Oil-Rich Nations Use More Energy, Cutting Exports

Written by  //  December 9, 2007  //  Economy, Environment & Energy, Geopolitics, Oil & gas  //  Comments Off on Oil-Rich Nations Use More Energy, Cutting Exports

Mexico City at rush hour. A rise in car ownership is increasing the demand for oil in Mexico. Photo Luis J. Jimenez for The New York Times

Published: December 9, 2007

The economies of many big oil-exporting countries are growing so fast that their need for energy within their borders is crimping how much they can sell abroad, adding new strains to the global oil market.
Experts say the sharp growth, if it continues, means several of the world’s most important suppliers may need to start importing oil within a decade to power all the new cars, houses and businesses they are buying and creating with their oil wealth. Full article

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