Quote:
Originally posted by KRL
The world consumes about 80 Million Barrels a day. There are 42 gallons per barrel. The US consumes about 18 Million barrels per day.
China can seriously fuck up the equation on the supply and demand in the coming years. Its estimated because China is consuming petro in its burdgeoning economy at unprecedented levels world consumption could skyrocket to 140 Million barrels per day and drive the prices up past $5 a gallon.
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I wouldn't worry about China's dependence on crude oil. The Chinese are far too smart to fall for being dependent on foreign oil or oil as it is. They're way ahead on plant based products that do 10 times the quality product of fossil fuels.
If there's gonna be a run on anything in China, I'ld say watch hemp skyrocket. The industrial hemp plants not the 'get high' stuff. China will make an unprecedented fortune exporting their products crushing the oil cartels in their wake.
Best of all it won't cost the Chinese alot of money to pull it off.