Tuesday, January 02, 2007

China Oil Demand

See the Wall Street Journal January 2, 2007 article Feeding China's Oil Thirst by Shai Oster
“China has become more dependent on energy imports amid rapid industrialization and the rise of a middle class snapping up cars, as well as flat-lining output from its domestic oil fields. Its demand for oil is expected to reach 7.4 million barrels a day in 2007, up from seven million barrels in 2006 and 35% ahead of the 5.5 million barrels in 2003. But its domestic supply this year is expected to be just 3.7 million barrels a day, only slightly more than the 3.4 million barrels a day it pumped out in 2003.”

This certainly bodes well for globalization which may lead to a more peaceful world and there is increased trading and interdependence. However, if one is concerned about carbon dioxide emissions, it would be better to have China solve its growing energy needs with zero greenhouse emitting nuclear power.


Post a Comment

<< Home