However, China IS driving prices up in the west…and everywhere else. They’re doing this by finally entering the modern world–and mostly because they’ve invested very heavily in several things over the last 20 years: building an extensive roadway system, expanding their petrochemical industries, and allowing a HUGE influx of western auto-makes inside the country to do business.

One doesn’t see too may of those “oceans of bicycles” pictures from China anymore…they’ve paved their road, and are driving cars (more, and more all the time!). This, along with an expanded petrochemical industry have put massive demands upon the world’s oil resources…thus driving prices WAY up. This is why gasoline costs over $ 2 per gallon - simple supply-demand issues. But remember, oil gets used to make many, many products, not just gasoline—so prices for everything are going up.

Yep, you’re right about it being China’s fault, but not right about how it’s happening. The funny (or maybe, sad) thing is, China’s trying to “come of age” just as we’re about to run out of oil!

What lousy timing!

Ha ha.