Abstract
In recent years, along with the rapid development of the Chinese economy, the international oil price has climbed substantially. The demand for oil reached a record high, so that a common refrain was “the higher the price of oil, the greater the demand of oil.” There was even the belief that the rise in oil prices had no impact on energy savings.
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Notes
- 1.
X12 is developed on the basis of X11 in the U.S. Census Bureau, in which all data have adopted X12 to make the adjustments. As for the computation of X12 monthly data, please see http://www.census.gov/srd/www/x12a/.
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Wei, YM., Liao, H. (2016). Empirical Research About the Effects of Price on Oil Demand. In: Energy Economics: Energy Efficiency in China. Springer, Cham. https://doi.org/10.1007/978-3-319-44631-8_6
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DOI: https://doi.org/10.1007/978-3-319-44631-8_6
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