Tuesday, April 30, 2013

China oil consumption growing faster, and not price-sensitive

Early Warning: "If we note that Chinese population is four times larger than the US population, and 2011 US consumption was almost 19mbd, we see that Chinese per-capita consumption is still only something like 1/8 of that of the US.  So there's a lot of room to grow still.  Also, China is in the middle of building an expressway system that will be substantially larger than the US freeway system."

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