Even with shift to electric cars Asia’s economies will need more oil

China and Asia have had the economic growth for the last few decades and the growth in oil demand.

US fracking has supplied 6 million barrels per day of the total 10.5 million barrels per day of increased oil demand. Almost all of the new oil demand came from Asia.

Around 2030, China should have $20,000 GDP per capita. Even with a lot more electric cars and buses, there will still be a substantial demand for more oil.

Oil supply has mostly stayed ahead of demand for the last few years despite the production problems in Venezuela. The growth in US oil production is slowing down. Increasing demand will get ahead of supplies in the next few years.

Longer term the shifts away from oil to electric cars may not be sufficient to enable the growing economies in Asia to have the various kinds of energy they need for their economies.

21 thoughts on “Even with shift to electric cars Asia’s economies will need more oil”

  1. There may be oil and gas in the south china sea. It would be in territorial waters of other nations. Artificial islands fortified for intimidation have been pursued. How big of a tsunami generating torpedo to overwhelm an island built from landfill to house a military airstrip?

    Reply
  2. There may be oil and gas in the south china sea. It would be in territorial waters of other nations. Artificial islands fortified for intimidation have been pursued. How big of a tsunami generating torpedo to overwhelm an island built from landfill to house a military airstrip?

    Reply
  3. Only temporarily. It will also lead to increased production which will eventually lead to price collapses. Then the cycle repeats itself.

    Reply
  4. The growth in US oil production is slowing down.” Based on what? Because with oil prices as they are and the fact that it takes only 18 months now to get a new shale rig up and running for less than $8 million, you can bet a lot of activity is production investment is going on right now. Then there is this: The Trump administration is starting the process of opening up large swaths of land in California to hydraulic fracturing. In a notice issued Wednesday to the Federal Register, the Bureau of Land Management (BLM) said it intends to analyze the impact of hydraulic fracturing, known as fracking, on publicly owned land throughout the state. The area in question spans 400,000 acres of public land and 1.2 million acres of federal mineral estates throughout a number of California counties including Fresno, San Luis Obispo and Santa Barbara. That’s going to lead to a lot more future production…and a lot more PO’d lībtards in CA who don’t vote for Trump anyway.

    Reply
  5. Only temporarily. It will also lead to increased production which will eventually lead to price collapses. Then the cycle repeats itself.

    Reply
  6. The growth in US oil production is slowing down.””Based on what? Because with oil prices as they are and the fact that it takes only 18 months now to get a new shale rig up and running for less than $8 million”” you can bet a lot of activity is production investment is going on right now.Then there is this:The Trump administration is starting the process of opening up large swaths of land in California to hydraulic fracturing.In a notice issued Wednesday to the Federal Register the Bureau of Land Management (BLM) said it intends to analyze the impact of hydraulic fracturing known as fracking on publicly owned land throughout the state.The area in question spans 400000 acres of public land and 1.2 million acres of federal mineral estates throughout a number of California counties including Fresno”” San Luis Obispo and Santa Barbara.That’s going to lead to a lot more future production…and a lot more PO’d lībtards in CA who don’t vote for Trump anyway.”””””””

    Reply
  7. Due to pollution issues, China has a strong emphasis on EV production. Under a low growth scenario, with high EV adoption, oil demand in China could fall to 10 million barrels per day by 2030.

    Reply
  8. Due to pollution issues China has a strong emphasis on EV production. Under a low growth scenario with high EV adoption oil demand in China could fall to 10 million barrels per day by 2030.

    Reply
  9. Collapse mostly if its an bubble. You tend to get bubbles in real estate or stocks there people bets on the value will continue growing. You get price fluktuasjons obviously and has to be ready for them. High oil price give lots of investment and reduced use, then price drops and demand increase.

    Reply
  10. Collapse mostly if its an bubble. You tend to get bubbles in real estate or stocks there people bets on the value will continue growing. You get price fluktuasjons obviously and has to be ready for them. High oil price give lots of investment and reduced use then price drops and demand increase.

    Reply
  11. Collapse mostly if its an bubble. You tend to get bubbles in real estate or stocks there people bets on the value will continue growing.
    You get price fluktuasjons obviously and has to be ready for them. High oil price give lots of investment and reduced use, then price drops and demand increase.

    Reply
  12. Due to pollution issues, China has a strong emphasis on EV production. Under a low growth scenario, with high EV adoption, oil demand in China could fall to 10 million barrels per day by 2030.

    Reply
  13. “The growth in US oil production is slowing down.”

    Based on what?

    Because with oil prices as they are and the fact that it takes only 18 months now to get a new shale rig up and running for less than $8 million, you can bet a lot of activity is production investment is going on right now.

    Then there is this:

    The Trump administration is starting the process of opening up large swaths of land in California to hydraulic fracturing.

    In a notice issued Wednesday to the Federal Register, the Bureau of Land Management (BLM) said it intends to analyze the impact of hydraulic fracturing, known as fracking, on publicly owned land throughout the state.

    The area in question spans 400,000 acres of public land and 1.2 million acres of federal mineral estates throughout a number of California counties including Fresno, San Luis Obispo and Santa Barbara.

    That’s going to lead to a lot more future production…and a lot more PO’d lībtards in CA who don’t vote for Trump anyway.

    Reply
  14. There may be oil and gas in the south china sea. It would be in territorial waters of other nations. Artificial islands fortified for intimidation have been pursued. How big of a tsunami generating torpedo to overwhelm an island built from landfill to house a military airstrip?

    Reply

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