The much anticipated BP Statistical Energy Review was presented in Brussels a week before the Emission Trading System votes in the EU Parliament. Global energy markets are heavily affected by a “massive shift” in the composition of global economic growth, according to Cristof Rühl BP’s chief economist. Non-OECD (Organisation for Economic Cooperation and Development) countries like China and India accounted for nearly 50% of growth and for nearly 90% of energy demand growth in 2007. China alone was responsible for 40% of that demand, much of it met by coal, Rühl said. The report can be downloaded at http://www.bp.com
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