Stable long-term oil supply predicted
China can maintain a healthy oil supply with new discoveries in its sea and land-locked western regions, despite growing exploration difficulties, experts claim.
Zhai Guangming, an academician of the Chinese Academy of Engineering, said China’s annual oil output could reach 185 million to 195 million tons.
Speaking at this weekend’s forum on the nation’s energy strategy, he said:”China is able to maintain such an output for some 10 to 15 years.”
By fully developing old oil fields in the east and increasing drilling in the west and offshore areas, China’s annual crude oil output could surpass 200 million tons by 2020 and remain at 170 million tons by 2030, said Zhu.
China really should take this chance now to develop alternative fuel and power resources. It is going to cost China more in redeveloping their infrastructure in the future, hence they are better off slowing their progress now and be ahead of the curve 10-15 years now.
europe and the other countries have been trying for over 100 years to get into china, for the oil reserves.
True, and agreed.
China should use their oil reserves SLOWLY, and hold back as long as possible. Look to others for alternative choices. DONT jump on the band wagon with the rest of us…Being dependant SUCKS.
”China is able to maintain such an output for some 10 to 15 years.”
And then…???
Their definitions of “stable” and “long-term” scare me.
“…China’s annual crude oil output could surpass 200 million tons by 2020 and remain at 170 million tons by 2030…”
So they can party like its 2020 – after which their output will be in decline.
Will their demand decline as well?? No, I didn’t think so…
YEP,
Its the idea that you FEEd the Dragon, ALOT..And then expect it to go on a diet, in 10 years…NOT easy.
Also, 1 gallon of gas is about 5 lbs… Thats only about 40 million gallons, per YEAR. That REALLy isnt alot. Wouldnt last 1 day in the US.
Am I the only person reading the alternative energy stuff these guys post here?
I’m not going to wander back and find the appropriate Posts; but, my recollection is that China has already hit #1 or #2 in the world for production and installation of wind generators — and #1 for solar panels installed on individual homes. I don’t doubt they have miles to go. That market, however, is why major players like BP are ramping up production of solar panels in China.
We had a terrific all-round discussion just a week or so ago — on the Three Gorges hydro project which will be producing billions of kilowatts as it ramps up over the next three years.
Getting that oil supply — building nuclear power plants — sorting out the natural gas fields lying between China and Japan — all are parts of a distributed power plan. It already looks like they’re avoiding being in the Magic Bullet business.
#5…moss….yep…we did. I said then that they are well on the road to developing alternative fuel sources and the reason is the goverment. It’s one hell of a lot easier to push through what you want to do as a goverment that isn’t elected or has to be re-elected. Chin is still for all intents and purposes a dictatorship. This makes it all very easy for the goverment. But, while they aren’t to high on the human rights ladder, they are doing everything they can to make their country(hence it’s people) as advanced and livable as possible.
I envy their ability to make the changes that are needed, I don’t however envy the goverment that goes with it.
Well…there’s always going to be tradeoffs, either a government is corrupted by big business capitalism as the motivation for policy making, or it can actually make decisions in the best interest of the government and the people at the cost of some human rights…
I am not sure what is exactly better at this point, but perhaps China may be on to something here…