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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Taikun who wrote (34720)	8/26/2004 5:21:49 AM
From: Tomas	of 206093

Energy demand in China: CERA's (Cambridge Energy Research Associates) Daniel Yergin say "from being a coal exporter in the early 2000s, China's industrial and power demand caused coal shortages in many provinces by 2003. The state opened coal production channels just to try to keep up. The explosion in energy demand in China has been the primary reason for a doubling in the world price for thermal coal and a tripling in price for metallurgical coke. The economic boom also doubled the price for coal and the cost of vessel transport." Raymond James' <<When It Comes to Oil Demand, China is in the Driver’s Seat – Literally!>> from January 2004 is still worth reading: beacon1.rjf.com John Westwood, principal in Douglas-Westwood, a Canterbury, U.K., research and consulting firm, say: "Any growth in global economic activity increases oil demand such that at 1% demand growth, a production peak occurs in 2016. At 2% it occurs in 2012, and at 3% it occurs in 2008. The world's known and estimated yet-to-find reserves and resources cannot satisfy even the present level of production of some 76 million barrels a day beyond 2020."

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