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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
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To: GoldBull no bug here who wrote (30923)1/25/2007 10:34:10 PM
From: LoneClone  Read Replies (1) of 78416
 
Here's a germane quote from Eric Sprott:

“The Chinese economy continues to suck up natural resources at an alarming rate. Already they are the number one consumer of
many commodities. They are the world’s number one consumer of coal, consuming twice as much as the US. They are the number one consumer of copper, consuming 50% more than the US. They are the number one consumer of aluminum, zinc, iron ore and steel.

They recently became the number two consumer of oil, surpassing Japan but still significantly behind the US. The Chinese share of global oil consumption has doubled in the past decade from 4% to 8%, resulting in 4 million barrels per day of incremental oil demand. Chinese demand for most other commodities has tripled in that time. Automobile consumption grew 25% last year
and has tripled in the last five years.

If China were ever to consume as much oil per capita as the US, it would mean the world needs to find 80 million barrels per day of new oil production…”

LC
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