US Now No. 2 in Energy Consumption, China Leads

China is now the world's largest energy consumer.

The milestone reflects China's decade-long burst of economic growth and its rapidly expanding future needs as an industrial powerhouse.

According to new data from Paris-based International Energy Agency, China devoured 2,252 million tons of oil equivalent last year, or about 4% more than the U.S., which burned through 2,170 million tons of oil equivalent. The oil-equivalent metric represents all forms of energy consumed, including crude oil, nuclear power, coal, natural gas and renewable sources such as hydropower.

China has grown dramatically. Ten years ago, China's energy consumption was only half of that of the U.S. China's demand for energy is credited for sustaining higher prices for everything from oil to uranium.