China not to blame for increased oil prices
Michael Masters of Masters Capital Management LLC says that China is not responsible for increased oil prices since, over the past five years, the increase in demand by market speculators is nearly equal to the increase in Chinese demand.(0:32)
May 20, 2008
2 Responses to “China not to blame for increased oil prices”
Categories
Latest Audio
Happening Now - TRNS on Twitter
- @bobney: Buckeye Blitz !!!!!!!! Another year down -- 4 hours ago
- @jackrice: I Embed with the the 82nd Airborne in Afghanistan in Dec. http://ff.im/-bOlF2 -- 6 hours ago
- @bobney: Wow, money for votes, doesn't that get you in trouble? :-) - POLITICO.com - http://shar.es/aiGGE -- 6 hours ago
- @bobney: Senator Mary Landrieu (D-LA) will vote for cloture to begin the healthcare debate, has reserved her right to vote no on passage -- 6 hours ago
- @tdowlats: RT @huffingtonpost Reporters Uncensored: How to Build a Continent: A Do it Yourself Guide http://bit.ly/48dl6X -- 8 hours ago
- @bobney: Listen to the American Cancer Society vs the Preventive Services Task Force about mammograms-the PSTaskForce has to be out of their minds -- 10 hours ago
- @bobney: Yea, a push for more of our jobs to go to the Commie Chinese Gov't- Obama: Asia trip part of U.S. jobs push - POLITICO http://shar.es/ai5r1 -- 10 hours ago
- @bobney: Hot air lineup, get your boots on ---Sunday talk show tip sheet - Dianna Heitz - POLITICO.com - http://shar.es/ai5pd -- 10 hours ago
- @bobney: OR,Get the Democratic candidate to call the Republican Candidate Fat-GOP eyes McDonnell strategy - Jonathan Martin - http://shar.es/ai5gc -- 10 hours ago
- @bobney: Healthcare part deux!! What to watch for in today's debate - Chris Frates - POLITICO.com - http://shar.es/ai5fK -- 10 hours ago
May 21st, 2008 at 12:36 pm
The guy’s numbers are wrong. From the DOE, http://www.eia.doe.gov/emeu/cabs/China/pdf.pdf from 2003-2006 China’s oil consumption went from ~5.5MB/d to 7.5MB/d, and I dont’ think they’re using less in 2008 than they were in 2006.
May 21st, 2008 at 10:23 pm
During 2003-2006, China used an extra 2 mb/d. Now lets assume the consumption rate is higher now in 2008, lets say 3 mb/day, that means China oil consumption is now 10.5 mb/d. How do you explain that oil has risen 40% ytd in 2008 alone?