“In the US there are 240 million cars (as of 2006) for 300 million people. In China there are 30 million cars for 1 billion people. The disparity in automobile utilization per capita is certain to narrow. China could easily sport 100 million cars sooner than anyone thinks. This implies that China must become an even larger importer of oil. How can oil prices decrease in the next three to five years?
This AM (30-May-07) the Washington Post published an article on China’s move to nuclear energy. The paper notes, “Under plans already announced, China intends to spend $50 billion to build 32 nuclear plants by 2020. Some analysts say the country will build 300 more by the middle of the century. That’s not much less than the generating power of all the nuclear plants in the world today.”
China has been burning coal at record rates and building coal fired power plants at the rate of two per week.”
Dr. Michael Berry on beearly.com
Insightful commentary about life after Kyoto and the recent G8 summit