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China's oil demand increase 'astonishing', says IEA

news.bbc.co.uk -- China's demand for oil jumped by an "astonishing" 28% in January compared with the same month a year earlier, the International Energy Agency (IEA) says.

The body added that demand for oil in 2010 would be underpinned by rising demand from emerging markets, with half of all growth coming from Asia.

But the IEA predicted demand in developed countries would fall by 0.3%.

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Submitted Mar 12, 2010 By: Timberline

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FuelBarge Champion Author Long Island Posts:6,796 Points:1,608,315 Joined:Aug 2005	Message Posted: Mar 12, 2010 9:11:24 AM Ignore FuelBarge Report Abuse Will anyone be surprised when oil hits three figures again? China has plenty of money to purchase oil and bid against us.
amerk73 Champion Author Dallas Posts:4,707 Points:1,155,195 Joined:Oct 2008	Message Posted: Mar 12, 2010 8:20:59 AM Ignore amerk73 Report Abuse NO OIL IN CHINA
albert2008 Champion Author Winnipeg Posts:5,000 Points:1,018,135 Joined:Sep 2008	Message Posted: Mar 12, 2010 8:02:33 AM Ignore albert2008 Report Abuse thats one heck of a jump
PaylessKY Champion Author Kentucky Posts:6,100 Points:1,123,325 Joined:Oct 2008	Message Posted: Mar 12, 2010 7:52:52 AM Ignore PaylessKY Report Abuse China's demand will continue to grow.
gasforus Champion Author Michigan Posts:6,771 Points:1,726,540 Joined:Dec 2005	Message Posted: Mar 12, 2010 7:38:42 AM Ignore gasforus Report Abuse China is going to run the world someday soon!!
mmproteus Veteran Author Ohio Posts:378 Points:663,810 Joined:Apr 2008	Message Posted: Mar 12, 2010 7:35:57 AM Ignore mmproteus Report Abuse Spiderjay sez: "China is twice the size of the U.S. and everyone in china want the american dream which is fueled by OIL" By what metric is China "twice the size of the US"? They are not twice the size of the US in terms of: geographic size, economy, oil and energy consumption etc. The only thing they are larger than the US in is population, and in that they are 3-4 times the size of the US. What is this twice the size bullshit?
wwcj Champion Author Virginia Posts:1,582 Points:383,715 Joined:Jul 2008	Message Posted: Mar 12, 2010 7:35:27 AM Ignore wwcj Report Abuse Chicoms demand for Oil is great! That is why they are drilling off our shores (Cuba) and we are not! Lets hope that the VA Governer gets his way and start drilling of the VA coast. Wile I agree with JimL1, Supply and Demand Plus Govmt Taxes will be the ultimate reason for the cost off Gas rise. Just hope the Speculators get burned as the recession continues thanks to Obama's current path of government control of our lives.
spiderjay Champion Author Little Rock Posts:3,294 Points:956,955 Joined:Oct 2005	Message Posted: Mar 12, 2010 7:07:30 AM Ignore spiderjay Report Abuse JimL1 someone must or it wouldnt be here China is twice the size of the U.S. and everyone in china want the american dream which is fueled by OIL
JimL1 Champion Author Phoenix Posts:5,739 Points:806,475 Joined:Jul 2003	Message Posted: Mar 12, 2010 7:02:42 AM Ignore JimL1 Report Abuse ?????????????? DOES ANYONE CARE ???????????????? This morning I find that the SPECULATOR & MANIPULATOR stpetebp has posted another article, as have two other SPECULATORs & MANIPULATORs (Timberline & PD ) in hopes of getting more amateur SPECULATOR sucked into the SPECULATOR & MANIPULATOR game. Yesterday the SPECULATOR & MANIPULATOR stpetebp posted articles, in hopes of getting more amateur SPECULATORs sucked into the SPECULATOR & MANIPULATOR game. The day before yesterday all five articles were put up by the same person, stpetebp . Are stpetebp, Timberline & PD SPECULATORs & MANIPULATORs? This question is valid today, since three articles on the Gas Buddy Blog/Recent News site today are designed to feed the SPECULATOR frenzy. 1)" Building the world's longest ethanol pipeline” (Posted by: stpetebp), 2)“ China's oil demand increase 'astonishing', says IEA” (Posted by: (Timberline), and 3)“ Economic troubles show in oil demand statistics” (Posted by: PD ) These three articles are simply more attempts to stir up the frenzy of SPECULATOR s. Stirring up the frenzy of SPECULATOR s increases the cost of fuel. Is this what we need on a site that is supposed to be dedicated to helping people find less expensive fuel? Yes, I have been tracking SPECULATOR postings on this site for weeks. The least number of articles designed to increase speculation on any one day has been two. Today it is three out of five. Experienced SPECULATOR s tend to win more profits as more of those not deeply experienced in commodity speculation get into the game. It is very similar to a poker game in that respect. The new players/ SPECULATOR s normally get their clocks cleaned and the experienced players/ SPECULATOR s increase their winnings. Stirring up the frenzy of SPECULATOR s increases the cost of fuel. Is this what we need on a site that is supposed to be dedicated to helping people find less expensive fuel? ?????????????? AGAIN, DOES ANYONE CARE ????????????????
