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To: Wharf Rat who wrote (132279)3/24/2013 4:34:46 PM
From: mel221  Read Replies (2) | Respond to of 149317
 
>> China accounts for most of the world growth in GDP, too. They are sucking up most of the energy in the room, taking the 2 M BPD we used to use and taking the 6% from Europe, outbidding the rest of us.

Exactly. With their growth, I doubt worldwide energy use is flat. Its still growing and being shuffled in both geography and form.

Supply is fine. Growth in both the number of individuals and energy use per individual is keeping prices high.

According to IEA data from 1990 to 2008, the average energy use per person increased 10% while world population increased 27%. Regional energy use also grew from 1990 to 2008: the Middle East increased by 170%, China by 146%, India by 91%, Africa by 70%, Latin America by 66%, the USA by 20%, the EU-27 block by 7%, and world overall grew by 39%.

en.wikipedia.org