Energy crisis in Asia
While economic growth in China has certainly contributed to the world economy there have also been problems as the result of the growth. One of the most serious problems is a shortage of energy. The energy shortage will continue into the future due to China's economic growth, which is being fueled by the infrastructure and manufacturing industries. Consumption of electricity and oil for automobiles is rapidly increasing in China because of industrialization and an increase of automobiles. In spite of the rapid industrialization the supply of electricity was limited in 26 provinces in China in 2004.
An energy crisis slows down Chinese economy which can result in slowing of the world economy. The 2008 energy crisis in China damaged power infrastructure resulting in further energy shortfalls in the manufacturing hub of Guangdong.
- Extreme cold temperatures
- Market manipulation
- Industrial actions
- Instability in key producing regions
- Clash of Asian countries over territorial disputes of potential energy sources
- Failure of regulation on energy consumption and then sudden energy crisis in China
- Failure of development of alternative energy
- Energy conservation
- Development of new and larger power plants
- Development of new energy sources
- Amicable solution on the potential oil region in the South China Sea and then development of the area
- Successful governmental regulation for rapid growth of energy consumption in China
- Hybrid or fuel-cell cars in China, U.S, and other countries
- Amicable solution in Middle East
- Securing coal and natural gas supplies with long term contracts
- The energy crises have changed the way the world sees China's rapid growth. China's reliance on coal fired power plants it quickly moving them up the list of carbon emissions putting question marks above the way developing eceonomies generate their power.
- A longer term energy crisis in China would stifle the economic growth and drive up energy commodity prices. This would impact the world and focus national interests either on the development of new sources of energy or on the securing of natural resources.
- '90s Chinese government revised its policy on self-sufficiency of energy because of the rapid increase of energy consumption in China
- '93 China became a net importer of oil
- '94 U.S and North Korea agree on KEDO
- '01 China and Russia agree on an oil pipeline construction
- '03 U.S, Japan and South Korea agree to freeze KEDO program
- '05 China (CNPC) takes over Kazakhstan's oil company
- '05 China secures oil rights in Iran, Kazakhstan, Iraq, Sudan, Venezuela
- '05 China experiences severe energy shortgaes
- '08 China again experiences severe energy shortgaes resulting in damage to power networks