China has become the largest consumer of energy worldwide, thus advancing to the U.S., as announced by the executive director of the International Energy Agency (IEA) Nobuo Tanaka.
In fact, half the growth in oil demand comes from this country. "No one can predict when it will start to fall (in Chinese demand)" adds the director of the agency.
Energy sources accounted for the agency, founded during the oil crisis of 1973, are crude (33.2% of the total in 2008), coal (27%), nuclear (5.8%), gas ( 21.1%), renewables (10%) and hydroelectric (2.2%).
China has become the largest consumer of energy worldwide
The IEA advises 28 developed countries to potential oil supply problems. China is not among them, but the agency handles its rising consumption, the potential impact of oil prices in their economic expansion.
China overtook Japan as second largest economy in the second quarter, when gross domestic product (GDP) totaled 1.288 trillion Japan compared with $ 1.33 billion dollars from China. However, the Japanese economy grew 0.4% yoy compared to 10.3% Chinese.
Example of the expansion of the Asian giant was the spectacular jam thousands of drivers who suffered for 13 days in which the movement of vehicles was stopped at a hundred miles.
China consumer energy
Moreover, Iraq can become a piece that changes the game, "said Tanaka. The upward revision of its reserves by 25% could have a positive impact on oil supply, the agency said. "We need Iraqi oil," he added.
The agency has also stressed that half the supplies of oil could be extracted from sea from 2015. This source currently supplies a third of global distribution, will grow "rapidly in the coming years," said Tanaka and the China consumer energy.
However, he acknowledges that tragedies such as British Petroleum spill into the pit of Macondo, in the Gulf of Mexico could cause regulatory changes that delay mining projects at sea.
Energy sources accounted for the agency, founded during the oil crisis of 1973, are crude (33.2% of the total in 2008), coal (27%), nuclear (5.8%), gas ( 21.1%), renewables (10%) and hydroelectric (2.2%).
China has become the largest consumer of energy worldwide
The IEA advises 28 developed countries to potential oil supply problems. China is not among them, but the agency handles its rising consumption, the potential impact of oil prices in their economic expansion.
China overtook Japan as second largest economy in the second quarter, when gross domestic product (GDP) totaled 1.288 trillion Japan compared with $ 1.33 billion dollars from China. However, the Japanese economy grew 0.4% yoy compared to 10.3% Chinese.
Example of the expansion of the Asian giant was the spectacular jam thousands of drivers who suffered for 13 days in which the movement of vehicles was stopped at a hundred miles.
China consumer energy
Moreover, Iraq can become a piece that changes the game, "said Tanaka. The upward revision of its reserves by 25% could have a positive impact on oil supply, the agency said. "We need Iraqi oil," he added.
However, he acknowledges that tragedies such as British Petroleum spill into the pit of Macondo, in the Gulf of Mexico could cause regulatory changes that delay mining projects at sea.
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