Word: demandingly
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...plans to build about two reactors per year for the next 16 years, at a cost of up to $2 billion per reactor. By 2020, China's energy mandarins estimate that there will be enough nuclear power capacity to generate 36,000 megawatts?sufficient to meet peak summer electricity demand for New York...
...AUTO INNOVATIONS: By 2010, gasoline and diesel for cars, trucks and buses are expected to account for nearly half of the country's oil demand. China is beginning to respond. Last month, Beijing approved its first fuel-efficiency standards for passenger vehicles, which will begin to take effect in 2005 and will be more stringent than those in the U.S. Last month Toyota announced plans to manufacture the Prius, its hybrid gasoline-electric car, in China, where it hopes the clean vehicle will find a significant market. Beijing's government, meanwhile, is working to develop electric cars before...
...become. Motorists bemoaning high prices at the pumps?oil rose to a record $55 a barrel on Oct. 15, up 65% this year?can with some justification point an accusatory finger toward the mainland. Its booming economy and burgeoning appetite for cars and other modern conveniences have caused energy demand to soar. China's oil imports doubled over the past five years and surged nearly 40% in the first half of 2004 alone. These increases vaulted the mainland ahead of Japan and into second place among the world's biggest oil consumers, behind only...
...accurate to blame China for most of the rise in oil prices," says Jeffrey Logan of the Paris-based International Energy Agency (IEA). But with oil in short supply?currently, producers are pumping just 1 million barrels more than the 81 million barrels being consumed worldwide every day?growing demand from China is clearly having an unwelcome impact. The country accounted for about one-third of the increase in world oil consumption this year, more than any other single nation...
...While many of the factors that have caused the oil-price spike appear to be fleeting, there may be no respite from Chinese demand for the foreseeable future. The country's industrial base is gobbling up vast amounts of petrochemicals to make everything from fertilizer to Barbie dolls. The number of cars on mainland roads?about 20 million?is expected to increase by 2.5 million this year alone. Even if China's blazing GDP growth of 9.4% this year moderates to 8% in 2005, as the Chinese Academy of Social Sciences predicts, the country is now a permanent major player...