OIL price per barrel have fall to USD50 per barrel now which work out to around RM1.40 per liter for industrial diesel user . These is only a fraction of the peak price of around RM4.00 per liter in June 2008 .
Today we will talk about oil .
I append a few chart on oil .
Worldwide oil consumption have been stabilising at 80 million barrel per day for the last 5 years and yet there is no more significant new oil reserves found in the last 2 decades .
Although currently the price of oil have drop significantly due to recession in the USA , China and India are continuing with annual GDP growth of over 8% . Imagine this 2 country compounding growth of cars alone will consume all the supply available in a few years time .
In fact now , China monthly vehicles sales nearly top 1 million unit per month .
Therefore " PEAK OIL THEORY " are very real in time to come .
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