CHINA / Foreign Media on China
US urged to work with China on energy issues
(Financial Times)
Updated: 2006-03-14 08:24
http://news.ft.com/cms/s/a0470f9a-b2c6-11da-ab3e-0000779e2340.html
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.��
His remarks highlight the extent to which energy security has moved
rapidly up the US political agenda, driven by an unusual coalition of
interests. These include national security specialists concerned about US
reliance on foreign oil in troubled parts of the world, environmentalists
and unions keen to create jobs in the US by developing alternative energy
sources.
Political interest in the issue was underlined by President George W.
Bush's unexpected comments in his State of the Union speech in January,
when the former oil executive warned that the US ��was addicted to oil��.
Mr Lugar on Monday called that phrase a ��seminal moment in American
history, when a US president said something contrary to expectations,��
and compared it with ��President Nixon using his anti-communist
credentials to open up China��.
As debate about Iran��s nuclear ambitions shifts to the United Nations
Security Council, Mr Lugar highlighted the dangers of transferring
billions of dollars to unaccountable regimes and warned that economic
sanctions against Iran might not work.
��Iran has been anticipating a crisis by accumulating funds [from high
oil prices], so if they shut off oil supplies it could have savings to
draw down for a long period of time. That is not well recognised and
allows Iran and other states a degree of invulnerability to economic
sanctions,�� he said.
Mr Lugar noted that 77 per cent of the world's oil supply was controlled
by foreign governments, and that the US paid 17 per cent more for its
energy in 2005 than the year before. Energy costs now account for a third
of the US trade deficit. He predicted that the US would spend $320bn on
oil imports this year.
To reduce US vulnerability he said he would introduce an Energy Diplomacy
and Security Act this week to expand international co-operation to
��enhance preparedness for major disruptions in oil supplies��.
He said a priority was formal co-ordination with China and India as they
developed strategic petroleum reserves. He also called for new regional
partnerships in the west.
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.
Related Full Coverages
NPC session ends, Premier meets journalists
Premier Wen Jiabao answers questions from foreign and domestic
journalists after the conclusion of the annual session of the National
People's Congress in Beijing March 14, 2006. The annual meeting of the
top lawmaking body closed at the Great Hall of the People. [Xinhua]
UNSC members meet for Iran nuke issue
Most Commented/Read Stories in 48 Hours
� Bird flu control long-term task: Vice Premier
� Top legislature mulls abolishing agricultural tax regulation
� Hebei court hears deadly land dispute case
� Top legislature mulls abolishing agricultural tax regulation
� Top legislature mulls abolishing agricultural tax regulation
Today's Top News
� Wen: We're keeping close eye on secessionist moves
� Premier rules out RMB surprise rise
� NPC endorses shift in economic policy
� Minister: Stay away from wild birds
� Wen: China to stay the reform course
Top China News
� Chertoff: China won't take back deported citizens
� Premier: No RMB surprise rise
� Rules to regulate TV entertainment contests
� Toll hits 21 in N. China coal mine blast
� China to press on with reforms: Premier Wen
Chinese Mandarin
No comments:
Post a Comment