- Jan 8, 2007
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no, not to the detriment of our own nation we should not. WHO is making the buck? Our solid middle class that allows us to consume irans oil or that fluid top 2% that have no problem taking off when things get too rough for their dress shoes? No, sir, bad business is forgetting to protect your home for the sake of a rabbit diet starvation cash flow scheme.
And, you are simply wrong. China and India together will more than make up for what we consume after your kind have it's way and the average American can only afford slightly better than the average mexican pauper. Face it, the lower you'd value American labor the less spending potential we have collectively which makes the US less capable of maintaining the dominance necessary to allow the consumption of such a globally lopsided amount of oil. After your kind run us into bankruptcy, well, lets just say it will be ironic as fuck to see opec nations and china doling out the same advice you would give to a UAW member.
Fueling the dragon: China's race into the oil market
With 1.3 billion people, the People's Republic of China is the world's most populous country and the second largest oil consumer, behind the U.S. In recent years, China has been undergoing a process of industrialization and is one of the fastest growing economies in the world. With real gross domestic product growing at a rate of 8-10% a year, China's need for energy is projected to increase by 150 percent by 2020. to sustain its growth China requires increasing amounts of oil. Its oil consumption grows by 7.5% per year, seven times faster than the U.S.'
Growth in Chinese oil consumption has accelerated mainly because of a large-scale transition away from bicycles and mass transit toward private automobiles, more affordable since China's admission to the World Trade Organization. Consequently, by year 2010 China is expected to have 90 times more cars than in 1990. With automobile numbers growing at 19% a year, projections show that China could surpass the total number of cars in the U.S. by 2030. Another contributor to the sharp increase in automobile sales is the very low price of gasoline in China. Chinese gasoline prices now rank among the lowest in the world for oil-importing countries, and are a third of retail prices in Europe and Japan, where steep taxes are imposed to discourage gasoline use.
Where will China get its oil?
China’s ability to provide for its own needs is limited by the fact that its proven oil reserves are small in relation to its consumption. At current production rates they are likely to last for less than two decades. Though during the 1970s and 1980s China was a net oil exporter, it became a net oil importer in 1993 and is growingly dependent on foreign oil. China currently imports 32% of its oil and is expected to double its need for imported oil between now and 2010. A report by the International Energy Agency predicted that by 2030, Chinese oil imports will equal imports by the U.S. today.
http://www.iags.org/china.htm
China's oil consumption to hit 563M tons in 2020
BEIJING -- China is expected to consume 62.5 percent more oil in 2020 compared with 2006 as fast economic growth will continue to fuel domestic oil demand, says a government think tank.
China's oil consumption would rise from 346.6 million tons in 2006 to 407 million tons in 2010 and 563 million tons in 2020, the Chinese Academy of Social Sciences forecast in a new report.
Oil demand would grow by an annual average of 4.5 percent from 2007 to 2010 and an annual average of 3.3 percent from 2010 to 2020, it said.
The rise in refined oil demand would outpace total demand over the next 13 years, with gasoline demand up 5.7 percent annually, helped by a booming automotive industry. Kerosene demand would grow by 5 percent annually and diesel oil 4.2 percent.
http://www.chinadaily.com.cn/china/2008-04/08/content_6599920.htm
China's Quest for Oil
The passport on Yang Hua's desk is stamped with visas that would alarm immigration clerks around the world. He showed up in Indonesia two days after the Bali nightclub bombings in 2002. He's logged trips on a moment's notice to Iran, Yemen and Qatar, as well as to the U.S., Australia, Canada, England and Brazil. But Yang doesn't try to hide the substances contained in little glass vials that he brings home from his travels. They're lined up on the windowsill of his Beijing office, affixed with labels such as "Saudi sweet." As senior vice president of China National Offshore Oil Corp. (CNOOC), Yang is responsible for the state-owned company's efforts to secure oil and gas supplies all over the globe. The samples of crude are souvenirs that testify how far he must roam in his search. "I'd like it if there was oil under Paris," he says, "but I spend my time in less comfortable places."
http://www.time.com/time/magazine/article/0,9171,501041025-725174,00.html
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