With all the hype made by the media about gas prices and if the oil companies are actually “gouging” us here in the States they have over looked the BIG story. China is growing!!

We are not talking about population growth here we are talking about economics people. China is the largest country, in terms of population, in the world. While most of us here in a first world country look to China as a source of cheap labor things are changing fast.

China’s growth is a dominant factor to think about when you hear about rising gas prices.

Here is a snap shot of China over the last decade from the CBO:

• Personal incomes: Have doubled
• Number of passenger vehicles: Have more than doubled
• Number of farm vehicles: Have more than doubled
• Miles of Road: More than doubled
• Number of licensed drivers: Have more than tripled
• China’s Domestic Petroleum Production: Increased around 16% in the last 10 years
• Refined Petroleum Consumption: Has doubled

With these changes is it any wonder why the oil companies are doing so well? It still might not be too late to buy oil stocks!!!

More from the CBO on China’s Demand for Oil.

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