Shi and RDOTT
Very good points and obviously nobody on this board know China consumer market better then you.
There is another interesting story about China energy consumption often forgotten by the OIL PEAK bandwagon.
In China only 18% of total Oil consumption is used to refine the Gasoline. Europe and USA is 70 to 80%.
60% of Oil consumption in China goes to Power Plants to generate the electricity.
Chinese are very smart and hard working people. They knew that they will have the energy problem. 8 years ago they put in motion the 15 years program to protect themselfves from the incoming crises.
They are in track to add in total 562 coal-fired Power plants which will dramatically reduce their oil consumption. Not to mention more nuclear power plants on the way.
It is estimated that the savings will more then cover projected grow in customer use in next 8 to 10 years.
Recent Chinese increase in OIL imports is mainly contributed to their massive increase in strategic storage capacity and not the consumption.
India is adding 231 such a plants.
What do you think Shi? Does this story make sense?
