China is the fastest growing economy in the world. It has the fastest growing
middle class. It is also one of the fastest growing fuel consumers. But that is
the logical conclusion of the second proposition of the syllogism.
Fuel consumption, however, doesn't seem to be a decision relying on the
sovereignty of a country. There is the question of depleting the ozone layer,
harming the environment and violating principles of sustainable development.
Sustainable development must come first.
The Commission on Sustainable Development (CSD-14) met earlier this month at
United Nations headquarters for its 14th session. CSD-14 was to the review the
"progress in energy for sustainable development, industrial development, air
pollution/atmosphere and climate change, together with cross-cutting issues."
As expected, the energy agenda dominated CSD-14, with discussions focused on
"energy security, the impact of oil and gas prices and the respective roles of
renewable energy technologies and fossil fuels."
Needless to say, all these issues will dominate the world's energy mix in the
future. The review session's non-negotiating format helped disguise simmering
tensions over the future of fossil fuels, nuclear power and the climate regime
after 2012. But the Chair's Summary, China and the Group of 77 countries
charged, sidelined these countries' agenda, including the Millennium Development
Goals and means of implementation.
China and the Group of 77 countries said the Chair's Summary would jeopardize
multilateralism by turning the agenda over to "corporations and privatization."
And it comes back to fuel consumption. The West loves to say it aloud every
time it gets a chance (and even when it doesn't get one) that China's rising
consumption has been fuelling the oil prices. We are ready to forget that China
is not the largest, or even the second-largest, consumer or importer of oil.
But it's not possible to ignore what Qatar Oil Minister Abdullah Al Attiyah
said just days ago. Speaking in Amman, Jordan, he said oil prices would remain
volatile in the short- and medium-term because of political tensions, rather
than supply and demand affecting its current levels.
Oil prices are pressured more by politics than by supply and demand. And then
there's the bombshell: "Supply is now greater than demand and there is not less
than 1.5 million barrels of excess supply, but oil prices are unfortunately not
influenced, as in the past, by supply and demand," said Al Attiyah.
Add this to the role of "corporations and privatization," and no wonder crude
oil has surpassed US$70 a barrel.
Less than two years ago, the world seemed to have been hit by an atomic bomb
when the crude price hit US$50 a barrel; it seemed the world was coming to an
end. But the global economy is still alive and kicking. In fact, it's healthier
than ever before, despite crude oil selling at 50 per cent higher than its
two-year-ago price.
So where does this leave China? Is China still fuelling rising oil prices?
Or, is the supposed threat a ploy to deprive it of its share of energy to
sustain its economic growth?
The Middle East and Russia are supposed to be the richest oil reserves that
will outlast those in the rest of the world. And since China gets most of its
oil imports from the Middle East, the West sees it as depleting the reserves,
for which only they, as the developed world, have a right to.
But that doesn't mean we throw caution into the wind and embark on a mad
fuel-burning journey. As a responsible nation, China's goal should be
sustainable development, and we have already taken strides in that direction.
But the important task is to maintain that progress towards sustainable
development, irrespective of the din created by the West.
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