Rising Energy Competition and Energy Security in Northeast Asia: Issues for U.S. Policy
Abstract
Asia has become a principal driver in world energy markets, largely due to China's remarkable growth in demand. As the gap between consumption and production levels in Asia expands, the region's economic powers appear to be increasingly anxious about their energy security, concerned that tight supplies and consequent high prices may constrain economic growth. Rising energy competition in East Asia promises to affect U.S. policy in many ways, from contributing to price spikes because of China's rapidly increasing demand to altering the geostrategic landscape in the years to come as regional powers struggle to secure access to energy supplies. This report analyzes how China, Japan, and South Korea's pursuits to bolster their energy security impacts U.S. interests. It also examines decisions being made by Asian states now that will significantly shape global affairs in the future, how these decisions might play out, and how Congress and the executive branch might play a role in those decisions. China, Japan, and South Korea have been moving aggressively to shore up partnerships with existing suppliers and pursue new energy investments overseas, often downplaying doubts about the technical feasibility and economic profitability of new development. Their outreach to suppliers includes the development of close ties with Iran, a key concern to U.S. policymakers given skepticism about Tehran's nuclear program. This report outlines the energy portfolios and strategies of the three countries, including their pursuit of alternatives to petroleum.
Document Details
- Document Type
- Technical Report
- Publication Date
- May 13, 2008
- Accession Number
- ADA483943
Entities
People
- Emma Chanlett-Avery
Organizations
- Library of Congress