Oil to hit $400 a barrel by 2018

Posted by Matt in June 5th, 2008

“The big story is productivity in China,” he asserts, noting it is an incredible 9%, or three times the level of productivity in the US during its 1990s peak. Admiral Owens attributes this to the country’s high-quality infrastructure. It will allow the Chinese economy to soon become the second-largest in the world, with a GDP big enough to justify comparison with the US.

That in turn means demand for energy will see oil prices reach $400 a barrel by 2018, he argues. This is not only because of demand in China, India and elsewhere, but because of the nationalisation of oil fields in countries such as Russia, Venezuela and in the Caucasus. And energy efficiency in China is not very high.

Map for Hong Kong, China

[Countries link to CIA Factbook. States link to Wikipedia.]

Flickr Tags: China, Oil

YouTube Related Videos for Tags: China, Oil

	china and oil price should china be blamed for oil price hike? if china and india were bombed to stone age, how long can america enjoy low oil price, and how long can the world wait till Noah finishes another boat? btw, he hasn't started yet, 'cause he still thinks that global warming is a conspiracy. Tags: america, china, economy, global, oil, price, warming
	Global Pulse- Darfur and China- Oil vs. Genocide More: http://linktv.org/globalpulse (May 30, 2007) President Bush condemns Sudan's genocide in Darfur, and Amnesty International says China provides weapons of mass murder. But China, fueling its economic expansion on Sudanese oil, reports the news differently than western sources. For more episodes and other Link TV programs: http://www.linktv.org/originalseries Sources: CCTV9 and Asia Today, China; Al Jazeera English, Qatar; TV5, France; NBC News, ABC News and FOX News, U.S. Tags: China, Darfur, genocide, globalpulse, linktv, oil, Sudan
	China OIL Real estate bubble in China, development of China, OIL, economic collapse, peak oil, china oil, gold, silver, oil for gold, oil for silver Tags: bubble, China, collapse, development, economic, estate, for, go, gold, in, of, oil, peak, Real, silver
	Chinese Oil Consumption Jeremy Haft, author of "All the Tea in China" discusses the upswing in Chinese oil consumption on Fox Money for Breakfast Tags: allthet, analysis, china, commentary, export, fuel, import, news, oil, overseas, trade
	China Oil Shock! Markets: Where's The Correction? IPOs Sinomania! webisode 38 for November 2, 2007, looks at the oil supply and price issues troubling Chinese oil majors, markets numbers, speculation on whether and why the much talked about bubble in Chinese stocks has not yet burst, and a look at the A share IPO for PetroChina... Tags: bubble, china, correction, ipo, oil, prices, shock, stocks
	Graves Lies about Cuba-China Oil Sam Graves lies to his constituents about Chinese oil drilling off the coast of Florida. Tags: China, coast, Cuba, drilling, Florida, Graves, lies, oil, Sam
	Darfur,Sudan,Oil,America and China Innocent Africans die in wars while foreign oil industries battle for regional oil contracts. Tags: Africa, al, america, chad, china, darfur, disease, dollar, famine, jazeera, oil, petro, poverty, sudan, war
	Boone Pickens on Oil & China He made billions in oil and natural gas in the U.S. and now Boone Pickens, BP Capital CEO sets his sights on China, with CNBC's Becky Quick Tags: china, oil, peak, pickens
	China Vs The U.S. - The Battle For Oil (1 of 5) China's sky-rocketing growth and shortage of sufficient resources is forcing China to set its sights outside its borders in a frantic search for oil, but the major oil-producing countries are kept off-limits by the United States, forcing China to do business with the rogue states, African dictatorships, Iran and former Russian states - to get the oil they desperately need. Featuring field encounters, archival footage, news reports and maps to outline the latest threat in world geopolitics. pt.1 http://www.youtube.com/watch?v=9m3c9vvKNgk pt. 2 http://www.youtube.com/watch?v=THIjlBuCduA pt. 3 http://www.youtube.com/watch?v=kS82S-7d6a8 pt. 4 http://www.youtube.com/watch?v=Z5LA_ybs6Cs pt. 5 http://www.youtube.com/watch?v=gECpTQVUCnI Tags: Africa, America, battle, China, dictatorship, economics, free, Iran, Iraq, oil, resources, rogue, Russia, states, trade, USA, war
	Oil Wars: Chinese Corp. pt.2/5 The oil stocks and offshore reserves obviously share one thing in common, their vicinity to the sea this is an asset when one considers the easy of importations and exportations. It is also a weakness because it is exposed to foreign encounters. The Taiwanese security question is exposed, how long could China sustain a cross-straight assault? All three of the stock oil bases are within range of Taiwanese cruse missile attacks thus as the question of oil acquisition is presented the question of energy security follows close behind. China's oil output is far lower than its domestic need due to low oil resources. It's growing economy demands greater and greater amounts of crude oil every year. In 2004, China had to import 100 million tons of crude oil in order to supply its energy demand,... Tags: africa, china, communism, corporation, dictator, east, gas, new, nwo, oil, order, petrol, price, war, world, WWIII, 中国
	War With Iran -WW3- iran- usa israel aipac russia venezuela syria china oil iraq allies ww3 threat Tags: aipac, allies, china, iran-, iraq, israel, oil, russia, syria, terrorists, threat, usa, venezuela, ww3
	China Vs The U.S. - The Battle For Oil (3 of 5) China's sky-rocketing growth and shortage of sufficient resources is forcing China to set its sights outside its borders in a frantic search for oil, but the major oil-producing countries are kept off-limits by the United States, forcing China to do business with the rogue states, African dictatorships, Iran and former Russian states - to get the oil they desperately need. Featuring field encounters, archival footage, news reports and maps to outline the latest threat in world geopolitics. pt.1 http://www.youtube.com/watch?v=9m3c9vvKNgk pt. 2 http://www.youtube.com/watch?v=THIjlBuCduA pt. 3 http://www.youtube.com/watch?v=kS82S-7d6a8 pt. 4 http://www.youtube.com/watch?v=Z5LA_ybs6Cs pt. 5 http://www.youtube.com/watch?v=gECpTQVUCnI Tags: Africa, America, battle, China, dictatorship, economics, free, Iran, Iraq, oil, resources, rogue, Russia, states, trade, USA, war
