atans1

Whither the price of oil?

In China, Energy on 28/09/2010 at 5:50 am

A stupid question. Upwards and onwards. Juz look at the small cap stocks in S’pore’s offshore marine industry.

But consider this fact reported in “The Squeeze”, Tom Bowyer’s book on the recent history of the oil industry. ┬áChina requires three times more oil and gas to manufacture the same item than US or Europe. The equivalent of 16m barrels of oil are wasted every day.

All this means is that if China can get more energy efficient, it can increase output, using less oil.

I’m an energy bull, but this statistic has me wondering if I shld be less bullish.

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