“China is also on track to consume about 10 million b/d of crude oil this year, slightly more than half that of the US. The Chinese, however, currently are selling themselves 20 million new cars and trucks a year (and there are not many trade-ins) so unless there is a major turn of events they will be up with the US’s oil consumption in another decade or so.”

—  Tom Whipple, Peak Oil analyst

Tags: , ,