Oil Shortage Looming

Asia and the U.S. will become increasingly embroiled in the volatile politics of the Middle East as oil production peaks in the next 10-15 years, leaving the world with as much demand, but less and less supply.

That is the assessment of the East-West Center, which labels the coming energy crisis as "a daunting challenge," according to the South China Morning Post.

The East-West Center is no left-wing conspiracy theory propagator. Established by Congress in 1960, the center's mission is to contribute "to a peaceful, prosperous, and just Asia Pacific community by serving as a vigorous hub for cooperative research, education, and dialog on critical issues of common concern to the Asia Pacific region and the United States."

Some facts stated in the Post report:

• Since 1900, more than half of the annual growth in global oil consumption has originated in the Asia-Pacific region.

• In 2004, China alone accounted for nearly one-third of the growth in world oil consumption.

• Half of China's oil imports, and a higher percentage of India's imports, come from the Middle East.

COMMENTS ()