Filed under: Uncategorized | Tags: Chinese oil demand, oil demand, peak oil, petroleum demand, Robert Rapier
Continued to rise even as prices doubled, tripled…Explained in a nice little article by Rapier..
The 20th barrel the average person in the U.S. consumes each year might allow us to drive that 12,000th mile. But the first barrel that someone in a developing country consumes might allow them to drive that very first mile and have heat in their home for the first time. They will be willing to pay a lot more for those initial barrels than we are for our excess barrels, and this explains why their consumption has increased even as oil prices have risen.
Leave a Comment so far
Leave a comment