China's population grew 73.9 million people since 2000, reaching 1.34 billion, and increasing demand for oil still further. The 5.8% growth rate was the slowest for 50 years.
But 5.8% growth applied to a population base of 1.26 billion plus people yields a huge jump in people.
73.9 million more people is the equivalent of close to 25% of the USA population. It is more than all the people living in the United Kingdom. It is a lot.
You want to know why the price of gasoline is at $4. Fundamentally the cause of $4 oil is rising population in China, India, Brazil plus rising standards of living there that are being created by burning coal and oil most of all.
China's huge thirst for oil is now bigger by 73.9 million more people than just 10 years ago. $4 gasoline is just the beginning of sharply higher oil prices over the next 10 years.
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