Monday, June 05, 2006

 

It's not the end of the world, but you can see it from here

For the first four months of 2006 Chinese imports were up 17 percent over 2005 and averaged 3.0 million b/d. Car sales in China surged by 20 percent during the first 4 months of the year helping to increase the demand for gasoline by 20 percent. Some 5.7 million motor vehicles were sold in China during 2005 bringing the country's fleet to about 30 million. The Chinese forecast that some 9.6 million will be sold each year by 2010 and that if this trend were to continue, China would have 140 million motor vehicles on the road by 2020.  (Peak Oil Review, 6/5/06.)


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