China was the world’s top energy consumer in 2010, according to new data from BP. The scary thing is that Chinese demand could just be getting started.
Early Warning’s Stewart Staniford charts Chinese vehicle growth over the past two decades. The number has increased by about 23% annually (chart 1) and is on track for a massive boom (chart 2).
James Hamilton notes that Chinese oil consumption per capita is still one third the level of Mexico.
Massive growth is possible. The limiting factor will be the world oil supply.
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