EIA data shows China’s oil demand going up faster than expected (while CO2 levels do the same!)

In the US, China’s petroleum fuel demands will drag up global demand even more than previously thought, according to recent EIA data. “The fastest economic growth is projected for the non-OECD  region, with GDP increasing by an average of 4.6% per year from 2010 to 2040,” the report said. “In contrast, GDP in the OECD region rises by only 2.1% per year over the same period.”

Linda Doman, lead analyst on the report, said that the EIA has dialed back its growth projections for plant-based fuels because of the chilling policy atmosphere. Production will rise from 1.3 million to 3 million barrels per day, but that will still represent just 2.5 percent of all liquid fuels. Meanwhile, coal-to-liquid and gas-to-liquid fuels will grow at a much faster rate, increasing from a mere 0.3 million barrels per day in 2010 to 1.4 million in 2040.
National Geographic reported on the new data, noting that the World Meteorological Organization announced on the same day that the EIA report was published that “CO2 levels increased more between 2012 and 2013 than during any other years since 1984.”
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