More China

China has underestimated its power generation needs caused by "massive demand" by business and consumers and will need to invest an extra $180 billion by 2020 to make up the shortfall. China has already planned for 950 gigawatts; it needs 280 more or plus 30%!

China's Energy demands grew 9.5% in 2005 over 2004. Coal remains the country's main energy source, with consumption increasing 10.6%. There were 23.65 million privately owned vehicles at year end 2005, up 22%!

It would be a dramatic mistake to underestimate the continuing strategic importance of hydrocarbons to the Chinese economy.