China To Import Gas by 2010. Maybe.
Pity the poor analysts over at Resource Investor. How do you measure current and projected oil importation and consumption in a country as enormous, secretive and chaotic as China? Still, this is one of the best reports on the subject I've seen. It includes a look at the country's rush to build new oil refineries and an explanation of the effect of "teapot" operations on supply. The bottom line's at the bottom: "Vehicle ownership in China is expected to double to about 55 million vehicles over the next five years, as falling prices encourage consumers to purchase cars… The ever increasing number of vehicles in China will help sustain the growth in both oil demand and transportation, driven by the country's rapid economic growth. Moreover, this will offset any efforts by the Chinese government to curb oil demand and imports." So rising international oil prices then? Depends on the supply, obviously. If the peak oil prognosticators are right… uh-oh.
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