Boom felt across globe

More than 2 million new drivers hit the roads in China last year – helping make China the world’s No. 2 consumer of oil, after the United States – and the number of new drivers is increasing at double-digit rates each year.

“The unexpected demand from China helped push crude oil prices above $50 a barrel,” said Joe Sparano, president of the Western States Petroleum Association. “You have a market of 1.3 billion people that has suddenly discovered the automobile.”

Although China represents only 8 percent of the world’s oil demand – compared with 25 percent for the United States – its thirst is increasing exponentially and represents 50 percent of the growth in the market.