Saturday, October 21, 2006

It's not China that's the cause of the rise in oil

Or so argues Paolo Scaroni, chairman of ENI, the Italian energy giant. In his view, China accounts for only 8% of the demand for oil while the US uses 25% and Europe 18%. On a per capita basis Scaroni's numbers are two barrels per year for a Chinaman, twleve for a European and twenty-six for an American.

He assigns our great use of energy to our cars, heating systems and air conditioning. He estimates that, given current usage, there is about seventy more years of oil left in the ground. Like many others with a brain, he believes that more efficient energy use plus conservation is necessary in order for us to survive untl alternative energy sources are developed. This is quite a different view than that held by the heads of many of the major oil companies.

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