BP: China now world's largest consumer of energy

A report by BP (BP.NYSE) claims that China overtook the US as the world’s largest consumer of energy in 2010, the Financial Times reported. The BP statistical review of world energy shows that China accounted for 20.3% of total energy consumption, compared to the US, which consumed 19%. Global consumption of energy grew 5.6% last year; both mature and developing economies posting higher-than-average growth as the economic recovery took hold. Carbon dioxide emissions grew at their fastest rate since 1969. Energy consumption also outgrew economic growth, implying that economic activity has grown more energy-intensive for the second year in a row. Oil remains the world’s leading fuel, at 33.6% of total consumption, but lost market share for the 11th consecutive year. China contributed the largest national increment of oil consumption, posting a 10.4% increase in oil consumption. Natural gas and coal saw strong consumption growth, taking market share from oil. Renewable forms of energy contributed 1.8% of global energy supply; China is now the world’s largest wind-power generator, accounting for 48% of the world’s new wind power capacity.