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Page added on April 30, 2006

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China’s thirst for oil grows

You can call mainland Chinese leader Hu Jintao’s tour of Saudi Arabia and Africa an energy journey aimed at securing energy to supply his country’s explosive economic development. Mainland China is already the world’s second largest consumer of oil, after the United States.

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But the mainland’s appetite for oil is bound to increase when it becomes more affluent and when automobiles and appliances are becoming more affordable. At present, the mainland’s per capita GDP stands at US$1,700. When the figure increases to US$5,000 or more, as is already the case in booming regions like Shanghai and Beijing, the car population will increase and the energy shortage will become more acute.


China Post



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