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Posts tagged “Taiwan”

By Andrew Holland on Mar 16, 2012 with 8 responses

Oil — Easy to Produce, But Not Easy to Buy

Robert Rapier had an interesting post on his R-Squared column. He claimed that Tom Friedman was mistaken in his most recent column (Pass the Books. Hold the Oil) in saying that Taiwan has succeeded because they have no natural resources; therefore they can be a model for how other countries can become successful by investing in their people. Robert says that’s not the whole story: even though they don’t produce oil, they are still dependent upon it. Again, I find myself defending Friedman, and that’s really not my default.

Robert does a good job of showing how much oil Taiwan actually uses, and his numbers here are great – and important. I had no idea that Israel consumes more oil per capita than the EU. The common thread, unfortunately, is that growing economies require growing amounts of oil.