Friday February 10, 2006 | ${log.root}/lowem.log Inflation, Investing and Everything |
|
peakoil.com -> chron.com : During last week's State of the Union address, President Bush uttered the words few thought he would ever say: "Here we have a serious problem. America is addicted to oil." To be sure, the U.S. is the biggest consumer of crude in the world. But it is hardly alone in its addiction. A review of data from the International Energy Agency shows Canada's consumption mirrors that of the U.S. And China has seen its increasing capacity to swill oil blamed for some of the run-up in crude prices, and the fear is that China is just getting warmed up. Even though the Chinese consume only about 2 barrels of oil per person each year, the country has all the hallmarks of North America's "big country syndrome." Canadians use slightly more oil per person each year than Americans do - 26.2 barrels, compared with the U.S. average of 25.6 barrels. Canada is cold, and Canadians need crude to keep warm. Both countries have industrialized economies with a multitude of oil-intensive industries, from manufacturing to farming. And in the absence of any meaningful public transportation system, big countries build a lot of roads and have legions of cars, trucks and SUVs driving on them. Of course, the U.S. has more than nine times the population of Canada, which makes it, far and away, the largest overall consumer of oil on the planet. But big country syndrome, along with all of its energy implications, is why so many energy watchers are so nervous about China. The country has a population of 1.3 billion people itching for a better standard of living. Getting there requires oil. See also : 1. Bush : 'America Addicted to Oil' (2006-02-10 13:38:26 SGT)
[Energy]
Permalink
Comments:
Post a Comment:
Comments are closed for this entry.
Most popular blog postings on lowem.log : 1. Singapore SIBOR rate falls to 0.94% in Nov 2008, lowest since Jul 2004 Featured articles on lowem.log : 1. ABC Guide to Beating Inflation in Singapore and Elsewhere |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||