In China, the country’s strategic shift toward alternative fuels to cut its reliance on foreign oil is creating huge opportunities in natural gas vehicles and in the conversion of coal to ethanol, according to a report from Lux Research. The Asian giant bids to reduce foreign oil imports from the current 50% of domestic demand, amounting to 483 billion gallons of gasoline. Additionally, the country’s plans to limit coal-fired power plants, on account of growing pollution, means that vast amounts of oversupplied coal are available for conversion to alternative fuels.
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