On Apr 12, 2005, at 12:21 PM, Damon Agretto wrote:
And, um, what has China to do with any of it anyway?
It's been widely reported that the reason for high fuel costs is because of China's rapidly expanding economy.
Ah. Not that widely apparently. ;)
I'm not sure how valid that claim is. If the chart here is of any value, China's economic growth has been on a more or less steady rise since 1998 or so:
<http://www.chinability.com/GDP.htm>
...while oil prices have been radically up and down over the same period, which would seem to indicate no tie between oil prices and China's economy:
<http://www.eia.doe.gov/emeu/cabs/chron.html>
Also, IIRC Shanghai in particular was undergoing a massive boom in the last several years, but oil prices didn't spike then either.
-- Warren Ockrassa, Publisher/Editor, nightwares Books http://books.nightwares.com/ Current work in progress "The Seven-Year Mirror" http://www.nightwares.com/books/ockrassa/Flat_Out.pdf
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