China possesses abundant shale oil reserves, but why hasn't it followed the footsteps of the United States?
Shale oil is widely distributed globally, especially in North America and the Asia-Pacific region, and China is no exception, with substantial reserves of shale oil.
According to exploration data, China's shale oil is mainly located in several basins including the Sichuan Basin, the Hanjiang Basin, and the Ordos Basin, with a total reserve of up to 4.393 billion tons, ranking third globally, only behind the United States and Russia.
Despite having vast shale oil resources, why hasn't China replicated the extraction path of the United States to stabilize domestic oil prices?
The reasons lie in the differences in national conditions.
As early as 2003, when China realized the initial success of shale oil extraction in the United States, it began preliminary analysis and exploration of the domestic shale oil potential.
However, China found itself facing numerous challenges.
Firstly, the shale oil in China is buried deeper compared to the United States, requiring higher-cost underground pipelines and extraction equipment.
Additionally, shale oil extraction technology differs significantly from conventional oil, requiring more advanced drilling and fracturing techniques.
Although the United States has decades of technological accumulation, China started shale oil extraction technology relatively late and has yet to overcome technical difficulties.
Therefore, despite abundant resources, China still relies on imported oil.
Currently, 70% of China's oil is imported, making it a net oil importer, with domestic oil prices greatly affected by fluctuations in the international market.
Therefore, until the technology matures, oil imports remain the primary means.
China's pursuit of sustainable development is the ultimate goal.
Although shale oil extraction technology is not yet mature, China continues to explore.
Currently, as the production of shale oil in the United States continues to increase, with 70% of China's oil consumption coming from the international market, accelerating domestic extraction is crucial.
However, China will not blindly extract but adhere to the principle of sustainable development, gradually exploring alternative paths for new energy.
China has made significant achievements in new energy such as solar energy, wind energy, and hydropower and will continue to promote the development of new energy technologies, moving towards a green and sustainable development path.
From a global perspective, energy issues have become important constraints on global development.
In this context, China will optimize its energy structure, strengthen energy conservation, promote the market-oriented reform of the energy sector, and ultimately achieve a green and sustainable energy development pattern.
To achieve this goal, China not only needs to accelerate technological innovation and extraction progress but also strengthen international cooperation to jointly address energy challenges.
China's development in the energy field is not only related to domestic economic and social stability but also of significant importance to global energy security and environmental protection.
Therefore, China is actively promoting energy transformation, committed to building a clean, efficient, and sustainable energy system, making greater contributions to achieving sustainable economic and social development.
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