2GDP vs Energy Growth

2GDP vs Energy Growth - G DP vs Energy Growth The Chinese...

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GDP vs Energy Growth The Chinese economy has been growing at an outstanding rate for a long time. Even the recent economic and financial crisis did not affect the growth trend. The major factor of strong economic growth is associated with strong exports and strong domestic demand. By 2035 global oil demand is expected to increase to 110 million barrels per day. More than 80 percent of this increase is expected to be consumed in non-OECD and the Middle East. China is expected to consume an additional 9.4 MMBD alone. More than 80 percent of this increase is expected to be consumed in the transport sector. That is, one could expect significant growth in ownership of cars in China during the five year plan and beyond. Chinese demand for petroleum products has increased significantly during the past few years due to a substantial increase in the ownership of cars, which was supported by the availability of easy credit. Given the size of the Chinese population and rapid economic growth, it is
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This note was uploaded on 06/03/2011 for the course ECON 201 taught by Professor Jeanmichele during the Spring '11 term at Portland State.

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2GDP vs Energy Growth - G DP vs Energy Growth The Chinese...

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