Global Energy Forum
May 21 - 23 :: Beijing, China
The Asian demand for energy especially oil and gas has been responsible for the escalating prices on energy prices.
China and India has been the main factor behind the upward pressure on energy security.
Energy firms in Asia have also extended their search for energy onto the international energy stage, generating the widespread perception of much fiercer global competition among the private and state-run oil and gas firms for energy resources.
The dependence of Asia on the Middle East raises a number of important issues.
First, these developments imply increasing economic exposure to the volatility of world energy prices. Secondly, the possibility that Asia will face growing competition with Europe and North America for the energy resources primarily of the Middle East, Russia and the formers USSR states, Africa and Latin America.
Finally, the need of energy may disrupt overall harmony in the region, as each country will be forging its interest on the scarce energy resources.
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Posted by Richard Price, Editor, EnergyME.com
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