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The energy crisis has caught up with our lives

In the past week, a reporter traveled through several southern provinces and personally witnessed the "oil shortage" crisis. In Hubei and Hunan, all the gas stations visited by the reporter were either experiencing fuel shortages or had strict limits on how much fuel could be purchased. What used to be rare occurrences—such as station closures or limited refueling—are now common sights in both provinces. During a journey of over 600 kilometers through Zhangjiajie and Yichang in Hubei, many gas stations were found to have limited diesel supplies. Some imposed a cap of just 10 liters per customer, while others required a minimum payment of 200 yuan. Several stations even displayed "No Diesel" signs. On November 19th at 8 a.m., the bus the reporter was on had to pull into a gas station at the Hubei-Hunan border due to a lack of fuel. The driver shouted from the car: “What are you doing here? My car is out of oil, and you’re making me do this!” After waiting for ten minutes, he managed to add only 5 liters of fuel. The energy crisis has struck quickly and directly impacted daily life. From Hubei to Hunan, broken-down cars and frustrated drivers are everywhere. Along the Beijing-Zhuhai Expressway in Hunan, gas stations are surrounded by vehicles of all sizes. Long lines of cars waiting to refuel stretch for thousands of meters. A truck driver from Jilin said that since entering Henan, he couldn't find any gas along the way, and there was no supply in Hunan. He drove through 11 gas stations over six hours before finally filling up with 200 liters of diesel. On main roads with gas stations, queues for fuel occupied one lane, forcing other vehicles to use only one lane. Local police had to be deployed to maintain order at the scene. In response to the oil shortage and rising prices, Premier Wen Jiabao, who was visiting Singapore, stated on the 21st that authorities are working to resolve the tight supply of refined oil, which can be addressed in the short term. He explained that the issue stems from both supply-demand imbalances and price factors. Relevant departments are taking action, including opening multiple channels to secure crude oil supplies, especially diesel. They are also encouraging existing refineries to increase their processing capacity. Wen Jiabao noted that China's oil refineries originally had sufficient capacity, but many were not operating at full speed due to pricing issues. He believes the shortage can be resolved soon. Normally, companies are profit-driven economic entities created by investors. However, state-owned enterprises (SOEs) are allowed to exist because they are expected to serve public interests when necessary, even if it means sacrificing some profits. For example, they may provide essential goods at low prices or avoid raising prices during crises. PetroChina and Sinopec, two major SOEs, control nearly every aspect of the oil industry, from exploration to refining and sales. If international oil prices fluctuate, these companies might lose some monopoly profits, but this can be offset by high profits from upstream operations. Given their monopoly status, they should bear certain responsibilities, such as ensuring domestic fuel supply during crises and stabilizing the market instead of solely chasing profits. Otherwise, what's the difference between them and private companies? Why does the state need to run such monopolies? As the reporter observed the chaos caused by the oil shortage, it became clear that the situation was far more severe than anticipated.

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