Demand For Oil In Asia Soaring

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.

1 minute read

February 1, 2005, 2:00 PM PST

By Michael Dudley

"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."

Thanks to Michael Dudley

FULL STORY: The Axis of Oil

Monday, January 31, 2005 in In These Times

Government / Politics Asia-Pacific

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