European Tribune - Comments - Is China's growth in oil demand sustainable?

Is China's growth in oil demand sustainable? | 7 comments (7 topical, editorial, 0 hidden)

The cost of China's subsidy (none / 0)

China consumes roughly 2.5 million barrels of oil per day, so a $20 subsidy costs $50M/day, or $18.25 Billion/year. While I'm sure that they have other uses for the money, this is an amount that China's government can afford for a long time to come.

by corncam on Tue Aug 16th, 2005 at 09:49:50 AM EST

Re: The cost of China's subsidy (none / 1)

2.5mbd is the import number, isn't it? Consumption is now at 6mbd, with domestic production at 3+mbd. So you need to more than double that subsidy, to 40 or more billion dollars, a not unsignificant figure...(even if they don't pay that 20$ on the domestic production, it is still lost revenue)

In the long run, we're all dead. John Maynard Keynes

by Jerome a Paris (etg@eurotrib.com) on Tue Aug 16th, 2005 at 10:19:59 AM EST
[ Parent ]

Re: The cost of China's subsidy (none / 0)

Yes, you're right.

by corncam on Tue Aug 16th, 2005 at 12:07:32 PM EST
[ Parent ]

Re: The cost of China's subsidy (none / 0)

And it rises with price rises and increases in consumption.

by Colman (colman at eurotrib.com) on Tue Aug 16th, 2005 at 10:51:56 AM EST
[ Parent ]

Is China's growth in oil demand sustainable? | 7 comments (7 topical, 0 editorial, 0 hidden)

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