	China Vs The U.S. - The Battle For Oil (4 of 5) China's sky-rocketing growth and shortage of sufficient resources is forcing China to set its sights outside its borders in a frantic search for oil, but the major oil-producing countries are kept off-limits by the United States, forcing China to do business with the rogue states, African dictatorships, Iran and former Russian states - to get the oil they desperately need. Featuring field encounters, archival footage, news reports and maps to outline the latest threat in world geopolitics. pt.1 http://www.youtube.com/watch?v=9m3c9vvKNgk pt. 2 http://www.youtube.com/watch?v=THIjlBuCduA pt. 3 http://www.youtube.com/watch?v=kS82S-7d6a8 pt. 4 http://www.youtube.com/watch?v=Z5LA_ybs6Cs pt. 5 http://www.youtube.com/watch?v=gECpTQVUCnI Tags: Africa, America, battle, China, dictatorship, economics, free, Iran, Iraq, oil, resources, rogue, Russia, states, trade, USA, war
	China-USA Food Fight! Plus Peak Oil? Sinomania! webisode 24 looks at the USA-China food fight, world oil and two reports on the global outlook for the mid to long term, and are Chinese stock markets flat lining? Tags: china, food, market, oil, peak, stocks
	China Vs The US - The Battle For Oil (5/5) Today, China is the second largest consumer of oil, just after the United States. But with one of the highest rates of growth on the planet, its energy needs are increasing seven times faster, while its reserves are depleting. China is unable to produce the oil it needs today. It has to import half of it. In the next three years this number will increase to two-thirds, if not its whole economy will collapse. Lacking its own source of oil, China is dependent on the rest of the world. Hence it's imperative to find new countries to provide it and secure these supplies in an increasingly unstable world. In this crusade for black gold, China is already in direct conflict with the current greatest consumer of the world's oil: the United States. BATTLE FOR OIL investigates the new world... Tags: africa, America, battle, China, collapse, communism, consumer, coporate, corruption, currency, dictator, documentary, economy, energy, facism, five, fossile, fuel, gas, gasoline, geopolitic, hybrid, iran, iraq, money, nation, oil, part, planet, political, poverty, prices, recession, reserves, russia, states, third, united
	China Vs The U.S. - The Battle For Oil (5 of 5) China's sky-rocketing growth and shortage of sufficient resources is forcing China to set its sights outside its borders in a frantic search for oil, but the major oil-producing countries are kept off-limits by the United States, forcing China to do business with the rogue states, African dictatorships, Iran and former Russian states - to get the oil they desperately need. Featuring field encounters, archival footage, news reports and maps to outline the latest threat in world geopolitics. pt.1 http://www.youtube.com/watch?v=9m3c9vvKNgk pt. 2 http://www.youtube.com/watch?v=THIjlBuCduA pt. 3 http://www.youtube.com/watch?v=kS82S-7d6a8 pt. 4 http://www.youtube.com/watch?v=Z5LA_ybs6Cs pt. 5 http://www.youtube.com/watch?v=gECpTQVUCnI Tags: Africa, America, battle, China, dictatorship, economics, free, Iran, Iraq, oil, resources, rogue, Russia, states, trade, USA, war
	Oil price impacts on Chinese economy Oil price impacts on Chinese economy WATCH VIDEOSource: CCTV.com 05-10-2008 11:15 It's not just the United States and Europe that have been hit hard by surging oil prices. China is feeling the heat as well. Exports say the surge in oil prices is likely to depress growth in the global economy as well as trigger inflation, neither of which would help the Chinese economy. For a start, China itself will have to spend more on buying what it needs to refine. Dong Xiucheng, deputy chancellor of Sch. of Economics, China Univ. of Petroleum, said, "China is a huge oil importer, We import 150 million tons of oil every year. The higher the oil price, the more we have to pay. There is no way round it." Experts are stressing that recent price jumps are not due to imbalances in supply and demand.... Tags: China
	The Dollar is Doomed and the Fed's Days are Numbered In this very recent interview with Bloomberg Jim Rogers says Asia is the future, the dollar is a terribly flawed currency and he doesn't want to own any, oil will certainly pass $200/barrel soon, and the (privately owned) Federal Reserve will disappear within the next decade. digg it http://digg.com/business_finance/The_Dollar_is_Doomed_and_the_Fed_s_Days_are_Numbered?OTC-widget Tags: china, depletion, devaluation, dollar, federal, inflation, oil, paul, reserve, ron
	Motorists queue ahead of China fuel price rise - 20 June 08 On Friday Beijing hiked the cost of fuel by 18-percent. As a result -on the other side of the globe in New York - oil prices fell by almost five-dollars. Traders are worried that Chinese consumers won't buy as much petrol - dampening global demand for oil. Al Jazeera's Laura Kyle reports on how China's price rise is providing hope for the rest of globe. Tags: al, aljazeera, barrell, china, jazeera, kyle, laura, market, new, oil, price, stock, york
	Somalia & Oil: Will this complicate the situation further? Check this video out! Towards the end, they start discussing the Somalia Issue... and its scary how they describe it as the new cold war... may be Somalia will be turned once again into a proxy state for either China or the U.S Tags: America, China, Oil, Proxy, Somalia, States, TFG, U.S, United, US, USA, War