Spike294 Rookie Author South Carolina Posts:88 Points:567,510 Joined:Aug 2009	Message Posted: Mar 12, 2010 7:00:42 AM Ignore Spike294 Report Abuse I thought that most people were to poor there to own vehicles
OilerFan Champion Author Tulsa Posts:11,796 Points:2,119,895 Joined:Aug 2005	Message Posted: Mar 12, 2010 7:00:13 AM Ignore OilerFan Report Abuse I'm not sure what part of China's increased demand is astonishing. It has been predicted for years and seen to be a real trend. How could someone not figure this out? And, it'll continue and we have to compete with them not only for oil, but also for food; they're buying more and more food from the same sources we use in South America. The age of cheap food is over.
Cruiser340 Champion Author Grand Rapids Posts:10,297 Points:2,326,215 Joined:May 2004	Message Posted: Mar 12, 2010 7:00:11 AM Ignore Cruiser340 Report Abuse thats because they are saving theirs for later.
mk9999 Champion Author Rochester Posts:5,548 Points:1,205,870 Joined:Aug 2008	Message Posted: Mar 12, 2010 6:59:36 AM Ignore mk9999 Report Abuse China is killing us in every way possible.
Digger5 Veteran Author Milwaukee Posts:436 Points:1,227,735 Joined:Jun 2004	Message Posted: Mar 12, 2010 6:57:09 AM Ignore Digger5 Report Abuse Up, down, up, down, up, down, up, down, up, up, up!
TomT2Lee Champion Author Cincinnati Posts:3,807 Points:1,167,120 Joined:Sep 2005	Message Posted: Mar 12, 2010 6:55:43 AM Ignore TomT2Lee Report Abuse Then daybayer you must be in need of glasses. China, India and most of the pacific rim is in a massive growth pattern that fast becoming decoupled from the US economy. Last year China had more car sales than the US. Less than 4% of the chinese 1.2 billion population own a car. Just doubling that will be a huge increase in oil demand for China. If you want to bury your head in the sand and live in a fantasy world go ahead, but don't be surprised at how dearly it will cost you.
rjoeh Champion Author Michigan Posts:5,735 Points:2,057,390 Joined:Jun 2004	Message Posted: Mar 12, 2010 6:55:40 AM Ignore rjoeh Report Abuse I'm waiting for the next building boom in China...ROADS.
Tnerbeel Champion Author Houston Posts:6,350 Points:1,283,885 Joined:Mar 2007	Message Posted: Mar 12, 2010 6:55:31 AM Ignore Tnerbeel Report Abuse Be nice to hear the explanation for the increase but you sure won't find it in this article.
FocusGuy Champion Author Seattle Posts:4,894 Points:965,825 Joined:Apr 2009	Message Posted: Mar 12, 2010 6:55:05 AM Ignore FocusGuy Report Abuse makes me love my XOM more every day
popeye2009 Veteran Author Ottawa Posts:320 Points:280,545 Joined:Sep 2009	Message Posted: Mar 12, 2010 6:54:54 AM Ignore popeye2009 Report Abuse 1 year ago the economy was is deep recession and this January a short lived recovery. I also read February was a pull back. Oh those poor poor hyper rich middle east countries, each only making 700 mil a day not 1 billion.
fcdriver Champion Author Tennessee Posts:5,198 Points:1,065,800 Joined:Sep 2008	Message Posted: Mar 12, 2010 6:53:21 AM Ignore fcdriver Report Abuse so its all the fault of the chinese
Bill100 Champion Author Grand Rapids Posts:37,360 Points:704,295 Joined:Jan 2010	Message Posted: Mar 12, 2010 6:53:17 AM Ignore Bill100 Report Abuse It's the resultant prices of oil that have and will astonish me.
