|
Written by Stumo
|
|
Thursday, 26 June 2008 |
|
Where is oil consumption increasing and decreasing? There are the top ten gainers and top ten losers by barrels per day.
Casey Research says China is enjoying staggering growth rates for car ownership.
Assuming that the 7.3 million new car owners in 2008 each drive 5,000
miles a year, and they achieve 40 miles per gallon, the result would be
an additional 45.6 million barrels of crude demand, equivalent to
125,000 bbl/day. In other words, new Chinese drivers will devour 25-30%
of the recently promised Saudi production increase in a single year.
And don't forget the Chinese brown cloud.
Trackback(0)
 |
TrackBack URI for this entry
Subscribe to this comment's feed