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The Growth of Oil in the Non-Oecd World
The poster child of this phenomenon is what's happened in China in the last 20 years. Our belief is that that growth of oil in the non-OECD world is going to continue. This is happening whether it be Vietnam, Philippines, Indonesia. All these countries in Southeast Asia are now all have all entered that period of rapid intensification of oil consumption. So we believe that demand has been very, very difficult to squeeze oil demand out of the global total consumption of the global economy in the next 10 years.