Saturday, May 21, 2005

How oil is changing the world

The Globe and Mail has a seven day series about what awaits the world with the decline and fall in oil production.

Chinese oil consumption has nearly quadrupled since 1980 to 5.7 billion barrels a day. It is expected to double again by 2025. And the Chinese are only just discovering their own Route 66. By 2030, China will have more cars on the road than the United States, putting a call on the world's scarce supplies.

"There will be a moment of awakening for the North American consumer — a realization that it is not entitled to stand first in line to quench its thirst for oil before everyone else gets a shot."

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