You don't know much, do you?
I sure hope you aren't Kerry's energy advisor. Well, you can always tell him to read the polls and speak.
Now, a 350,000 BPD increase in consumption in a year may not sound like much to you, but production has been plateaued for 16-24 months. That oil ain't there. So, he who has the gold makes the rules, and China will out bid us with our own money, and gas will go to $4 and then $5, ... (and some people won't have enuf,and will riot, as has already happened)
And every 10 cents, you will scream "manipulation". LMAO
Yang isn't the only one made uncomfortable by his globetrotting. CNOOC's aggressive efforts to secure reliable supplies of oil and natural gas around the world reflect just how strong China's thirst for fossil fuels has become. Motorists bemoaning high prices at the pumps—oil rose to a record $55 a barrel on Oct. 15, up 65% this year—can with some justification point an accusatory finger toward the mainland. Its booming economy and burgeoning appetite for cars and other modern conveniences have caused energy demand to soar. China's oil imports doubled over the past five years and surged nearly 40% in the first half of 2004 alone. These increases vaulted the mainland ahead of Japan and into second place among the world's biggest oil consumers, behind only the U.S.
time.com
The two countries with the highest rate of growth in oil use are China and India, whose combined populations account for a third of humanity. In the next two decades, China's oil consumption is expected to grow at a rate of 7.5% per year and India’s 5.5%. (Compare to a 1% growth for the industrialized countries). It will be strategically imperative for these countries to secure their access to oil.
iags.org
Chinese oil consumption is expected to rise from 6.59 mln barrels per day in 2005 to 6.95 mln this year as its once largely agrarian economy continues its rapid industrialisation and more of its citizens buy cars.
forbes.com |
