China's oil use is changing world energy markets

STLtoday.com (WSJ) ^ | 12-7-03 | PETER WONACOTT, JEANNE W HALEN

[FairWitness]

With its factories working overtime, and its consumers on course to buy almost two million cars this year, China is developing a world-class thirst for oil. And its hunt for steady supplies is reshaping the global energy scene.

China this year surpassed Japan as the No. 2 petroleum user after the United States. It is increasing its oil purchases even faster than it is pumping up its brawny economy. Imports for the first 10 months of 2003 were up 30 percent from year-earlier levels. The International Energy Agency expects imports to double to some four million barrels a day by 2010. By 2030, China is expected to be importing about 10 million barrels a day, roughly what the United States does now. Domestic oil output, meanwhile, is flat.

[FairWitness]

Sounds like an extremely good reason (as if any more were needed) for the U.S. to become as energy-independent as possible.

[Bringbackthedraft]

Here it comes! No more oil available after 2015. "The world's oil supply will be gone." Its going to be 1973 all over again. Can you see it coming?

[stylin_geek]

Interesting this comes out now. I've said for a while that China was part of the equation when the U.S. went into Iraq.

[FairWitness]

China this year surpassed Japan as the No. 2 petroleum user after the United States.
This statistic surprised me. Yes, I know China is BIG, but I didn't think their use of oil was anywhere near the top yet (and they would not be covered by the Kyoto Treaty??!!).

[Willie Green]

China is also building Maglev, high-speed rail systems and nuclear power plants.

Spencer Abraham is shilling hydrogen-based junk science.

Dubya is reasearching militarized Segways and talking about flying to the Moon.

We are governed by idiots.

[Lessismore]

Fusion is the only viable long-term energy source. The Japanese and Europeans have a vital interest in making it work.

[joesnuffy]

gonna big a big brawl over the middle east oil before long....a reeeeeaally big one...
imo

[cp124]

Wal-Mart sells gas. We will be all set.

[Willie Green]

Fusion is the only viable long-term energy source.

Fusion is at least 20 years away,
It was 20 years away 20 years ago,
And it'll still be 20 years away 20 years from now.
I'm beginning to think that there's something about the
Theory of Relativity that dictates it will ALWAYS be 20 years away.

[Lessismore]

For more on the International Thermonuclear Experimental Reactor program go to http://www.iter.org/

This is mainly a European and Japanese project, although Russia, China and the United States have joined.

The US has little interest in fusion energy, since it would impair our dominance in the hydrocarbon fuels industry.