The rapid growth of China's economy needs plenty of oil resources. Because of the domestic oil production shortage, China has become more and more dependent on the foreign oil import. The analysis shows the world's oil production will come into "Peak Plateau" between 2006 and 2016, indicating that the world's remaining oil export capacity will decrease continuously after the peak of 2.752 billion tons. In this case, China should take tough measures to reduce oil demand and exert great efforts to develop alternative energy to fight against the shortage of oil import.
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Univ Hawaii Manoa, Dept Econ, Honolulu, HI 96822 USA
Yokohama Natl Univ, Yokohama, Kanagawa, JapanUniv Hawaii Manoa, Dept Econ, Honolulu, HI 96822 USA
Gangnes, Byron S.
Ma, Alyson C.
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Univ San Diego, Sch Business Adm, Econ, San Diego, CA 92110 USAUniv Hawaii Manoa, Dept Econ, Honolulu, HI 96822 USA
Ma, Alyson C.
Van Assche, Ari
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HEC Montreal, Dept Int Business, Montreal, PQ, Canada
Katholieke Univ Leuven, LICOS Ctr Inst & Econ Performance, Leuven, BelgiumUniv Hawaii Manoa, Dept Econ, Honolulu, HI 96822 USA