Business Update: Oil at 2010 peak
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Wait until 10 out of 100 chinese own a car....
MrEnergyCzar 1 year ago
@ShwangShwing "Oil is still cheap. You will realize that when it hits $300."
At 44 gallons of fuel per barrel, $300/bbl would imply $6.82/gallon. At 34 mpg, the fuel cost of driving would be only 50 cents per mile.
Does that sound like a lot?
hitssquad 1 year ago
@MrEnergyCzar "Wait until 10 out of 1,000 chinese are driving"
google. com/search?q=china+car+ownership
"For GM, Sales in China Could Soon Outpace U.S.
MiamiHerald. com - Stephen Markley - Apr 29, 2010
China has a car ownership ratio of 48 vehicles per 1000 people, which is well below US and European levels of 400-500 cars per 1000 people. ..."
Even if the average sino-driver owned two cars, that would imply 24 out of 1,000 Chinese are already driving.
hitssquad 1 year ago
Wait until 10 out of 1,000 chinese are driving......
MrEnergyCzar 1 year ago
Oil is still cheap. You will realize that when it hits $300.
ShwangShwing 1 year ago
Oil prices are manipulated.
Nymphe14 1 year ago
just let the markets implode already
CheeezMaster 1 year ago
oil is low try 200/bbl by 2011
TheVMFA333 1 year ago
Expect oil to sky-rocket in the coming months.
wideawake123 1 year ago