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China is the Reason the Era of Fossil Fuels is Coming to an End

China is said to be moving away from global use of fossil fuels. It is said that the country led by Xi Jinping has been the driver of global fossil fuel consumption over the last decade.

During this period, according to the Executive Director of the International Energy Agency (IEA), Fatih Birol, China changed the world energy system.

China has changed the global energy system in the last 10 years. China itself is now changing,” said Birol to CNBC International, quoted on Saturday (4/11/2023).

He added that “China’s economy is slowing down and undergoing rebalancing and restructuring”.

According to him, this is also what will cause global demand for fossil fuels to reach its peak in 2030. World Energy Outlook 2023 notes, the fuel share will be at 73% in seven years, down from the usual 80%.

The IEA describes China as contributing more than half of the growth in global energy demand. The country also made an increase, reaching 85%.

Birol also sees that China is making changes. Dependence on industries such as steel and cement production, railways and infrastructure is said to decline.

“So China’s demand for fossil fuels will be less than in the last 10 years. This is the second driver we believe will see a peak in fossil fuels this decade,” he said.

Meanwhile, Birol also revealed another main driver when the peak use of fossil fuels occurs. Namely starting from the use of clean energy, including the increasing popularity of electric cars and the importance of renewable energy in electricity generation.

Source : CNBC