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This image circulated on the Internet some time ago. It is a composite of nighttime images.
Those are streetlights shining below. Under each are hundreds of light bulbs, television sets,
microwave ovens, air conditioners and cars. Notice how much of China is still undeveloped.
We are now in a Global Economy and must compete for energy supplies. It will be challenging. 



 

 

 

 

 

 

 

 

 

 

This from an industry newsletter. This author's predictions have been fairly accurate the last few years:
 
Oil prices are about to receive another level of support from the Chinese. Plans are now in place for the Chinese to maintain their own Strategic Petroleum Reserve which would be similar to that of the U.S., but only 100 million barrels. Given that there is no global excess capacity of crude oil supplies, what do you think will happen to oil prices as the Chinese begin buying oil for storage? Unless they are willing to fill their reserve exclusively with Saudi heavy crude, oil prices will continue moving higher with this added demand on oil supplies. I mentioned many times in the past that the Chinese have the financial capacity above all others to be the marginal buyer of oil and pay whatever it takes for an incremental barrel of oil and that they will be setting the global price. I think we are about to witness what it means to hold such power over a global commodity as everyone else will either have to meet or beat the price established by this energy hungry country.- Danny Bowers [mailto:Dbowers3@houston.rr.com]

                                           Link to Image Source: NASA image August 2002 

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