Oil Prices Declining? Think Again!

[atpcliff]

Hi!

This is why:

Washington Watches with Concern China's Oil Demand

Source: Reuters
[Jun 10, 2005]

SYNOPSIS: China consumes more than 7 million barrels per day of crude oil, versus U.S. consumption of about 20 million bpd.

WASHINGTON (Reuters) - China's global quest for crude oil is acceptable as long as the Asian nation develops the deposits and doesn't hoard them, a senior State Department official said on Tuesday.

China, the world's second-biggest oil user behind the United States, has recently scoured the globe for oil deals in Canada, Latin America and Africa.

Rapid Chinese oil demand growth was one of the factors that pushed U.S. crude oil futures above $55 a barrel.

"China's energy needs are going to be enormous in the future," said Christopher Hill, the State Department's assistant secretary for East Asia and the Pacific."
...
Sen. Lisa Murkowski of Alaska, who chairs the East Asian and Pacific Affairs subcommittee, said the United States faces growing competition from China in Canada, which is the biggest U.S. oil exporter.

Canadian and Chinese firms are cooperating to build a $2 billion pipeline to ship crude from Canada's vast oil sands in Alberta to the West Coast to be sent via tanker to China."

http://www.evworld.com/view.cfm?section=communique&newsid=8667

Oil prices will come down as soon as demand in the US and/or China start decreasing steadily. Do you see that happening soon?

It can if we switch to alternative fuels.

If we don't? Are you willing to go fight a land war in Asia?

CLiff
HEF

 

[atpcliff]

Hi!

The US Dept. of Energy:

We know that our national leaders are hardly uninformed about this predicament. President George W. Bush has been briefed on the dangers of the oil-peak situation as long ago as before the 2000 election and repeatedly since then. In March, the Department of Energy released a report that officially acknowledges for the first time that peak oil is for real and states plainly that "the world has never faced a problem like this. Without massive mitigation more than a decade before the fact, the problem will be pervasive and will not be temporary."

http://www.evworld.com/view.cfm?section=communique&newsid=8665[/URL

 

[FN FAL]

Hi!

This is why:

Washington Watches with Concern China's Oil Demand

Source: Reuters
[Jun 10, 2005]

SYNOPSIS: China consumes more than 7 million barrels per day of crude oil, versus U.S. consumption of about 20 million bpd.

WASHINGTON (Reuters) - China's global quest for crude oil is acceptable as long as the Asian nation develops the deposits and doesn't hoard them, a senior State Department official said on Tuesday.

China, the world's second-biggest oil user behind the United States, has recently scoured the globe for oil deals in Canada, Latin America and Africa.

Rapid Chinese oil demand growth was one of the factors that pushed U.S. crude oil futures above $55 a barrel.

"China's energy needs are going to be enormous in the future," said Christopher Hill, the State Department's assistant secretary for East Asia and the Pacific."
...
Sen. Lisa Murkowski of Alaska, who chairs the East Asian and Pacific Affairs subcommittee, said the United States faces growing competition from China in Canada, which is the biggest U.S. oil exporter.

Canadian and Chinese firms are cooperating to build a $2 billion pipeline to ship crude from Canada's vast oil sands in Alberta to the West Coast to be sent via tanker to China."

http://www.evworld.com/view.cfm?section=communique&newsid=8667

Oil prices will come down as soon as demand in the US and/or China start decreasing steadily. Do you see that happening soon?

It can if we switch to alternative fuels.

If we don't? Are you willing to go fight a land war in Asia?

CLiff
HEF

Yea, we should buy 35,000 dollar hybrid cars so that the chinese can get all the oil at cheaper prices! Yahoo!