Filed under: Uncategorized | Tags: ANE, China, China oil consumption, China oil imports, Chindia, crude oil, peak oil, The Yergin Gap, westtexas, Yergin
“China is importing an increasing amount of crude, which is the most crucial issue for the country’s energy supply,” said Zhang during the Boao Forum for Asia Annual Conference
And the most crucial issue for the world’s energy supply too.
One way to look at it is that we in the west are being outbid by people in Asia for available oil exports. The price is high because if it were any lower people would want to consume more than can currently be produced.
Filed under: Uncategorized | Tags: carbon dioxide emissions, China, Chindia, climate, CO2, Econbrowser, James Hamilton, natural gas liquids, NGLs, oil consumption, Peak Demand, peak oil, total liquids, transportation
And it’s worth remembering why that happened– we didn’t have a choice. Global field production of crude oil (excluding natural gas liquids, which are not used as transportation fuel) stagnated at about 74 million barrels/day between 2005 and 2008. It is up a couple of million barrels since then, but more than 100% of this increase has been consumed by China alone, forcing the U.S. and other countries to reduce our oil consumption.
via James Hamilton: Econbrowser: Declining U.S. carbon dioxide emissions.
Filed under: Uncategorized | Tags: CH4, China, Chindia, CO2, coal, electricity, energy, India, Peak Smart, power plants
Forgetting to start our renewable energy project.
Global demand for coal is expected to grow to 8.9 billion tons by 2016 from 7.9 billion tons this year. China is expected to add about 160 new coal-fired plants to the 620 operating now, within four years. During that period, India will add more than 46 plants.
Filed under: Uncategorized | Tags: Asian oil demand, Chindia, Chris Nelder, demand destruction, efficiency, energy, fat gets trimmed, fuel efficiency, global oil consumption, OECD, peak oil, transportation
Chris Nelder explains a critical dilemma facing American consumers. As total available oil exports decrease (at a rate that would bring them to absolute zero in about four years), inefficient westerners will be outbid by the new Asian “middle class” for these diminishing supplies.
Of course, exports can fall to zero in theory only, not in practice. In reality, high prices will kill the most inefficient, unsubsidized demand first—in the U.S. and Europe. Next, demand will be curbed in net exporting countries, first via the removal of domestic fuel subsidies, and then by world prices. The demand of the four billion people in Asia will be the last to go because they use it most efficiently.
Translation: The fat gets trimmed. The fat is here.
Filed under: Uncategorized | Tags: available net exports, Chindia, energy, India, India oil consumption, India oil imports, peak oil, unavailable net exports
Via the Energy Export Databrowser:
Also — China’s import picture.
Filed under: Uncategorized | Tags: Asia, China, Chindia, oil consumption, oil demand, oil imports, peak oil
via the Export Data Browser:
Filed under: Uncategorized | Tags: China, Chindia, India, Iran, Iran sanctions, who buys Iran's oil, workaround
India is exploring all options to find a way out to make oil payments to Iran as there are chances that Turkey, through which it is making payment, may come under pressure after a fresh round of U.S. sanctions imposed on Iran.
India currently pays Iran about $1 billion every month through Turkey for the 370,000 barrels a day of crude oil it buys from the world’s fourth-largest oil producer.
According to sources, India is holding talks with Russia for routing payments to Iran. Discussions with United States are also going on for a possible relaxation or waiver in the sanctions.
Iran sanctions lead U.S. allies in Asia to seek special arrangements in order to continue, perhaps increase, imports from Iran. This is an interesting way for the US to increase leverage against any country that imports a lot of oil from Iran, including China. Anything about these workarounds in the US press?