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Energy production increases rapidly and supply remains tight
By Deng Yusong
Date: 2004/08/14
Abstract:
In the first half of this year, energy production and demand continue to grow rapidly. Energy prices rise by a big margin. The sharp contradiction in energy supply remains on power shortage. Insufficient transportation capacity makes the problem of rising coal prices even worse. Macro-control has rendered positive impacts on the energy market. In the near future, energy supply will grow rapidly. There are already initial signs in the downturn of growth rate in demand. The latter half of the year will see a possible balance of coal supply and demand. Prices will tend to stabilize at a high level. In the third quarter, power shortage will get even worse, but the fourth quarter will see some improvements. The latter half of the year will see a general balance in oil supply and demand. Oil prices might fluctuate by a substantial margin. It is suggested that prevalent macro-control policies be maintained and oil supply and demand be put under good management; a rational energy price mechanism be established; some proactive measures be taken to respond to international oil price fluctuations; and the transportations issues be solved quickly.
