Oil Consumption Influence On Economic Growth Under The Condition Of Rapid Economic Development

In recent years, with the rapid development of China’s economy and society, the domestic consumption of petroleum energy demand is increasing rapidly. China’s coal is more and oil is less.oil consumption is largely dependent on imports. At the same time, China’s economic growth is still not free from the extensive mode of economic development, energy efficiency is not high, and Waste of resources is serious.With the deepening of China’s urbanization, high-quality oil resources will be greatly needed. At this time, advanced and effective energy-saving measures, scientific and rational energy consumption structure is particularly important in the economic development.Under the condition of high economic growth, the traditional relying mainly on coal energy consumption structure also gradually shows its drawbacks. Coal energy consumption in the rapid economic growth brings also caused serious environmental pollution at the same time, but now China’s economic development to scientific, balanced and sustainable development road, highly polluting coal must be reduced energy consumption, raise the proportion of clean energy efficient oil consumption.In this paper, the research on the interference between economic growth and oil consumption, oil price in China from several angles was propounded. It is very important to adopt advanced and effective energy-saving measures to ensure the safety of China’s oil consumption. In order to achieve this goal, we will use a combination of qualitative and quantitative research methods.Chapters of this paper are arranged as following:The first chapter is the introduction. This chapter introduces the research background and significance of this article. Energy consumption can support the rapid development of economy. Under the condition of rapid economic development, ensure the oil energy consumption can sustain China’s economic growth is very important.The second and the third chapter analyzed the present situation of the oil consumption and the relationship between oil consumption and the economic growth.The current oil consumption in China is far lower than the world average. The future of oil consumption in China will continue to increase. The contradiction between supply and demand of oil consumption will be further intensified.The fourth chapter analyzed the impact of China’s oil consumption to economic growth. This chapter mainly uses Co-integration test, vector error correction model and Granger causality test method. The results indicated that they had the Co-integration relationship and economic growth led to oil consumption in single direction.Finally, on the basis of the findings, make recommendations to the coordinated development of economic growth and oil consumption.