Supply and Demand of Oil in China

Paper Summary:

This paper discusses the article 'China's Rising Demand for Oil and Pipelines Has Worldwide Implications?'by Gordon Feller. It applies macroeconomic theory to oil as a commodity product in China where oil and other petroleum products, as well as coal, have become a major source of energy production. The paper discusses the opinion expressed in the article that this development in terms of world oil markets, the petroleum industry and the fact that China has great potential to affect the world oil industry either positively or negatively.

From the Paper:

"In the article "China's Rising Demand for Oil and Pipelines Has Worldwide Implications," Gordon Feller discusses the unexpected negative impact that the ascendancy of China's economy into a major global economy has had on international markets. For years companies all over the globe and especially in the West have viewed China as an emerging market with vast potential for increasing sales for many years to come. Yet, most analysts seemed to overlook the fact that China's economy was expanding for a reason and that its emerging modern infrastructure and middle-class population with greater income levels would have the same energy demands as any other developed nation: China's rapid economic expansion makes it one of the largest energy-consuming nations with demand growth continuing to surge."

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