... personal wiki, blog and notes
Some interesting numbers:
|(million barrels per day)||2005||2007|
|World Oil Production||84.63||84.60|
|Chinese Oil Demand||6.84||7.60|
The original article (hat tip John Fleck) makes the point that a natural inference from these numbers is that while Chinese oil demand has been rising, elsewhere in the world, demand has been falling. Now remember these figures predate the recent price eruptions.
I find an interesting subtext in these numbers. As far as I'm aware it would hard to be argue that while the fall in demand has probably come from Europe, Japan and the U.S., it has been driven by consumer or governmental drives to reduce oil consumption because of concerns about global warming. So that implies that if we could actually devise an effective policy to drive down oil consumption in the west superimposed on what might be a natural downward trend1, then it would probably be possible to allow Chinese demand to continue growing and have a net decrease in consumption globally. And if that's so, it removes one of those planks from the "do nothing" brigade who argue that there's no point because Chinese (and Indian and Brazilian etc) consumption will continue to increase.
We can make a difference!
(I wonder what the coal figures look like?)
Update: I shouldn't have started this, but now Jeff has a link to the latest EIA figures, and I haven't a clue what the real state of supply and consumption is ... which echoes the major point of his first post I guess).