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Demand For Oil In Asia Soaring

Posted by: Michael Dudley
Thanks to: Michael Dudley
1 February 2005 - 2:00pm

With increasing car use in India and China will come a surge in their need for oil. The potential volatility from such aggressive oil politics could bring China and India into conflict with Western, Japanese and other regional interests.

"By 2010 India will have 36 times more cars than it did in 1990. China will have 90 times more, and by 2030 it will have more cars than the United States...
With global oil production barely 1 million barrels over the global consumption rate of 81 million barrels a day, the surge in demand from China and India could eventually lead global demand to outstrip supply, causing fuel prices to shoot up beyond their recent highs of around $56 a barrel."

Full Story: The Axis of Oil
Source: In These Times, January 31, 2005
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These interconnections ratify for us the sense that markets are as strong as confidence is present and confidence is as justified as patterns are dependable. These are what might be called our community moorings: anchored, tangible patterns.
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