What Happens to Oil Prices When China Abandons Bicycles?
As China's huge population graduates from bicycles, what is going to happen to oil prices? China -- still lacking in domestic oil infrastructure -- is going to compete against the United States to buy oil on the international market. The new destination of the oil tankers leaving the gulf could be China, not the U.S.
Americans usually move from a bicycle to a car around the age of 16 when they get a driver's license and money to buy their first car. And as China's middle class grows, so will the desire to move beyond bicycles. Whether it's a scooter, motorcycle or a car -- it is going to use gasoline.
Or will it?
Although we have been toying with the idea of electric cars for a while in the U.S., they are far from mainstream. In China, however, electric motorbikes have moved into the mainstream and come in an amazing variety of designs and shapes. Built like gas-powered scooters, electric scooters are very quiet and can go up to 40 kilometers on one charge and travel up to about 40 kilometers per hour. They recharge overnight, plugged into a standard Chinese 240 volt outlet.
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