FuelOilOH Champion Author Cleveland Posts:2,338 Points:945,555 Joined:Oct 2007	Message Posted: Mar 12, 2010 6:51:04 AM Ignore FuelOilOH Report Abuse They better watch out. Uncontrolled growth will come crashing down in the end.
DWME Champion Author Indiana Posts:1,223 Points:250,000 Joined:Aug 2009	Message Posted: Mar 12, 2010 6:47:58 AM Ignore DWME Report Abuse What do you mean astonishing? They were predicting this a year ago.
cardjcsk Champion Author Toronto Posts:3,171 Points:1,457,835 Joined:Feb 2007	Message Posted: Mar 12, 2010 6:47:55 AM Ignore cardjcsk Report Abuse Someone is stocking up
Rick01 Champion Author Utah Posts:6,634 Points:1,908,215 Joined:Sep 2005	Message Posted: Mar 12, 2010 6:46:29 AM Ignore Rick01 Report Abuse We have to get alternatives on the market here fast or pay the price!
dabayer Champion Author New Hampshire Posts:1,559 Points:392,730 Joined:Oct 2005	Message Posted: Mar 12, 2010 6:45:33 AM Ignore dabayer Report Abuse The statement is irrelavent. So what does it really mean comparing one month with the month from last year? NOTHING. Trends or annual movements say more than just looking at one month without context. This just feeds speculators and gives them the jitters. Result? HIGHER OIL AND GAS PRICES. Pure hype.
bluzdw Sophomore Author Missouri Posts:121 Points:30,745 Joined:Feb 2010	Message Posted: Mar 12, 2010 6:44:25 AM Ignore bluzdw Report Abuse I thought they burned rice!
Beau2140 Champion Author New York Posts:5,931 Points:1,189,185 Joined:Oct 2008	Message Posted: Mar 12, 2010 6:44:15 AM Ignore Beau2140 Report Abuse Their demand will keep prices high.
afghaned Champion Author Hamilton Posts:8,493 Points:820,625 Joined:May 2004	Message Posted: Mar 12, 2010 6:44:07 AM Ignore afghaned Report Abuse There was an article this week that talked about China cutting the import of oil to cut back on the growth that's happen too quickly for their liking.
arinkrat17 Champion Author Twin Cities Posts:3,999 Points:866,995 Joined:Aug 2009	Message Posted: Mar 12, 2010 6:43:55 AM Ignore arinkrat17 Report Abuse everyone just need to consum less
mswillia All-Star Author Milwaukee Posts:802 Points:304,570 Joined:Feb 2010	Message Posted: Mar 12, 2010 6:43:39 AM Ignore mswillia Report Abuse Once the price gets high enough then the alternative fuels and development will become feasible. But we should use the Oil and Gas that we have in this country while this development is done.
bikechuck Champion Author Indianapolis Posts:4,632 Points:1,596,180 Joined:Apr 2006	Message Posted: Mar 12, 2010 6:43:37 AM Ignore bikechuck Report Abuse We are at the $3/gal area and this will spur on development of alternate fuel vehicles. It also makes us eliminate unnecessary trips etc, money talks. This will also stall our recovery from recession.
PrepHermit Champion Author New Jersey Posts:5,794 Points:1,181,110 Joined:Aug 2008	Message Posted: Mar 12, 2010 6:43:35 AM Ignore PrepHermit Report Abuse In other words, blame China for the price of oil.
no_monkey2002 Champion Author Tallahassee Posts:6,213 Points:1,620,775 Joined:Mar 2006	Message Posted: Mar 12, 2010 6:43:09 AM Ignore no_monkey2002 Report Abuse those who reap the profit will do what
rvn4me Champion Author Texas Posts:3,259 Points:1,029,740 Joined:Jan 2009	Message Posted: Mar 12, 2010 6:43:06 AM Ignore rvn4me Report Abuse China is trying to corner the market.
