In 2011, China is expected to lead the world in car sales for the third straight year. Its sales in 2011 are expected to be near 20 million vehicles compared to less than 13 million vehicles for the United States. And, these vehicles will be mainly run on oil-based fuels. China's oil consumption increased 12.9 percent in 2010, hitting the 10 million-barrel-per-day mark in November, and its oil imports have risen 17.5 percent. Recognizing the need for oil resources, its state-owned oil companies are buying oil and gas assets around the world.
