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U.S. Energy Output Jumps as China Spurs Global Demand: BP

The world’s two largest economies followed opposite paths on energy last year as the U.S. boosted oil and gas production while Chinese consumption jumped, according to BP’s Statistical Review of World Energy.

Shale production made the U.S. the world’s largest gas producer and the country’s oil output climbed more than any nation outside the Organization of the Petroleum Exporting Countries in 2011, BP said today in its annual survey. China accounted for 71 percent of global demand growth.