China Is Now Dangerously Dependent On Foreign Energy

China’s National Energy Administration may have disputed the latest International Energy Agency report which claimed China was now the world’s largest energy consumer, yet even by their own numbers Chinese commodity consumption is just monstrous.

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Yes there’s an easy comparison with 2009, given the global slowdown which happened, but the surge in Chinese imports is still impressive, and in particular shows the growth of coal as a Chinese import. That’s because China became a net importer of coal as recently as Q2 2007. Until then China had been self-sufficient, yet it’s now looking like China is dependent on foreign sources for yet another major commodity.

China (and South East Asia, ASEAN) is one of world's key drivers of global oil import growth

Source: IEA World Energy Outlook

China and India have massive energy demand ahead

Source: IEA World Energy Outlook

Oil and coal will remain key sources of energy well into the future, which means China needs to control these things

Source: IEA World Energy Outlook

The developing world (Non-OECD) are the future for oil and coal consumption

Source: IEA World Energy Outlook

Yet oil and gas investment was cut during the crisis

Source: IEA World Energy Outlook

The world needs to find a lot of new oil

Source: IEA World Energy Outlook

China's growing its foreign oil dependence far more than even America

Source: IEA World Energy Outlook

China still has to get power to a lot of its own people

Source: IEA World Energy Outlook

Which means huge future demand as China develops further

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