The U.S. and China are the two most important oil producers in the world, and the Obama administration is determined to make sure that both countries have a significant role in the oil industry and global supply chains, Vice President Joe Biden said Friday.
China is one of the world’s top oil producers, and its economic importance will be greatly diminished if America leaves the Paris Agreement, Biden said during a press conference in China.
“China is the largest economy in the Asia Pacific region, and our relationship with China is the strongest in the history of our nation,” Biden said.
“If we leave the Paris agreement, we will be on the road to China becoming the world leader in the production of oil and gas.”
China and the U.K. are not part of the Paris Climate Accord, which was signed in December and aims to reduce greenhouse gas emissions by 2020 and to phase out fossil fuel use by 2025.
The U.N. climate chief said he wants to see a global agreement in Paris in December that could result in the U,S.
moving to phase-out fossil fuel subsidies, but he also said he would like to see China and other countries join.
“I am not going to take sides in the Paris negotiations, but I am convinced that China and India and other nations in the region will want to be part of a solution,” Biden added.
“If you look at the energy that’s being generated and how quickly it’s going, I’m not sure that you can ever say that we’re not going be able to do it.”
The U.-China deal is the centerpiece of Biden’s pivot to Asia.
It is a key part of President Donald Trump’s efforts to modernize his global strategy, which is focused on promoting American manufacturing, economic growth and the American middle class.
Biden is also pressing for a deal on trade, saying he believes the U-S.
should have more trade deals with other countries.
He said he supports the Trans-Pacific Partnership (TPP) trade agreement that would have included countries such as Japan and South Korea.
He said he also supports the North American Free Trade Agreement (NAFTA), a trade deal that has been largely criticized by environmental groups.
China has a large trade surplus with the U., and it has been seeking to gain a greater share of that trade.
The Obama administration, however, has said that it will not be able, under the Paris accord, to make any significant changes to its trade policies, and it will be reviewing the deal, including its provisions for greenhouse gas reductions, under President-elect Donald Trump.