$135 per barrel. 2 Billion People in India and China are started to become consumers.

berni_mccoy

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Thu May-22-08 07:35 AM
Original message

$135 per barrel. 2 Billion People in India and China are started to become consumers.

Edited on Thu May-22-08 07:36 AM by berni_mccoy

Two countries who are booming economically have 6 times the population of the U.S.

There is no more oil to pull out of the ground as the demand sky-rockets.

We have barely begun to see inflation.

Welcome to peak oil.

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nradisic

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Thu May-22-08 07:54 AM
Response to Original message

1. Everybody needs to take a chill pill...

90+% of the Chinese and Indian population (which totals almost 2 billion people) live on less than a dollar a day. They are lucky if they can afford a bike and some rice to eat.

How the fuck are they going to buy cars and fill them up with gas costing upwards of $4 per gallon?

Everyone is in a tizzy and that's exactly when things happen that no one is expecting. We'll see $80 oil before $150....just watch what happens over the next few months....

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SidDithers

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Thu May-22-08 07:56 AM
Response to Reply #1

2. Bookmarking....

for when oil hits $150.

Sid

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berni_mccoy

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Thu May-22-08 07:59 AM
Response to Reply #1

3. Yes, they've just only started and we are seeing the effects. Oh and that's not true of India.

I doubt it's true of China, as the numbers you quoted are certainly old by now.

China has 12 cities larger than New York.

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muriel_volestrangler

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Thu May-22-08 08:03 AM
Response to Reply #1

4. They don't have to buy lots of cars, just consume a little more

That means more trucks, more buses, more diesel-powered trains. Some will get motorbikes; some will get cars. Yes, they'll have to pay more for goods, and food, as a result. But those are the economies with growth that can pay more.

Consumption. World oil consumption is projected to grow by 1.2 million bbl/d in 2008. Almost all of the growth in 2008 is expected to come from the non-Organization for Economic Cooperation and Development (OECD) countries, led by China, Middle East oil producing countries, and Russia, as well as Brazil and India (World Oil Consumption). China�s oil consumption is expected to rise by 0.4 million bbl/d in 2008, with Chinese oil imports in March showing an increase of 0.8 million bbl/d from year-earlier levels. OECD oil consumption is projected to remain relatively unchanged, with growth in consumption in Europe, where weather factors constrained oil consumption in 2007, offsetting declines in the United States.

http://www.eia.doe.gov/steo

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tama

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Thu May-22-08 08:07 AM
Response to Reply #1

5. Subsidies

Chinese gas is subsidized, consumers don't but market prices but fixed prices.

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Jim__

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Thu May-22-08 08:28 AM
Response to Reply #1

7. Where do I go to get my pill?

And, how much does it cost?

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treestar

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Thu May-22-08 09:31 AM
Response to Reply #1

10. Very true, they will set up with mass transport and low fuel usage

vehicles, mopeds and motorbikes, from the start.

Our problem is our problem: we allowed ourselves to become a car-dependent society by the way we built up in the 50s and the zoning laws.

We need to quit blaming others and resenting their later-than-our prosperity and figure out how to reconfigure our country so that it is not so wasteful.

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underpants

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Thu May-22-08 08:10 AM
Response to Original message

6. gas is $2.90 in China

04.25.08
Another culprit is the Chinese government: On one side, it asks automakers to make more efficient vehicles, but on the other it "has tried to shield farmers and the urban poor from high oil prices by freezing pump prices for gasoline and diesel, keeping them among the world's lowest. That takes the sting out of filling up a gas guzzler." Gas costs 5.34 yuan (76 cents US) a liter, or about $2.87 per US gallon.

http://www.treehugger.com/files/2008/04/beijing-auto-show-gas-guzzler-popular-china.php

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berni_mccoy

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Thu May-22-08 09:29 AM
Response to Reply #6

8. Currency manipulation by China. Works every time.

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gatorboy

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Thu May-22-08 09:31 AM
Response to Original message

9. Why buy into that hype?

The screwing us at the pump and it has nothing to do with China or India. Didn't they try to pull the same excuse with the food market last month?

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