Peak Oil is You
Donate Bitcoins ;-) or Paypal :-)
Page added on October 11, 2010
Report: China’s auto population will exceed 200M by 2020; causing “serious environmental issues”
Wang Fuchang, director of China’s Department of Equipment Industry, delivered a speech at the 2010 International Forum on the Development of the Chinese Automotive Industry held on September 5th stating:
“It is estimated that automobile ownership in China will exceed 200 million in 2020, causing serious energy security and environmental issues. Striving to promote the energy efficiency of traditional automobiles and the industrialization of alternative-energy automobiles has become an urgent issue that the Chinese auto industry must address.”
Jeff Rubin, former head economist at CIBC World Markets, is predicting that the price of oil will go much higher within the next two years given:
1. The rate at which existing sources of cheap oil are depleted requires the discovery of new sources just to maintain the supply for the current demand for oil.
2. The increase in consumption in China and India over the next few years.
He says running out of cheap oil will result in a change from a global economy back to a local economy.
2 Comments on "Report: China’s auto population will exceed 200M by 2020; causing “serious environmental issues”"
Laurent Horvath on Mon, 11th Oct 2010 3:25 pm
China made exclusive oil partnerships with Russia, Kazakhstan, Venezuela, Nigeria, Brazil, etc. Their focus: Energy.
During the same time, Europe and USA spent money to save their banks. Their focus: Finance.
In few years, we will discover which strategy was right.
KenZ300 on Wed, 13th Oct 2010 6:28 am
China has a NATIONAL policy that is interested in providing jobs, and energy for it’s people. Alternative energy production will provide jobs for the future.
The US has no NATIONAL policy. All our jobs are being outsourced and our energy supplies are not being diversified fast enough because of a lack of National policy. We will be buying our alternative energy materials from China.
What @#$$^%%$%^&^&^&