China's Demand for Oil Cause Worldwide Worries

Today there are 10 million cars on China's streets and freeways. In 15 years, there will be 120 million.

Published: 31-Mar-2005

(KRT) - What is China's greatest economic challenge?

"Energy supply. Especially oil supply," said Huang Fanzhang, vice chairman of the China Reform Forum.

Huang is a respected Chinese economist who writes reform proposals for the People's Congress. We'd talked of many problems, but he chose oil as the most critical.


Visits to China, India, Malaysia and Pakistan are significant because the trip spells out the Saudi Kingdom's Look East policy, representing a new reorientation in its foreign policy that was heavily tilted toward the West.

The worst two scenarios suggest a drastic decline in output to 875,000 barrels a day by the end of 2007 and to just 520,000 a day by the end of 2008.

Bush said he envisioned a future in which a plug-in hybrid car could drive 40 miles on a lithium-ion battery, then stop at a filling station for ethanol, a fuel usually made from corn, similar to HyMotion Prius pictured below.


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