"China today consumes as much crude oil per person as the US did in 1905, before mass production of the Model-C Ford and long before the advent of the jet engine," points out Robin Batchelor, manager of BlackRock's BGF World Energy fund. "If China and India were to increase their consumption per person to current US levels, these two countries alone would require 160 million barrels per day, more than twice the world's supply of oil today."
Oil, the 21st Century dot.com boom
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