Water Week

EWN Publishing

Aus Govt energy fear: China locking-up resources by long-term contracts, bypassing market

Posted by waterweek on 20 September 2007

The Australian Government was concerned that the shortfalls in supply of oil and other energy resources may prompt countries like China to lock up access to supplies through long-term contracts, reported The Sydney Morning Herald (3/9/2007, p.2). Bypassing market: The concern was that this would spark a new kind of mercantilism where big energy producers and consumers bypassed the markets to cut their own deals, with adverse consequences for economic efficiency. Australia would be pushing for the endorsement of a market-based solution for energy security.

The Sydney Morning Herald, 3/9/2007, p. 2

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