China eyes increased energy co-op with US
(Reuters)
Updated: 2005-12-30 19:19

China and the United States should increase co-operation on energy issues ranging from crude oil production overseas to civilian nuclear programs, China's top economic planning body said in a statement on its Web site.

Cars line up at a gas station in south China's Guangdong province, August 17, 2005. China and the United States should increase co-operation on energy issues ranging from crude oil production overseas to civilian nuclear programs, China's top economic planning body said in a statement on its Web site. [newsphoto]

Co-operation should be deeper and more efficient, with priority placed on promoting stability in producing nations and secure oil shipping lanes, the National Development and Reform Commission said.

The world economy would benefit if China has secure energy supplies, but U.S. concerns about the rise of China's fast-growing economy could lead to restrictive legislation, the commission added.

"Geopolitics may lead to wider restrictions in terms of the relevant American policies, because a stronger China is considered a challenge to the United States," the statement said.

Earlier this year, a political furor in the United States scuttled an $18.5 billion bid by China's top offshore producer CNOOC Ltd. for America's Unocal Corp. and the fallout raised concerns in China about U.S. investment policies.