Posted by: raju161 September 30, 2009
Prediction on price of crude oil at the end of 2009
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Geology tiger, i do understand what you are trying to say, ya fossil fuel might be increasing as per you say and as per your research but don't you think the consumption rate is also alarming every now and then. Do you know, number of chinese automobiles is increasing about 5 million per year, leaving rest of the world alone? We have 6.5 billion humans currently what about 75 million that are added every year. As per the research conducted by demographers, it projects a population between 8 and 10 billion by 2050. What do you think about the impact ?


Let me give you one example,


The United States with about 4.6 percent of world's population consumes about 25 percent of all oil. Do you know there are about 1.3 billion people in China alone. Its annual per capita GDP is about $4500 per year and is increasing. What do you think if Chinese alone, reached that stage where they match the American level of consumption? And please think about the rest of the world too!

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