As hundreds of millions of new drivers start driving in India and China, what will happen to the price of oil?
They have, between them, 2.3 billion people or about 1/3 of the world’s population.
Edit: What do you think it will rise to?
They have, between them, 2.3 billion people or about 1/3 of the world’s population.
Edit: What do you think it will rise to?
January 24th, 2010 at 2:46 am
China + India = total use 14% of the world’s energy
The U.S. = uses 25% of the world’s energy + having occupation troops in major OPEC members.
Who is the real one in the position to influence oil price?
It is impossible for hundreds of millions people in China and India to drive. The reason is simple, they have no space for parking that many cars. They will continue to develop mass transportation.
If you have been to those two countries you would have known. Unlike the U.S. which has everything spread out so much and can’t survive without personal cars, Chinese and Indians live on mass transportation, or just walk or ride a bike.
January 24th, 2010 at 2:46 am
Up, up, up.
January 24th, 2010 at 2:46 am
The price will be going up faster than NASA’s last rocket launch baby.
January 24th, 2010 at 2:46 am
I guess it is hard for us to be happy for millions of once poverty stricken people to find their way into a middle class income bracket to be able to afford to own a car (no less to drive one). Good for them….not so good for us. Yes the price of oil has gone up….called world demand….oil is a consumer driven market. Our prices are not reflecting price gouging and oil company profits, but demand around the world. Life has gotten a little bit better for people in other countries and we will have to pay at the pump for their success. So are we happy for others who never had much before?
January 24th, 2010 at 2:46 am
I don’t think the effect will be as profound as one might think. Having spent a lot of time in the region, a lot of their transportation is highly fuel efficient and most choose motorcycles over cars. This is due to affordability and traffic congestion. Plus, you won’t see to many of these motorcycles be over 100 cc. I mean when I was there just a couple years ago, the most powerful motorcycle they were advertising was 180 cc, and it was comparable to one of America’s bigger Harley’s.
January 24th, 2010 at 2:46 am
Nothing in the long term. I live in a region where the majority of the population is Indian, and I’ve seen what they drive like.
It will just be another form of population control and the number of drivers will decrease accordingly, thus reducing the demand for oil
January 24th, 2010 at 2:46 am
It can only go up, a crucial world wide product, controlled by folks that don’t like us much or hate us altogether. If we don’t do the ‘drill here, drill now, pay less’ thing starting really soon, $10 / gal. gas will become a reality.
Additionally, the dems don’t seem too sympathetic to gas prices.
http://www.lp.org/news/press-releases/democrats-work-against-gas-price-relief
Bob Barr’s stand:
http://www.bobbarr2008.com/issues/energy-policy/