The Asian energy predicament

Asia already imports some 60% of its oil from the Middle East. Increasing A sian dependence on this volatile region is a growing concern for Asian gove rnments that have hitherto viewed energy largely in strategic terms, that i s, as one of the 'commanding heights' of the economy and a matter of fundam ental national security. If this geostategic mindset persists, Asia's thirs t for oil could increase the likelihood of conflict over territory. Yet suc h a prophecy, though perhaps self-fulfilling, is hardly certain. Market for ces have increasingly proven essential to resolving energy questions by spu rring conservation, energy efficiency and the development of new oil and al ternative fuel sources.