] Misconception #1: The Spike in Oil Price is Due to
] China's Insatiable Demand
]
] The past year's sudden increase in oil prices to all-time
] highs (and generational highs in real terms) has led many
] analysts to conclude that the rise in oil prices is due
] to the fact that China has moved from consuming 2
] millions barrels per day a decade ago to 5 (or more
] today).
]
] But while this makes intuitive sense, it does not really
] correspond to reality