CHINA: FUEL DEMAND
Since the 1990s, China has experienced tremendous growth in its transportation sector. By the end of 2010, China's road infrastructure had emerged as the second-largest transportation system in the world after the United States. Passenger vehicle sales are dramatically increasing from a little more than half a million in 2000, to 3.7 million in 2005, to 13.8 million in 2010.1 This represents a twenty-fold increase from 2000 to 2010. The unprecedented motorization development in China led to a significant increase in oil demand, which requires China to import progressively more petroleum from other countries, with its share of petroleum imports exceeding 50% of total petroleum demand since 2009.2Â In response to growing oil import dependency,…
Log in to read the publication.
An authorized user gets access to four FREE publications per month.
You can also buy a full access to all publications of the site since January 2014.