China Shoots for 25% Biofuels by 2020
25 January 2007
Xinhua. The Chinese government plans to use liquid biofuels produced in rural areas to cut the country’s consumption of petroleum products by 10 million tons, or more than 25%, by 2020.
China is the world’s third largest oil importer after the United State and Japan, and imported a record-high 36.38 million tons (about 267 million barrels) of refined oil products last year, 15.7% up on 2005, to fuel an estimated annual economic growth of 10.7% percent.
In his State of the Union Address this week, US President George Bush unveiled his Twenty in Ten goal—a reduction in gasoline consumption of 20% in 10 years through the use of biofuels (15%) and increased fuel efficiency (5%). (Earlier post.)
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