| Srl | Item |
| 1 |
ID:
075796
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| 2 |
ID:
095579
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| 3 |
ID:
064688
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| 4 |
ID:
130867
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| Publication |
2014.
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| Summary/Abstract |
Ensuring access to foreign oil has lost its dominance in Beijing's energy-policy debates. Ensuring access to ever larger quantities of foreign oil has been a focus of debate in China since the late 1990s, when the country's growing oil-import dependence became an inescapable reality. Research institutes and advisers to the Chinese leadership had been preoccupied with identifying the risks associated with China's foreign-oil supplies and devising policies to mitigate them. Yet, as the debate unfolded, it became clear that securing oil supplies was only part of the problem. The overall balance of energy supply and demand, the impact of state-controlled pricing and administrative intervention on the domestic market, and the weakness of institutions governing the energy industry came to be seen as problems that were equally, if not more, pressing. Between 2000 and 2004, a series of events highlighted various aspects of China's energy insecurity and, combined with a change of leadership in Beijing, ultimately led to a shift in energy-policy choices.
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| 5 |
ID:
164131
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| 6 |
ID:
132640
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| Publication |
2014.
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| Summary/Abstract |
There has been much attention paid to oil security in China in recent years. Although China has begun to establish its own strategic petroleum reserve (SPR) to prevent potential losses caused by oil supply interruptions, the system aiming to ensure China×s oil security is still incomplete. This paper describes and provides evidence for the benefits of an auxiliary strategic oil policy choice, which aims to strengthen China×s oil supply security and offer a solution for strategic oil operations with different holding costs. In this paper, we develop a multi-dimension stochastic dynamic programming model to analyze the oil stockpile delegation policy, which is an intermediate policy between public and private oil stockpiles and is appropriate for the Chinese immature private oil stockpile sector. The model examines the effects of the oil stockpile delegation policy in the context of several distinct situations, including normal world oil market conditions, slight oil supply interruption, and serious oil supply interruption. Operating strategies that respond to different oil supply situations for both the SPR and the delegated oil stockpile were obtained. Different time horizons, interruption times and holding costs of delegated oil stockpiles were examined. The construction process of China×s SPR was also taken into account.
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