China has developed sophisticated hedging strategies to insure against risks in the international petroleum market. It has managed a growing net oil import gap and supply disruptions by maintaining a favorable energy mix, pursuing overseas equity oil production, building a state-owned tanker fleet and strategic petroleum reserve, establishing cross-border pipelines, and diversifying its energy resources and routes.

Though it cannot be "secured," China's energy security can be "insured" by marrying government concern with commercial initiatives. This book comprehensively analyzes China's...