vineri, 12 iunie 2009

The (new) centre of gravity of the global energy markets

The centre of gravity of the global energy markets has tilted sharply and irreversibly towards the emerging nations of the world, especially China.

This is not a temporary phenomenon but one that I believe will only increase still more over time.

Overall primary energy consumption nudged up just 1.4 per cent, the smallest rise since 2001. China alone accounted for almost three quarters of the rise,

Coal: For the sixth consecutive year coal remained the fastest growing fuel globally, even though its 3.1 per cent growth in consumption was below the 10-year trend. China, which accounts for fully 43 per cent of global coal demand, accounted for 85 per cent of this growth, with an increase of 6.8 per cent.

Hydroelectric output continued its recent strong performance with growth of 2.8 per cent, above the 10 year average for the fourth time in the past five years. However, again, all of the global increase could be accounted for by growth in China - climbing by 20.3 per cent, nearly twice the country's 10-year average rate.

De aici.

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