Energy
High Oil Prices Speed Up China’s Shift Away From Crude
China’s oil consumption fell 9% year over year in the second quarter as expensive crude accelerated the use of electric cars, trucks, rail and industrial equipment.
AI Summary
China’s oil consumption dropped 9% year over year in the second quarter, a decline driven by high crude prices that pushed the country toward electric vehicles, rail, trucks, and industrial equipment. The shift helped cut China’s carbon dioxide emissions by 1% during the same period, according to an analysis by the Centre for Research on Energy and Clean Air.
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