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China did not need fuel oil for power plants (it can get plenty of crummy crude for that). But Chinese motorists do want gasoline. DRIVING EAST In fact, 2004 regional subjects west could very be remembered as the year that regional subjects west American consumption no longer drove the global crude market, while Chinese consumption did. It isn't that America no longer matters. regional subjects west We are, and will remain for some time, the world's largest oil consuming nation. Americans use about one-quarter of the world's 80 million barrel per day output. But the serious, money-making growth is no longer here in North America. International oil companies see a US market that is already saturated by automobiles (and increasingly interested in lower-mileage cars), while an increasingly wealthy China is busily trading in its bicycles for cars, light trucks and SUVs.
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