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Online Stock Market Trading Propane-powered buses are among the measures Beijing is taking to curb use of gasoline and oil.

In the United Kingdom, nearly a third of its power generation depends on natural gas. In 15 years, the UK will be dependent on Russia for 90 percent of its imported gas. Japan is almost totally dependent on imported energy sources and is heavily invested in Iran's Azadegan oil field. China has major investments in Iran, importing 13.6 percent of its oil requirements from that nation and, overall, 45 percent of its oil imports from the Middle East. China is also investing in Canadian tar sands projects.

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While Wall Street's concern over foreign oil prices loom on the edge of winter's demands for heating oil, domestic companies are profiting.

Stock Market Game Sept 28, 2004 (AXcess News) Beijing - China, the world's second-largest consumer of oil after the United States, is ever more hungry for energy. Its economic boom is the driving force, as more of China's 1.3 billion people buy cars and home appliances for the first time. China's leaders, concerned by growing dependence on imported oil, are looking at ways to switch to alternative sources of energy.

As part of its efforts to help curb global warming and dependence on foreign oil imports, Japan is planning to adopt a new policy requiring all new cars to run on 10% ethanol and 90% gasoline by the year 2010. The country%š Environment Ministry is already studying the cost and implementation. Japan is one of the top contributors to air pollution. The country also imports almost all of its oil and is ardently looking for alternative fuel sources.

Stock Investing Game In the past decade, China has gone from being a net exporter of oil to a major importer. The government says oil imports have jumped by 37-percent in the past 12 months alone. This surge is happening despite a global rise in oil prices.

(AXcess News) day reserve of oil. China will spend 5 billion yuan (US$620 million; euro516 million) to build oil reserves in the southern province of Guangdong over the next five years, the government said Saturday. one third of China's annual oil imports. Last year, the province consumed 140 million barrels of oil, the report said.

Journal Prime Rate Street Wall People here, like everywhere else, are paying more to fuel their cars. But not even high prices at the pump are slowing China's automobile revolution.The twin-engine 777-200LR will be powered by the General Electric GE90-110B, based on the world's highest-thrust commercial jet engine.At a gasoline station in Beijing, Liu Hui, a businesswoman fueling her small sedan, complains that gasoline prices have gone up by about a third in recent months. Her solution? She bought herself a second car, a smaller model that uses less fuel. "It does not make that much difference for this car how high the prices go. My other car, an American-designed Jeep Cherokee sport utility vehicle, costs twice as much to fill up," she says.Advertisement

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Stock Market News Only a decade ago, most Chinese aspired to own a simple bicycle. But economic growth means that millions of people have traded their bikes for cars. Official figures show nearly 14,000 new motor vehicles hit China's roads each day.

Stock Investing Basics The need for imported oil to fuel those cars has prompted officials to seek alternative sources of energy, including gas derived from coal, hydroelectric generation, and nuclear power.

Stock Investing Software The biggest project is the massive Three Gorges Dam on the Yangtze River, designed to produce 84-billion kilowatts a year once it is completed in 2009.China is due to bring its 10th nuclear power reactor on line next year. As many as 27 more reactors may be needed if China is to meet its goal of producing four-percent of its total electricity from nuclear power by the year 2020.

Stock Market Trading The government has set another ambitious deadline: to generate 10-percent of its energy from renewable sources such as wind power or hydroelectric plants by 2010 . The commitment draws praise from environmentalists like Yu Jie at the Greenpeace office in Beijing. "The Chinese government is thinking about renewables much more than before. I think a lot of elements are getting together to push the Chinese government to go further and faster," he says.

Stock Investing For Dummy The government is eager to show off projects such as wind-energy farms, and officials often proudly display for journalists a new fleet of natural gas-powered buses that will go into service in Beijing before the 2008 Olympics.

Stock Market Crash But some analysts say the projects are, for now, only tokens in meeting electricity demand.

Stock Investing Tip There are signs the Chinese government is taking steps to curb dependence on imported oil. Reports say officials will very soon unveil a set of fuel economy standards on new vehicles, similar to those that many other nations already have.

Stock Market Chart But more drastic action is not likely anytime soon.Making a significant conversion to alternatives, such as renewable energy or hybrid vehicles that use a combination of petroleum-based fuels and electricity, will be neither fast nor cheap. Most alternative energy sources need massive investment to get started and more research to perfect.

Online Stock Investing Analysts say the government could, in theory, order car manufacturers to build hybrids. But they say that is unlikely at a time when Beijing is withdrawing business subsidies and shedding state-owned enterprises.Robert Ebel is an energy analyst at the Center for Strategic and International Studies in Washington. He says consumers in China, like anywhere else, are not likely to purchase hybrid cars if they are more expensive. "You have to give the consumer an incentive. What kind of incentive would he like? Usually it is a form of price. Some kind of incentive to conserve what he does consume," he says.

Stock Market Crash Of China's current economic good health also could slow significant innovations. Mao Yushi is an advisor to China's energy sector. He says that given the economic boom, China has no pressing reason to switch to other fuels as long as there is oil to buy.

Stock Investing For Beginner "China has sufficient foreign exchange to buy. For example, [if] we buy 100 million tons of oil, it may consume only less than 10 percent of the foreign exchange we earn every year. So, that is O.K. No problem," he says.

Finance Journal Personal Mr. Mao says it will take time, more research, or a shortage of oil before renewable energy sources, such as wind power, become economically feasible. He notes that wind power generation in China, as in many other places, is 50 percent more expensive than conventional power.In the meantime, China is doing what other oil importing nations are doing: trying to find new, secure sources of fuel.

Stock Market Report Beijing is lobbying Russia to build a pipeline carrying oil from Siberia to China. And it is working with its Asian neighbors to find natural gas.

Finance Investing Stock Market As China continues to develop, its energy policy is starting to resemble the programs of industrialized nations, including the United States and Europe, which are also struggling to ease their dependence on imported oil.

Wall Street Journal Com Source: Voice of America

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