access

Discussion on Petroleum Security Strategy of China in World Petroleum Price Soar

Zhang Yuan-feng

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Abstract

Petroleum is a kind of important strategic energy.It has a tremendous influence on national economic security.Some western strong countries sometimes try to control the overseas petroleum resources by force.At present China is faced with the next conditions: oil price in the world market is at the high level;the amount of domestic petroleum demand is increasing rapidly along with the rapid economic development,but domestic output of crude oil increases slowly,it causes the serious imbalance of supply and demand;the supply of crude oil in the world market is not stable as well.This paper analyzes the negative effects of high oil price on the economy,present situation of supply and demand,the price and risk of import oil etc.Then the authors put forward the next policy proposals: vigorously develop oil forward trade,establish oil reserve system and increase the efficiency of energy utilization etc.m.

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Petroleum is a kind of important strategic energy.It has a tremendous influence on national economic security.Some western strong countries sometimes try to control the overseas petroleum resources by force.At present China is faced with the next conditions: oil price in the world market is at the high level;the amount of domestic petroleum demand is increasing rapidly along with the rapid economic development,but domestic output of crude oil increases slowly,it causes the serious imbalance of supply and demand;the supply of crude oil in the world market is not stable as well.This paper analyzes the negative effects of high oil price on the economy,present situation of supply and demand,the price and risk of import oil etc.Then the authors put forward the next policy proposals: vigorously develop oil forward trade,establish oil reserve system and increase the efficiency of energy utilization etc.m.

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Available abstract

Petroleum is a kind of important strategic energy.It has a tremendous influence on national economic security.Some western strong countries sometimes try to control the overseas petroleum resources by force.At present China is faced with the next conditions: oil price in the world market is at the high level;the amount of domestic petroleum demand is increasing rapidly along with the rapid economic development,but domestic output of crude oil increases slowly,it causes the serious imbalance of supply and demand;the supply of crude oil in the world market is not stable as well.This paper analyzes the negative effects of high oil price on the economy,present situation of supply and demand,the price and risk of import oil etc.Then the authors put forward the next policy proposals: vigorously develop oil forward trade,establish oil reserve system and increase the efficiency of energy utilization etc.m.

Key concepts: Petroleum, China, Supply and demand, Soar, Oil-storage trade, Petroleum product, Economics, Natural resource economics

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