Why Are Gas Prices Falling? China

Wendell Cox — Fri, 04 Oct 2024 15:46:36 -0400

Don’t give into the temptation to believe that the presently falling gasoline prices have something to do with the US Presidential election. The International Energy Agency (IEA) reports that China’s economic malaise is responsible. During the first six months of 2024, global oil demand increased only 800,000 barrels per day, down two-thirds from the first half of 2023 (2,300,000 barrels per day).re than twenty years' experience in planning, economic development, and community development, with stops in the public, private and non-profit sectors. He lives in Chicago.

IEA cites the increased utilization of electric vehicles in China, the reduction of travel by car and air, due to diversion to high-speed rail, though no data was provided on any of these factors.

Wendell Cox is principal of Demographia, an international public policy firm located in the St. Louis metropolitan area. He is a Senior Fellow with the Frontier Centre for Public Policy in Winnipeg and a member of the Advisory Board of the Center for Demographics and Policy at Chapman University in Orange, California. He has served as a visiting professor at the Conservatoire National des Arts et Metiers in Paris. His principal interests are economics, poverty alleviation, demographics, urban policy and transport. He is co-author of the annual Demographia International Housing Affordability Survey and author of Demographia World Urban Areas.

Mayor Tom Bradley appointed him to three terms on the Los Angeles County Transportation Commission (1977-1985) and Speaker of the House Newt Gingrich appointed him to the Amtrak Reform Council, to complete the unexpired term of New Jersey Governor Christine Todd Whitman (1999-2002). He is author of War on the Dream: How Anti-Sprawl Policy Threatens the Quality of Life and Toward More Prosperous Cities: A Framing Essay on Urban Areas, Transport, Planning and the Dimensions of Sustainability.

Photo: An former airfield in Austin, Texas is being redeveloped into a multi-use community with both single and multi-family housing. By Matthew Rutledge via
Flickr under CC 2.0 License.

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Why Are Gas Prices Falling? China