• 4 minutes Is The Three Gorges Dam on the Brink of Collapse?
  • 8 minutes The Coal Industry May Never Recover From The Pandemic
  • 11 minutes China Raids Bank and Investor Accounts
  • 3 hours Biden admits he has been tested for Cognitive Decline several times. Didn't show any proof of test results.
  • 3 hours During March, April, May the states with the highest infections/deaths were NY, NJ, Ma. . . . . Today (June) the three have the best numbers. How ? Herd immunity ?
  • 5 hours Putin Forever: Russians Given Money As Vote That Could Extend Putin's Rule Draws To A Close
  • 9 mins Apology Accepted!
  • 2 hours Tesla Model 3 police cars pay for themselves faster than expected, says police chief
  • 3 hours Putin Paid Militants to Kill US Troops
  • 3 hours Why Oil could hit $100
  • 9 hours The Political Genius of Donald Trump
  • 24 hours U.S. natural gas at major disadvantage in Europe and China.
  • 1 day Biden came out of his basement today (Thursday) and said , "we have 120 Million deaths from Covid 19.
  • 18 mins Per most popular Indian websites it was Indian troops not Chinese troops breach of LAC that caused the clashes. If you know any Indian media that claim to the contrary please provide the link
  • 1 day The world is headed for big problems - interview with very smart economist
  • 1 day CoVid in Spain, 9 months before China
Supermajors Are Flocking To This Booming Oil Frontier

Supermajors Are Flocking To This Booming Oil Frontier

Supermajors are flocking to this…

U.S. Shale Scrambles For Credit With Oil At $40

U.S. Shale Scrambles For Credit With Oil At $40

U.S. oil and gas companies…

Oil Rig Count Collapse Beginning To Slow

Oil Rig Count Collapse Beginning To Slow

Baker Hughes reported on Thursday…

James Hamilton

James Hamilton

James is the Editor of Econbrowser – a popular economics blog that Analyses current economic conditions and policy.

More Info

Premium Content

Rapidly Increasing Chinese Oil Demand

Stuart Staniford notes that the number of trucks and passenger vehicles in China has been growing at about 23% each year.

Vehicle growth rates for U.S. and China
Vehicle growth rates for U.S. and China. Source: Early Warning.

You don't have to extrapolate that too far into the future to come up with a pretty scary picture.

Number of vehicles in U.S. and China
Number of vehicles in U.S. and China. Source: Early Warning.

Is that a silly extrapolation? Stuart notes that the plot for 2015 would still leave the U.S. with 7 times as many vehicles per person as China. And the level of oil consumption per person in China today is 1/3 the current oil consumption per person in Mexico ([1], [2]). No question, there's potential for a lot more growth in demand from China

What's substantially less clear is where the oil to fuel those cars could come from.

By. James Hamilton

Reproduced from Econbrowser


Download The Free Oilprice App Today

Back to homepage





Leave a comment
  • Anonymous on June 15 2011 said:
    There is one marvelous explanation for the vehicle growth in China, even though the means for fueling those vehicles is unclear, and in fact may not exist. The Chinese leadership has gone bonkers.The problem is that that is kind of explanation to expect from the geniuses who decided to go to war in Libya, and to prolong the US involvement in Iraq and Afghanistan. Sensible observers - to include my good self - will draw another conclusion, however I think that I will do myself a favor and not discuss that conclusion here.I will however give interested persons a clue. The Chinese army that stopped our advance in Korea was a rag-tag army, andafter getting a good look at what we had at our disposal, it was difficult not to believe that their time in history had arrived.

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News