High Gas Prices: China's Demand or War Policy?
OIL CONSUMPTION, U.S. vs. CHINA--THE MODEST GROWTH OF GLOBAL DEMAND
Is this source of information impartial enough? This CIA chart below, recording consumption by country, refutes the talk radio propaganda (Listen here: locally from Mike Agnello on 58 Live in Charleston, and ignorant callers) that China's demand is the cause of increased gas prices. China, despite its population, consumes about 1/3 of what the U.S. does. Bear in mind also the European Union is not a sovereign country, so if it is ignored (to compare apples with apples), it makes clear just who dominates global oil consumption, with no one else even close. From this source even the propagandists must confess that the U.S. consumes over 25% of the entire global demand!
In sources recently published through 2007, the growth of China's consumption is of course confirmed, but concludes that, globally, Oil Consumption Continues Slow Growth:
And now consider this documented conclusion as well, from same source, noting "political instability" (i.e. war), and that Iraq oil production remains "below prewar production levels":
Kenny Bass, joined Agnello today in some double-barreled propaganda about this, and stated, authoritatively, but based upon nothing, that "the war is an excuse" for these prices, and that "increased demand" is the cause. Boulderdash! The war is the primary leading cause, not merely an unrelated "excuse" being given, while the so-called innocent oil industry has reduced their own refining capacity, deliberately, of their own free will, while not seeking new refinery capacity, in order to increase their profits! (See previous articles under "gas prices" tag).
Is this source of information impartial enough? This CIA chart below, recording consumption by country, refutes the talk radio propaganda (Listen here: locally from Mike Agnello on 58 Live in Charleston, and ignorant callers) that China's demand is the cause of increased gas prices. China, despite its population, consumes about 1/3 of what the U.S. does. Bear in mind also the European Union is not a sovereign country, so if it is ignored (to compare apples with apples), it makes clear just who dominates global oil consumption, with no one else even close. From this source even the propagandists must confess that the U.S. consumes over 25% of the entire global demand!
In sources recently published through 2007, the growth of China's consumption is of course confirmed, but concludes that, globally, Oil Consumption Continues Slow Growth:
THE PRICE OF WAR PROVENGlobal demand for oil reached 85.7 million barrels per day in 2007, a modest 1-percent increase over the 84.9 million barrels consumed daily in 2006.1 (See Figure 1.) This marked the third straight year in which oil demand grew at an annual rate of less than 2 percent.2 Despite the slow growth in demand, oil prices rose from just above $50 in January to near $100 at year’s end—close to the all-time inflation-adjusted price record that was reached in the early 1980s.3
The United States continued unchallenged as the world’s single largest oil-consuming nation in 2007, using almost one fourth of the global total at a rate of 20.7 million barrels daily.4 But U.S. oil consumption was virtually unchanged for the third year in a row, as rising oil prices discouraged demand despite three years of steady economic growth.5
China increased its petroleum consumption by 5.5 percent in 2007, up from 7.3 million barrels per day in 2006 to 7.7 million barrels.6 It now accounts for nearly 9 percent of the world’s total oil use.7 Over the past decade China has nearly doubled its oil consumption...
And now consider this documented conclusion as well, from same source, noting "political instability" (i.e. war), and that Iraq oil production remains "below prewar production levels":
Political instability contributed to supply disruptions and price volatility throughout many of the world’s oil-producing regions in 2007. Iraq reached its highest level of oil production since the U.S.-led invasion in 2003, but this still remains below prewar production levels.23 In 2007, Iraq raised its production 5 percent over the 2006 figure, with gains in the latter half of the year coinciding with the 2007 “troop surge.”24 Overall, though, tensions in the Middle East remain highly charged and continue to factor heavily into world supply and price activity.Middle east war, and fears of war, drive the volatile and emotionally driven future's market on oil prices, and disrupts and limits supply, which has sent our gas prices from 1.50 per gallon when Bush took office to 3.65 per gallon today.
Kenny Bass, joined Agnello today in some double-barreled propaganda about this, and stated, authoritatively, but based upon nothing, that "the war is an excuse" for these prices, and that "increased demand" is the cause. Boulderdash! The war is the primary leading cause, not merely an unrelated "excuse" being given, while the so-called innocent oil industry has reduced their own refining capacity, deliberately, of their own free will, while not seeking new refinery capacity, in order to increase their profits! (See previous articles under "gas prices" tag).
Rank | Country | Oil - consumption (bbl/day) | Date of Information |
1 | World | 80,290,000 | 2005 est. |
2 | United States | 20,800,000 | 2005 est. |
3 | European Union | 14,580,000 | 2004 |
4 | China | 6,930,000 | 2007 est. |
5 | Japan | 5,353,000 | 2005 |
6 | Russia | 2,916,000 | 2006 |
7 | Germany | 2,618,000 | 2005 |
8 | India | 2,438,000 | 2005 est. |
9 | Canada | 2,290,000 | 2005 |
10 | Korea, South | 2,130,000 | 2006 |
11 | Brazil | 2,100,000 | 2006 est. |
12 | Mexico | 2,078,000 | 2005 est. |
13 | Saudi Arabia | 2,000,000 | 2005 |
14 | France | 1,999,000 | 2005 est. |
15 | United Kingdom | 1,820,000 | 2005 est. |
16 | Italy | 1,732,000 | 2005 est. |
17 | Iran | 1,630,000 | 2006 est. |
18 | Spain | 1,600,000 | 2005 est. |
19 | Indonesia | 1,100,000 | 2006 est. |
20 | Netherlands | 1,011,000 | 2006 |
21 | Thailand |
Posts
