Canadian Oil going to China

[dan_s]

In the latest Short-Term Energy Outlook by the EIA, a nugget of information was glossed over by most people who took the time to read it: For the first time ever, non-OECD (think: China, India, Russia) oil consumption will surpass that of OECD countries by next year.

It's a trend we had better get used to, as non-OECD oil demand is expected to top 45.9 million per day in 2014.

The annual increases in U.S. oil demand have slowed but global demand is increasing by over 1,000,000 BOPD each year. That is more oil than North Dakota currently produces. By year-end, global demand for liquid fuels will exceed 92,000,000 bbls per day.

In 2009 global demand was 84,000,000 bbls per day. Get the picture?

If Obama does not approve the Keystone XL pipeline that oil is going to China. Do we really want that to happen?

[dan_s]

China is soon going to lift their ban on one child per couple. IMO this will result in a surge in population growth and more demand for energy and more food.