Last week, we featured a chart produced by our colleague Bud Conrad of The Casey Report. It showed the enormous oil consumption growth of the world's most populous nation, China.
Today, we show you another amazing oil-consumption chart. This time, it's the mushrooming demand coming from the world's second most-populous nation, India.
India's car sales surged 25% last year from the previous year, according to an industry group. The group also reports that India's car sales have climbed at an annual clip of 10%-14% for the past decade. That's driving the amazing uptrend (blue line) you see below. It's also causing India to import more and more oil each year.
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