As Will Rogers Once Said

"Its not what people don't know that hurts them. It's what they do know that just ain't so."

China is leading the group of developing countries consuming more oil, and the growth of 7.8% in June lifts Chinese oil demand over 7 million b/d for the first time, aided by an upward revision to May now showing a 13.6% increase. Efforts by the central government to rein in oil use seem not as successful this year.

Goals to have more highway miles in China than USA's by 2030 and the desire to build their countries economy around cars is now front and center. Look for $10,000 cars and $15,000 SUV's coming to America soon from China.

It was illegal to buy a car in China in 1995. It became easier in 2000. Growth will surprise everyone.

Oil at $75 per barrel is not slowing demand nor will it at $100. Demand exceeds supply and the pundits are saying it will cripple the American consumer...just like the housing bubble.....but the economy continues to be much stronger than almost anyone is expecting it to be...