在全球經(jīng)濟低迷時期，有一個產(chǎn)業(yè)正在迅速擴張：這就是中國的國有能源公司。在最近幾個月里，這些公司在俄羅斯、巴西和伊拉克等地進行了多項價值數(shù)十億美元的大型石油交易。其中教訓，值得華盛頓那些認為保護主義無須付出代價的決策者深思。
In the midst of the global economic downturn, there's one industry that's expanding rapidly: China's state-owned energy companies. Over the past few months, these companies have launched major multibillion-dollar oil deals from Russia to Brazil to Iraq. There's a good lesson here for policy makers in Washington who think protectionism is costless.

中國一直急于獲得長期可靠的石油供應。中國是僅次于美國的全球第二大石油消費國和進口國。但中國的人均石油消費量只是美國的十三分之一，換言之，還有很大的增長空間。作為世界上最大的石油消費國，中國和美國都會從清潔能源和可再生能源、清潔煤炭和能效方面的合作受益頗多。
China is eager to secure a reliable and long-term supply of oil. The country is the second-largest oil consumer and importer in the world, next only to the United States. But China's per capita oil consumption is only one-thirteenth of the U.S. -- in other words, there's a lot of room to grow. As the world's largest oil consumers, China and America have much to gain from cooperation in new and renewable energy, clean coal and energy efficiency.

鑒于油價從去年7月以來已經(jīng)下跌了每桶100多美元，這種觀點就更有道理了。兩個國家的能源領域都面臨收入下降和上游勘探開發(fā)成本上升的困境。存在的危險是，能源投資將會減少，而當全球經(jīng)濟最終走出目前的經(jīng)濟和金融危機時，對石油的需求可能遠遠超過供應，從而導致油價飆升。中國和美國因此可能會因要以高得多的價格進口石油而受到打擊。
This is especially true today, given the oil price has dropped by more than $100 a barrel since last July. Both countries' energy sectors face declining revenues and the high costs of upstream exploration and production. The danger is that energy investments will dwindle, and when the global economy eventually climbs out of the current economic and financial crisis, demand for oil may far exceed supply, resulting in huge price hikes. China and America could thus potentially be hit with much higher costs for imported oil.

讓人們看到希望的是，迄今為止中國增加了在全球各地的上游石油勘探開發(fā)的投資，這可能會在今后幾年里填補這個巨大的真空。只要中國向公開市場出售從中生產(chǎn)的大部分石油，而不是裝船運回國內，這樣的投資就應該因其長期積極的穩(wěn)定作用而受到歡迎和鼓勵。
The hope is that China's increased investments in upstream oil exploration and development in different parts of the world to date -- and over the coming few years -- may make up for this significant vacuum. So long as China sells a significant amount of oil thus produced to the open market, rather than locking it up for shipment back to China, such investment should be welcomed and encouraged for its positive stabilizing effect over the long run.

美國政府有必要歡迎這些投資流入。自美國國會2005年否決了中海油對加州聯(lián)合石油公司(Unocal)的競購以來，就基本沒有中國能源公司進入美國市場了。在某種程度上由于這一原因，中國的能源公司此后就在世界其它地區(qū)更加迅速地擴張。在提出收購加州聯(lián)合石油公司前，中海油在非洲基本沒有任何投資。但在美國筑起了保護主義的壁壘后，中海油開始大規(guī)模地進入非洲。

Washington needs to embrace these investment flows. Since Congress opposed Cnooc's bid for Unocal in 2005, few, if any, Chinese energy companies have ventured into the U.S. market. Partly as a result, Chinese energy companies have since been expanding more rapidly in other parts of the world. Prior to the proposed Cnooc-Unocal deal, Cnooc hardly had any investments in Africa. Once America erected protectionist walls, Cnooc began its grand engagement with Africa.

最終成功收購了加州聯(lián)合石油公司的雪佛龍(Chevron)并未能實現(xiàn)中海油可能達到的目標。雪佛龍仍只是坐擁從加州聯(lián)合石油公司那里獲得的大量天然氣儲備（大多位于東南亞），而且在今后數(shù)年里可能仍會把它們作為閑置資產(chǎn)，或是向中國求助，因為中國仍是出售此類產(chǎn)品的最合理最自然而然的市場。從中得到的痛苦教訓就是，盡管石油的替代性強，但天然氣賣家需要將目標對準有意愿、有準備也能夠向客戶付款的客戶，同時也要能在今后幾十年里帶來穩(wěn)定的，可預測的收入。
Chevron, which ultimately won the bid for Unocal, hasn't been able to match what Cnooc would have achieved. The San Ramon, Calif.-based company is still sitting on large natural gas reserves inherited from Unocal, mostly in Southeast Asia, and may either have to treat them as idle assets for years to come, or have to knock on Chinese doors anyway, since the Chinese market remains the most logical and natural market in which to sell such a product. The bitter lesson here is that while oil is fungible, natural gas sellers need to aim at markets that have willing, ready and paying customers -- and offer the prospect of stable, predictable revenues for decades to come.

中美兩國應該具有走出加州聯(lián)合石油公司交易失敗和上周中國拒絕可口可樂以24億美元收購匯源果汁陰影的勇氣和遠見。奧巴馬政府已經(jīng)為兩國關系注入了新鮮空氣，能源合作無疑應是重新引起重視的一個領域。中國作為一個堅定、可靠和負責任的利益相關者發(fā)展與美國的關系。合作，而不是對抗會讓我們雙方受益。
China and the U.S. should have the courage and vision to go beyond the failed Unocal deal and China's rejection last week of the proposed $2.4 billion Coca-Cola-Huiyuan merger. The Obama administration has introduced fresh air into the two countries' bilateral relations, and energy cooperation should certainly be an area of renewed focus. China conducts its relations with the U.S. as a steadfast, reliable and responsible stakeholder. We can both benefit from cooperation, not confrontation.

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