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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (2218)	11/16/2003 12:11:24 PM
From: mishedlo	Read Replies (2) \| Respond to of 110194

What is SASOL? M

To: TobagoJack who wrote (2218)	11/17/2003 10:40:23 PM
From: dara	Read Replies (1) \| Respond to of 110194

<<Yearly oil consumption, per capita, in the USA is about 30 barrels>> ... I will take your estimate for this. <<In China it’s about --- what? --- half a barrel?>> ... I can find out but my guess is much less than 30 barrels. I copied the following from Doug Noland's latest column. He is quoting from the European Wall Street Journal. "China alone accounting for about a third of the world’s rise in use of oil this year and in 2004, when China is expected to displace Japan to become the second-largest consumer of oil after the U.S… In its monthly report released Thursday, the IEA revised upward its forecast for oil demand this year and in 2004. The agency said it now expects world oil consumption to rise this year by 1.3 million barrels a day to 78.6 million barrels a day, or some 170,000 barrels a day more than it had previously expected... The data show that China’s oil use is expected to rise from 4.95 million barrels a day in 2002 to 5.39 million barrels a day this year, and to 5.70 million barrels a day in 2004. The increasing Chinese demand for petroleum will account for 35% of the rise in world-wide demand this year, and 30% in 2004… ‘At this juncture, China is the engine of global oil demand growth with significant room for further expansion in the industrial and transport sectors’ the IEA’s latest Oil Market Report said.” Hope that helps ... dara