To Have and Have Not: Energy security vs energy independence in a world awash in cheap oil

So here’s a structural slide for energy intensity. And we see that China has made tremendous strides on energy intensity, and that’s good for them and good to see. But we can see also that Asia’s oil imports are rising. Their economy is growing faster than deployment of more efficient energy technologies. That’s the dilemma. The world is getting more dependent on imported energy because the economies are growing.

The growth in Asia is so profound that we have to think about what that means for us, and for energy security as opposed to energy independence.