(via Paul Kedrosky's blog)TW: You just do not see graphs like this one often. For the first time since WWII world-wide electricity consumption is likely to decrease. While music to the ears of hard-core greenies, it speaks to the relative uniqueness of this current Great Recession. Electricity consumption and economic growth are typically correlated quite closely. Many analysts are keeping a close eye on Chinese electricity consumption which has been increasing annually at double digit rates, until the last two or three quarters when it has suddenly slowed almost to a stop. How Chinese GDP is retaining its 6% growth rates whilst its electricity consumption slows greatly is perplexing some observers.
2 comments:
I don't think this decline in energy consumption is the effect of economic downfall only. We should also give credit to the great efforts of the supporters of 'green' measures. They have almost made their advocacy a trend, as manifested in the amount of resources available today that teach such environment-friendly practices. Kudos to them!
There could be a correlation, but not necessarily a causation. Advancements have been made since WWII in how we consume electricity, so we could be utilizing it in a more efficient way.
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