Quote:
Originally Posted by obvious Child  Horse crap.
India and China haven't increased their consumption anywhere near to cause that. India Oil - consumption - Economy Real Instituto Elcano
India used 2,130,000 barrels per day in 2004 and 2,438,000 in 2008. Hardly enough to cause global prices to rise to what they did. In 2004 China used around 6 million barrels per day and is now at 6,930,000 per day.
Hardly enough to cause the price to double. Saudi Arabia has enough spare to meet that now. |
Over the last decade the Chinese oil consumption has increased from 19.5 billion cubic meters to 67.3 billion cubic meters, and you've provided no argument as to why those numbers specifically would not lead to a doubling in price. Now I'm not saying you're necessarily wrong, you very well may be correct, but if you're stating an argument, it's usually beneficial to state an argument.