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Bush Says U.S. Should Help China Boost Fuel Efficiency
It is in the best interests of the United States to help the fast-growing economies of China and India become more energy efficient, President Bush said on Monday.
It is the U.S. "national interest" to help both countries use oil and other energy sources as efficiently as possible, Bush said in a speech while visiting a biodiesel production plant in southern Virginia. "When the global demand for oil is lower, Americans will be better off at the gas pump," Bush said.
China's thirst for crude oil far outstripped expectations in 2004, contributing to tight global supplies. Although China's oil demand growth slowed in the first quarter of 2005, some analysts said on Sunday that its April crude oil imports soared by 23 percent to an all-time monthly high of 12.25 million tonnes.