Spetsnaz Champion Author Dayton Posts:1,711 Points:591,795 Joined:May 2006	Message Posted: Mar 12, 2010 6:39:06 AM Ignore Spetsnaz Report Abuse I say if America can walk away from Oil, then we never give our secrets to foreign countries!
LocalSpyGuy Champion Author Tampa Posts:5,474 Points:1,119,245 Joined:Nov 2008	Message Posted: Mar 12, 2010 6:37:46 AM Ignore LocalSpyGuy Report Abuse The price we pay in the U.S. is dependent upon the demand in China and elsewhere. Our best chance is to use alternative sources of fuel and to eliminate unnecessary travel.
Zuman Champion Author New York Posts:3,883 Points:1,441,655 Joined:May 2005	Message Posted: Mar 12, 2010 6:36:33 AM Ignore Zuman Report Abuse What did these knuckle heads think? China would stop using energy.
foxups Champion Author Toledo Posts:3,252 Points:645,060 Joined:Feb 2004	Message Posted: Mar 12, 2010 6:35:23 AM Ignore foxups Report Abuse give'em a car and they will go far
cigarman409 Champion Author Massachusetts Posts:2,082 Points:1,361,625 Joined:Jul 2007	Message Posted: Mar 12, 2010 6:34:12 AM Ignore cigarman409 Report Abuse they are drivin up prices with demand
cv Champion Author Raleigh Posts:12,831 Points:2,798,605 Joined:Oct 2003	Message Posted: Mar 12, 2010 6:33:06 AM Ignore cv Report Abuse Summary: we are going to pay higher prices for oil products.
ky_commuter75 Champion Author Cincinnati Posts:5,206 Points:1,485,565 Joined:Jul 2005	Message Posted: Mar 12, 2010 6:28:04 AM Ignore ky_commuter75 Report Abuse The IEA don't know what they are talking about. We need to start drilling at home. consumption at that growth will cause issues.
THEDodgeman Champion Author Denver Posts:5,626 Points:1,479,580 Joined:Apr 2005	Message Posted: Mar 12, 2010 6:26:44 AM Ignore THEDodgeman Report Abuse predictions are like butts, everyone has one.
madison8359 Champion Author Cleveland Posts:5,731 Points:1,126,665 Joined:Apr 2008	Message Posted: Mar 12, 2010 6:26:17 AM Ignore madison8359 Report Abuse Thanks to WalMart providing China with all those jobs, they now need lots of oil to make all the junk we buy from them and WalMart!
thedennis64 Champion Author Ohio Posts:1,015 Points:783,370 Joined:Aug 2003	Message Posted: Mar 12, 2010 6:24:38 AM Ignore thedennis64 Report Abuse Another example of China doing what they can to get an even bigger piece of the U.S.
SUV2009 Champion Author Orlando Posts:3,107 Points:733,890 Joined:Oct 2009	Message Posted: Mar 12, 2010 6:24:07 AM Ignore SUV2009 Report Abuse No one knows and the IEA cannot predicted anything.
niceguytx Champion Author Houston Posts:11,407 Points:2,250,070 Joined:Sep 2005	Message Posted: Mar 12, 2010 6:23:47 AM Ignore niceguytx Report Abuse I am not surprised.
gasandgoAL Champion Author Alabama Posts:4,653 Points:1,121,795 Joined:Sep 2008	Message Posted: Mar 12, 2010 6:23:28 AM Ignore gasandgoAL Report Abuse people have jobs in China, a lot of American jobs. if you are working, you can afford to buy gasoline
jppezz Champion Author New Mexico Posts:6,225 Points:1,224,605 Joined:Jun 2008	Message Posted: Mar 12, 2010 6:17:37 AM Ignore jppezz Report Abuse When has the International anything been right?
Don1222 Champion Author Michigan Posts:7,802 Points:1,089,855 Joined:Jul 2008	Message Posted: Mar 12, 2010 6:17:32 AM Ignore Don1222 Report Abuse Support alternative fuels. Hydrogen fuel cells.