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Thursday, August 26, 2010

China could force the world to give up oil

Today, China uses 10% of the world's oil. Its neighbor, South Korea, uses just 3%. If China were to use as much oil per person as South Korea - which figures show could happen quickly - it would eat up over 70% of the world's supply.

Global oil output has increased by just 1% a year since 1975, so there's little chance that these demands could be met through conventional means. If China continues its rapid growth, the world could be forced to find alternative sources of energy sooner than anyone expects.

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