Our Problem

You people are aware that it is not America that is causing the global supply shortage of oil. The biggest problem in the world right now is China. With their 1.3 billion people becoming an industrialized nation, they are using in excess of 50% of the worlds production output of gasoline and other light end fuels.

But, luckily for us, they are rebuilding their country too much too quickly. I predict that China will go "belly-up" for a while in terms of rebuilding in the next 10 years. That will bring prices at the pump back down because the demand won't be as high. (duh)

Uhhh, sorry I didn't bring more to discuss to the table.

Where did you get the 50% figure. The US uses about 25-30% of the worlds oil. That dosen't leave much for the rest of the world.

[edit on 6-8-2006 by steve99]

Originally posted by XS207
You people are aware that it is not America that is causing the global supply shortage of oil. The biggest problem in the world right now is China. With their 1.3 billion people becoming an industrialized nation, they are using in excess of 50% of the worlds production output of gasoline and other light end fuels.

But, luckily for us, they are rebuilding their country too much too quickly. I predict that China will go "belly-up" for a while in terms of rebuilding in the next 10 years. That will bring prices at the pump back down because the demand won't be as high. (duh)

Uhhh, sorry I didn't bring more to discuss to the table.

The USA is using 25% of world production, and is by far the biggest customer, so the 50% of China statement is bogus.

#1 United States 20,030,000 barrels per day
#2 China 6,391,000 barrels per day
#3 Japan 5,578,000 barrels per day
#4 Russia 2,800,000 barrels per day
#5 Germany 2,677,000 barrels per day
#6 India 2,320,000 barrels per day
#7 Canada 2,193,000 barrels per day
#8 Korea, South 2,168,000 barrels per day
#9 Brazil 2,100,000 barrels per day
#10 France 2,060,000 barrels per day

www.nationmaster.com...

China is putting a large demand on oil resources, but not nearly to the extent that the United States is.
For all of China's 1.3 billion people they only use a fraction of the oil that the 300 million Americans go through.

[edit on 6-8-2006 by Country Soul]