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Response to Sherman A1 (Original post)

Wed Feb 13, 2013, 09:05 AM

10. One word: China



Conventional crude oil production has been flat since 2005. Shale oil, tar sands, and deepwater are making up some of the shortfall in conventional crude, but those resources are not economically viable with oil below a certain price point ($80-100 a barrel or so). The US still imports about half its oil; therefore US fuel prices are determined largely by the world market price, which is determined by demand (limited supply of oil, increasing demand from China and other developing countries). Total world demand for oil has increased by over 20 million barrels a day in the last 15 years or so; China alone has accounted for nearly a third of that increased demand.

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Arrow 23 replies Author Time Post
Sherman A1 Feb 2013 OP
sunwyn Feb 2013 #1
leftyohiolib Feb 2013 #2
Berlum Feb 2013 #3
fasttense Feb 2013 #4
mac56 Feb 2013 #9
Puzzledtraveller Feb 2013 #8
glowing Feb 2013 #5
hobbit709 Feb 2013 #6
Tikki Feb 2013 #14
Freddie Stubbs Feb 2013 #21
Tikki Feb 2013 #23
oneshooter Feb 2013 #7
LineReply One word: China
Spider Jerusalem Feb 2013 #10
libtodeath Feb 2013 #11
oldhippie Feb 2013 #18
Fight2Win Feb 2013 #12
Fight2Win Feb 2013 #16
kelliekat44 Feb 2013 #13
Proud Liberal Dem Feb 2013 #15
Initech Feb 2013 #17
sinkingfeeling Feb 2013 #19
healthnut7 Feb 2013 #20
Myrina Feb 2013 #22
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