For many years, china has remained a leading civilization, ahead of the rest of the world in the arts and sciences. According to the recently released statistical review of world energy by oil company BP, china is way ahead of United States in consumption of energy. According to the report, china moved to the top position in the year 2010 with 20.3 percent of global demand. This is 1.3 percent above the United States. This testifies the fact that China is the energy superpower as per today’s statistics.
According to the report, china’s energy consumption went up by 11.2 percent last year surpassing United States whose growth was only by 3.7 percent. The report further stated that china’s surge was top with a 5.6 percent increase in global energy demand. This is the biggest single year jump since1973. No doubt china is the greatest next energy super power.
Having in mind that the Chinese economy still is about half the size of the United States’, one can only imaging the rise that will record when china succeeds in its set goal of moving from the export-led society to a consumer led. Several factors will help china realize these set goals. One of these factors being its aggression towards directing its power into nautical regions like the Indian Ocean and South China Sea.
The other factor will be china’s willingness to work with different nations in the region like Norway in developing the arctic strategy. The arctic holds 25 percent of the world’s oil and 9 percent of the world’s coal. This will go a long way in supplying china with its energy for its emerging industries.
The other factor will be the increasing relationship between china and African countries. These countries have plenty of natural resources. These resources remain unexploited due to lack of mining technology which china will offer. This will boast china's unutilized energy bank.
China, is undoubted actor in today's global economy, with its technological capability to access Arctic hydrocarbons through foreign investments, according to Michael Byers report, joint ventures and international markets, the future is very promising for this emerging energy superpower.