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China should take energy security into its own hands

Jun 21 , 2019

Following shared by high strength sucker rod supplier.

Fu chengyu: China should be ready to cut off oil supply in the short term and basically achieve energy self-sufficiency within 15 years

On May 29, fu chengyu, former chairman of China petroleum and chemical corporation, gave a speech titled "China should take energy security into its own hands" in Shanghai derivatives market BBS.

Under the general situation of the world today, China's energy security problem has become more prominent. To ensure energy security, we should attach great importance to it and take concrete measures and actions. This is not alarmist, but an immediate reality.

High strength sucker rod supplier points that China's energy security needs to be resolved on its own. The key is to recognize and prepare in advance. This problem and risk can be minimized through our own efforts and international cooperation.

First, we need to be prepared for short-term supply cuts. We need to increase cooperation with other countries through market means, develop new ways of cooperation and reserves, and avoid short-term risks.

Second, strategically and in the long run, China will be basically self-sufficient in energy resources within 10-15 years from now, that is to say, over 80% of its energy will be supplied by itself. This goal should be formally formulated as a national strategy, and we have the foundation and conditions to achieve it.

We should work in three areas. First, we need to speed up the development of renewable energy, including electric vehicles, to minimize oil consumption in power transport systems.

high strength sucker rod supplier

Second, we will vigorously develop shale gas. The cost of shale gas in China has been greatly reduced in recent years, and the government is expected to combine institutional and market advantages in this regard. The government's direct management efficiency is too low, but it is completely market-oriented, and it has no institutional advantages. Emphasis should be placed on the great war system of the 1970s, when our country's oil reserves and production grew fastest. In terms of cost-cutting policies, there should also be significant reductions in shale-related taxes and loan rates.

Third, in the clean coal system, China has made significant technological progress said the Sucker Rod supplier, and ultra-supercritical coal for power generation is comparable to natural gas.

Taken together, these measures will enable China to take control of its own destiny in terms of energy security.

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Wang yilin, chairman of petrochina co., chaired a symposium to deal with economic and trade frictions between China and the United States

Wang yilin, party secretary and chairman of China national petroleum corporation (CNPC), presided over a symposium on handling china-us economic and trade frictions on the morning of May 29. Wang yilin stressed that it is necessary to focus on key areas and make great efforts in independent innovation, preventing the "neck jam" of key technologies and equipment, and preventing and controlling financial risks. In particular, we must not be constrained by others in independent innovation and key technologies and equipment. We need to focus on the long term, step up independent innovation, and accelerate the localization of domestic products.

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